GT Solar Jumps on Large EPS Beat (SOLR)

Shares of GT Solar

are popping in the after-hours trade following the release of the company's Q4 earnings results. Currently, shares are higher by 10.07%, trading at $12.79; they closed the regular session lower by 5.68%, at $11.62. GT Solar reported Q4 EPS of $0.41 on revenues of $271.6 million; the Street was looking for $0.34 per share The company also raised FY 2012 guidance to $1.55-1.85 per share with gross margins expected to come in at 42-44%. "Our strong fourth quarter performance caps an outstanding year for GT and its shareholders," said Tom Gutierrez, president and chief executive officer. "We achieved record revenues in fiscal year 2011 on 65 percent year-over-year growth and we more than doubled our earnings per share. We concluded the year with a strong balance sheet and cash position, while utilizing $203.5 million of cash to buy back 26.5 million shares from our private equity investor.” GT Solar International, Inc. through its subsidiaries is a global provider of polysilicon production technology, crystalline ingot growth systems and related photovoltaic manufacturing services for the solar industry.