The Merrimack, N.H.-based company reported a quarterly net income of $5.1 million, or 3 cents per share, up from a net loss of $5 million, or 4 cents per share, for the same period last year.
Excluding $1.4 million in costs related to GT Solar's initial public offering, the income totaled $6.5 million.
The company debuted on the Nasdaq in July. Shares fell 11.6 percent on the day of the IPO and an additional 13.7 percent the next day, when customer LDK Solar said it was buying silicon ingot furnaces from a GT Solar competitor (see GT Solar Goes Public, GT Solar Sinks on LDK News and GT Solar IPO Attracts Class-Action Suits).
Quarterly revenue nearly quadrupled to $57.1 million from $15.4 million in the year-ago quarter.
GT Solar, which makes solar-manufacturing equipment, said the increase came mainly from the sale of a recently introduced multi-crystalline product called DSS 450.
The company also provided guidance for its second quarter – which the announcement said ends September 2009, but should end next month – and for the full 2009 fiscal year. (The 2009 fiscal first quarter ended June 28.)
GT Solar expects second-quarter earnings of between 12 and 15 cents per share on revenue of between $120 million and $130 million, and full-year earnings of between 70 to 75 cents per share on revenue of between $600 million and $650 million.
Shares rose 3.8 percent – or 52 cents – to $14.07 per share Tuesday, then an additional 98 cents to $15.05 per share in recent after-hours trading.