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GT Advanced Technologies, Inc.(fka GTATQ)

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Last Post: 7/20/2017 1:48:40 PM - Followers: 269 - Board type: Free - Posts Today: 0


Despite, or possibly because of, its recent Chapter 11 Bankruptcy filing, GTAT remains the world leader in the development and sale of sophisticated, efficient furnaces for the production of high grade crystalline materials. They began in photovoltaic cells, and expanded into polysilicon, and the rapidly growing market for LED quality sapphire the acquisition of Crystal Systems, in Salem, MA, in July 2010. Its May 2013 acquisition of Thermal Technologies via a stock-for-stock exchange added an electrical annealing process that grows crystals at lower temperatures, and other high technologies. GTAT claims to have mostly integrated Thermal into its sapphire operation.
Apple Computer Debacle
Under a major contract announced in November 2013, GTAT undertook a massive project to be sole supplier to Apple of unscratchable device screens—in return for Apple's providing them with the use of a 1M sq' plant in Mesa, AZ, and pre-paying for the sapphire in the amount of nearly $600m to enable GTAT to purchase tools and supplies and hire new personnel to run the plant. GTAT began shipping massive amounts of equipment to Mesa in February 2014, and added over a thousand new hires. GTAT's other areas of business took a back seat to this massive project. During 2013-14, GTAT’s stock was one of the most widely shorted and, unfortunately, predictions that GTAT would be unable to meet Apple’s quality requirements proved correct with a suddenness that shocked stockholders and observers alike. Apple’s September iPhone6 event omitted sapphire screens from the device, though including them for its planned Apple Watch, an untested market. GTAT’s stock crashed to a low of 0.80 when GTAT announced that it had filed in New Hampshire to reorganize under Chapter 11 of the bankruptcy code on October 6, 2014.
Remaining Sources of Value
GTAT had $1.5B of assets total, including $85M of cash, vs. $1.3B of liabilities, as of the filing, including the following:
The Monocast™ furnace technology for the production of photovoltaic materials and polysilicon.
The Hyperion™ Ion Implanter, a non-kerfing, ion beam knife for the thin-slicing of extremely hard materials; it still remains to be seen how well developed the Hyperion ion implanter is or how integral it will become to GTAT's plans going forward as an efficient slicer of high tech materials, or even for the beam’s use as an alternative to radiation therapy for the removal of cancer cells.
The Merlin™ Solar Panel Technology. In early 2014, GTAT announced that it had developed and patented a breakthrough in solar panel design to allow greater collection efficiency, the replacement of most of the silver in the panels with copper and, importantly, much greater efficiency of installation and greater longevity of the panels themselves. GTAT has expanded added production capacity for the technology at its facility in Merrimack, NH. However, due to the size of the market, GTAT has since stated that it will pursue a licensing strategy for third party suppliers to manufacture and sell the copper grid to panel manufacturers.
Also, GTAT has continued a high level of R&D—at 15% of guided 2013 revenues—towards new offerings in the areas of:
* Furnaces to produce defect free silicon carbide for power converters;
* HiCZ™ furnaces and other tools to produce mono-crystalline PV with as high as 27% solar conversion efficiency;
* An improvement to the MOCVD process for building LEDs known as HVPE GaN, through a partnership with Soitec; and
* An automated sapphire inspection tool through a partnership with Intego that can increase the yield of high quality sapphire material from a given boule.
Remaining Sources of Revenue
GTAT had previously guided LED sapphire and polysilicon furnace sales to comprise the bulk of its revenues for 2014, with SiC related sales to comprise only 1%. Interestingly, GTAT never included Apple revenues specifically in its statements of guidance. There may also be nearer term opportunities for the Hyperion tool both in sapphire and in SiC, while most HiCZ and HVPE revenues have been projected for 2014 and beyond.
Further Guidance
Investors will have to follow the bankruptcy filings for further company updates.
