GT Advanced Technologies Inc. Announces Executive Changes; Reiterates Earnings Guidance for Fiscal Year 2013 Ended December 31, 2013 and for Fiscal Year 2014
The company reiterated its guidance for fiscal year 2013 ended December 31, 2013 and for fiscal year 2014, guidance that was originally provided in November 2013. For the fiscal year 2013, the company expects revenue in a range of $290 million to $320 million. Gross margins are expected to be in a range of 30% to 32%, with non-GAAP earnings per share to range between a loss of $0.40 to a loss of $0.50.
In 2014, the company expects total revenue to be in the range of $600 million to $800 million, with overall gross margins in the range of 25% to 27% and positive earnings on a non-GAAP basis.