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Stock Market & Financial Investment News

News Breaks
February 27, 2013
16:56 EDTGTATGT Advanced reports Q4 EPS ($1.34), may not compare to consensus (8c)
Reports Q4 revenue $102.33M, may not compare to consensus $271.25M. In Q4, the company took actions to better align the business with current and expected market conditions, as described in its December 18, 2012 conference call with the investment community. As a result the company recorded several one-time charges, which are described below and excluded from non-GAAP results. The one-time charges included a cash-charge of $3.1M for restructuring related to the workforce reduction announced in October and the idling of the company's St. Louis pilot manufacturing facility as well as the following non-cash charges: $30.3M of asset impairment charges related to the workforce reduction and idling of the St. Louis facility; $71.8M for the write down of inventory and related charges, primarily related to DSS inventory as a result of prevailing poor PV market conditions; $57M of charges related to the impairment of goodwill related to the PV business and $2.5M of charges primarily related to certain sapphire materials assets acquired with the acquisition of the business which are now obsolete.
News For GTAT From The Last 14 Days
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October 24, 2014
06:07 EDTGTATApple responds to GT Advanced's sapphire business exit, Re/code reports
Following GT Advanced's (GTAT) announcement to shut down factories in Mesa, Arizona and Salem, Massachusetts, an Apple (AAPL) spokeswoman said the company will continue evaluating GTAT's progress on larger sapphire boule development, reports Re/code. She said, "Apple put a lot of effort into an ambitious new sapphire manufacturing process with GTAT which is not ready for production. We’re going to continue evaluating GTAT’s progress on larger sapphire boule development, as well as consider other options for the facility. We remain committed to the city and we’re going to work with Mesa and Maricopa County to help the GT Advanced employees who will be impacted by this find new jobs.” Reference Link
October 23, 2014
09:19 EDTGTATGT Advanced to wind down operations at Mesa facility
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October 21, 2014
19:34 EDTGTATGT Advanced, Apple reach deal to 'wind down' sapphire plant, Philip DeWitt says
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10:29 EDTGTATGT Advanced expects settlement with Apple 'within hour,' Bloomberg reports
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October 15, 2014
06:37 EDTGTATGT Advanced executive sold shares before bankruptcy, WSJ says
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06:16 EDTGTATApple asks permission to lodge objections to GT bankrupcy in secret, Re/code says
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October 13, 2014
09:39 EDTGTATActive equity options trading on open
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