- GT Advanced (GTAT +13.2%) is taking off after posting an EPS beat to go with a revenue miss, and reiterating its 2014 revenue and gross margin guidance ($600M-$800M and 25%-27%, respectively). EPS guidance of $0.02-$0.18 is in-line with a $0.09 consensus.
- Likely helping: GT says its creation of a sapphire materials business (via the Apple deal) may allow it to "expand into other materials segments" once it's done ramping production at Apple's Mesa, AZ facility.
- GT also says it's seeing strong interest in new LED, solar, industrial, and power electronics equipment products. "Meaningful revenue recognition" for those products is expected to start in early 2015.
- The company ended Q4 with $539M in cash/equivalents and $283.9M in debt. It expects to end 2014 with $400M-$500M in cash. 2014 sales are set to be heavily back-end loaded - Q1 guidance is for revenue of $20M-$30M and EPS of -$0.20 to -$0.25, well below a consensus of $113M and -$0.08.
- Q4 results, PR