GT Solar 2Q results better than expected

GT Solar said for the fiscal second quarter it earned $27.9 million, or 19 cents per share, compared with $17.1 million, or 12 cents per share, in the year-ago period. Revenue jumped 71 percent to $140.2 million from $81.8 million.

The results beat estimates of analysts surveyed by Thomson Reuters, who expected earnings of 14 cents per share on revenue of $127.3 million. Analysts typically exclude one-time charges.

For the fiscal third quarter, the company guided for earnings of 23 cents to 25 cents per share on revenue of $190 million to $200 million. That, however, falls well below analysts' forecast of 29 cents per share on revenue of $236.1 million.

Also, the company revised its 2008 revenue guidance to a range of $575 million to $650 million, from a prior range of $600 million to $650 million estimate, citing "macroeconomic uncertainty." But it maintained its 2008 earnings forecast of 70 cents to 75 cents per share, expecting better cost controls and stronger profit margins to offset any revenue shortfall.

Analysts, on average, expect full-year earnings of 72 cents per share on revenue of $626.5 million.

The stock rose 7 cents to $4.55 in afternoon trading. Shares have traded between $3.63 and $14.45 in the past 52 weeks.