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GT Advanced misses estimates, announces deal with Apple; shares halted

  • GT Advanced (GTAT): Q3 EPS of -$0.16 misses by $0.15.
  • Revenue of $40.3M (-76% Y/Y) misses by $52.2M.
  • Expects 2013 revenue of $290M-$320M and EPS of -$0.40 to -$0.50, below a consensus of $525.8M and $0.23.
  • Major long-term deal with Apple announced. Apple to make $578M prepayment.
  • Shares are halted. CC at 5PM ET. (PR)
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