GT Solar Announced CEO Transition, Offered Preliminary Q2 results (SOLR)

Mon. November 02, 2009; Posted: 02:15 PM

Nov 02, 2009 (SmarTrend(R) News Watch via COMTEX) -- SOLR | Quote | Chart | News | PowerRating -- 11/2/2009 - GT Solar International, Inc. (NASDAQ:SOLR) announced a CEO transition and offered preliminary results for the second quarter of fiscal year 2010. Tom Gutierrez has been elected president, CEO and a member of the board of directors. He is succeeding Tom Zarrella, who served as President, CEO and a director since 2007. The changes became effective October 28, 2009. The company also offered preliminary results for Q2 of fiscal 2010, which ended on September 26, 2009. It expects revenue of $100 million to $105 million, net income in the range of $9 million to $10 million and earnings per fully diluted share of $0.06 to $0.07. The company also reaffirmed its revenue and EPS guidance for the fiscal year ending on April 3, 2010 in the ranges of $450 million to $550 million and $0.45 to $0.60, respectively. Chairman of the board J. Bradford Forth said, "We greatly appreciate Tom Zarrella's contributions and accomplishments over the last several years in leading GT Solar to a position of technological leadership and financial strength in the solar equipment industry and we wish him well. GT Solar is fortunate to have attracted Tom Gutierrez to lead the company in its next stages of growth and success. He has a strong technology background and proven track record of leadership in senior executive roles in large successful enterprises, developing and selling technologically sophisticated products worldwide. We are delighted to have Tom Gutierrez on board."

Write to Chip Brian at cbrian@tradethetrend.com

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For full details on GT Solar International Inc (SOLR) click here. GT Solar International Inc (SOLR) has Short Term PowerRatings of 5. Details on GT Solar International Inc (SOLR) Short Term PowerRatings is available at This Link.

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