GT Solar Gets New CEO

GT Solar (NSDQ: SOLR), which makes equipment for producing silicon and ingots, has hired Tom Gutierrez as its new CEO, the company said Monday.

Gutierrez replaced Tom Zarrella, who had been the CEO since 2007. The new CEO took office last week.

Gutierrez was CEO at Xerium Technologies from 2001 to 2008; Xerium makes synthetic textiles. Previously, Gutierrez was CEO of Invensys Power Systems, which makes energy storage products. Gutierrez is on the boards of Verso Paper and Comverge.

The Merrimack, N.H.-based company, which also sells equipment for making solar cells and panels, also released preliminary financial results for its second fiscal quarter ending Sept. 26 this year.

GT Solar said it expects the second-quarter revenue to be around $100 million to $105 million. Net income would fall between $9 million and $10 million, or 6 to 7 cents per share.

For the full 2010 fiscal year, the company expects to generate $450 million to $550 million in revenue, and 45 to 60 cents per share.

GT Solar plans to release the full second-quarter results next week

The company’s shares were down 3 percent to reach $5.09 per share in recent trading.