Technologies is a market leader in each of its three core technology segments

Operating expenses are targeted to increase by approximately $2.0 million to $75 million, or $62 million on a non-GAAP basis. The tax rate is targeted at 20% for fiscal Q1. GAAP net income is targeted at $16 million to $19 million, or $0.14 to $0.17 per diluted share. Non-GAAP net income is targeted in a range of $28 million to $31 million, or $0.25 to $0.28 per diluted share. The led linear high bay light and non-GAAP net income targets are based on an estimated 110.2 million diluted weighted average shares. Targeted non-GAAP earnings exclude expenses related to the amortization of acquired intangibles of $0.02 per diluted share, and stock-based compensation expense of $0.09 per diluted share.

Our transition from GT Solar to GT Advanced Technologies reflects our broader strategic market focus,” said Tom Gutierrez, GT Advanced Technologies’ president and CEO. “We are growing beyond our historic focus on the solar industry to include other growth markets such as the LED industry. We also continue to look for strategic expansion opportunities into other adjacent markets that leverage our core competencies in crystal growth technology and the commercialization of equipment that drives the growth of new industries. Our name is now more closely aligned with our strategic vision and provides a new platform for us to grow and strengthen our global brand.”

GT Advanced Technologies is a market leader in each of its three core technology segments – polysilicon production equipment, photovoltaic (PV) silicon casting furnaces and sapphire equipment and materials. In the solar industry, GT Advanced Technologies is a global industry leader in polysilicon production technologies used in the manufacture of high purity polysilicon, the led high bay light fundamental raw material for the solar PV industry. The company is also the world’s largest manufacturer of casting furnaces which crystallize polysilicon into ingots used to product solar wafers.