GT Advanced soars. New materials markets eyed after Apple ramp.

|About: GT Advanced Technologies, Inc. (GTATQ)|By:, SA News Editor

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