GT Advanced Technologies Q1 Loss Widens

(RTTNews) - GT Advanced Technologies Inc. (GTAT) Monday first-quarter net loss of $41.4 million or $0.31 per share, wider than last year's loss of $18.7 million or $0.16 per share last year.

Adjusted loss for the quarter were $0.22 per share, wider than $0.07 per share last year.

Revenues for the quarter dropped to $22.5 million from $57.8 million last year.

Analysts polled by Thomson Reuters estimated loss of $0.21 per share on revenues of $26.98 million million for the quarter. Analysts' estimates typically exclude one-time items.

GT continues to see full-year 2014 adjusted earnings of $0.02 to $0.18 per share on revenues of $600 million to $800 million. Analysts currently expect full-year earnings of $0.10 per share on revenues of $693.84 million.