Preliminary estimate is that GTAT beat earnings by 0.08 per share and revenue pretty much inline with expectations. The press release sounds pretty positive and optimistic going forward, etc. The stock should respond positively tomorrow. CC will be important...
I found this interesting: "New orders during the first quarter were $16.6 million including $9.4 million of orders for DSS"
didn't they essentially write off DSS entirely last quarter?
Anyway, most things seem to be in line (as expected) to me. Or rather, as I personally expected.
If the price drops off it means there was a lot of stupid money in here expecting some kind of miracle ER for no reason.
I'm still thinking we're going to hear some improving expectations talk tomorrow morning. As far as the stock AH, a couple folks were intitial disappointed, however sound investing is now appearing and we are recovering back to the closing price.
I understand your concerns. Yet, that is to be expected as they work-off the old contract obligations. However, as they introduce new products and services starting second half of this year (btw, GTAT is expecting profit of around 0.08 per share next quarter), the backlog should start building up again. GTAT has been holding off introducing new products for a while now--intentionally. So, this quarter should the revenue and profit trough since GTAT is returning to profitability next quarter and for the rest of the year. GTAT is expected to earn profit of 0.28 cents per share this year (2013).
I would expect upbeat CC tomorrow and perhaps a surprise or two.
Ignore the others who may tried to confuse the issue. Short and simple: beat earnings estimates by 0.08 per share and revenue pretty much within guidelines. The press release sounds pretty optimistic. CC tomorrow should interesting.
They took in 16.6 million in orders that were not expected. R&D investment still massive at 16.4 million. Inventory is up 17 million, I would assume because there are shipments in process and that is good news.