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GT Solar profit tops Wall Street view, shares rise

Wed, 08/03/2011 - 1:28pm
Reuters

NEW YORK (Reuters) - Solar equipment maker GT Solar International Inc on Wednesday reported higher-than-expected quarterly earnings and said its backlog of orders had risen to record levels, lifting its share price.

Net income for the fiscal first-quarter ended July 2 was $52.1 million, or 41 cents per share, compared with $16.5 million, or 11 cents per share, a year ago.

Wall Street analysts, on average, had been expecting earnings of 31 cents per share, according to Thomson Reuters I/B/E/S.

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