GT Advanced shows $11 million loss during April period; revenue down

By Kali Hays

New York, June 1 – GT Advanced Technologies, Inc. marked an $11.05 million loss from operations for the period of March 29 through May 2 on $1.72 million of revenue, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the District of New Hampshire.

The company reported a net loss of $5.23 million and revenue of $2.91 million for March 1 through March 28.

GT’s net loss for the April period was $15.57 million, increasing from $7.87 million in March.

The company had $55.58 million in cash and equivalents as of May 2, down from $64.2 million as of March 28.

Merrimack, N.H.-based GT Advanced Technologies is a provider of equipment and services that support the growth of the solar and LED industries. The company filed for bankruptcy on Oct. 6, 2014 under Chapter 11 case number 14-11916.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.