-GrthzGd
PostSubject
#41655  Sticky Note From what I hear, the common stock for TheGreatSwami 06/28/17 11:18:25 AM
#41663   Latest quartlerly report says 3-6 months as the TheGreatSwami 07/20/17 01:48:40 PM
#41662   Sweeet todd72113 07/15/17 01:38:30 AM
#41661   Press Release: GT Advanced Technologies Releases Next TheGreatSwami 07/14/17 09:24:50 AM
#41660   AAAAAAHAHAHAHAHA!!!!!!!!!!!!!!! samplescave 07/12/17 10:10:09 AM
#41659   investorshub.advfn.com/uimage/uploads/2015/10/25/hxicg2599301.jpg alchemytrader 07/08/17 01:14:42 PM
#41657   "Halvor was allegedly let go recently." TheGreatSwami 06/29/17 02:57:17 PM
#41656   We should all go request free shares into Jiminy Cricket 06/28/17 11:55:03 AM
#41655   From what I hear, the common stock for TheGreatSwami 06/28/17 11:18:25 AM
#41654   GT still leading the Multi-Crystalline Ingot Furnace Market 2017. TheGreatSwami 06/27/17 12:16:26 PM
#41653   Just so you know, as you may have Newbie Long GT 06/24/17 06:27:44 PM
#41652   The bondholders and unsecured creditors will receive 16% TheGreatSwami 04/28/17 10:46:06 AM
#41651   Here are a couple of interesting articles on Netsurfer 04/28/17 07:49:04 AM
#41650   I bought bonds in the "old" gtat. TheGreatSwami 04/24/17 11:05:19 AM
#41649   Traffic has been real light as most people Netsurfer 04/24/17 10:50:44 AM
#41648   How / why did you get bonds / Netsurfer 04/24/17 10:43:54 AM
#41647   Good find. I figured you found that TheGreatSwami 04/24/17 10:32:58 AM
#41646   The link was not in the article. It Netsurfer 04/24/17 10:29:39 AM
#41645   So I went 50/50 getting shares and bonds. TheGreatSwami 04/24/17 10:27:11 AM
#41644   I read the 1 billion dollar law suit TheGreatSwami 04/24/17 10:15:18 AM
#41643   It will be at least that long. Netsurfer 04/24/17 10:04:25 AM
#41642   Looks like it will be another 3-6 months TheGreatSwami 04/24/17 09:23:36 AM
#41641   A lot of claims being disallowed: TheGreatSwami 04/11/17 02:55:52 PM
#41640   From what I read, in about 2 months TheGreatSwami 02/27/17 02:48:45 PM
#41639   GT has sold the building they were occupying Netsurfer 02/22/17 02:13:02 PM
#41638   Looks like GTAT continues to win in court: TheGreatSwami 02/14/17 03:26:56 PM
#41637   I wonder if you got him to believe MasterBlastr 02/14/17 07:52:17 AM
#41636   I think it will if it doesn't get TheGreatSwami 02/13/17 10:22:34 AM
#41635   Interesting. Will this ever trade again? a surfer 02/08/17 08:17:30 PM
#41634   Dow Corning Corporation hereby submit this stipulation of dismissal. TheGreatSwami 02/07/17 10:55:35 AM
#41633   new co? Eh... Tired Jack 02/01/17 04:30:17 PM
#41632   So about sometime in late April they expect TheGreatSwami 01/20/17 12:49:29 PM
#41631   Document Name: Quarterly Post-Confirmation Summary Report for the TheGreatSwami 01/20/17 12:48:22 PM
#41630   "Lots of funny things going on in Mesa TheGreatSwami 01/16/17 02:54:01 PM
#41629   For no other reason than your assumption of LarryAshy 01/10/17 08:56:53 AM
#41628   I am getting the feeling that GT is TheGreatSwami 01/05/17 12:41:29 PM
#41627   Lots of clawbacks: TheGreatSwami 11/16/16 09:17:21 AM
#41626   The new CEO was part of what was Netsurfer 10/14/16 02:13:33 PM
#41625   Another CEO bites the dust! Newbie Long GT 10/06/16 01:04:28 AM
#41624   Lots of action right now regarding claims... TheGreatSwami 09/30/16 01:39:03 PM
#41623   Looking at GT's pacermonitor it looks like things TheGreatSwami 08/05/16 03:09:12 PM
#41620   ALL Equity Holders obviously were in extreme self maverick_1 07/22/16 05:36:14 PM
#41615   GOOD FOR THEM! (...grin...) Living the American Dream samplescave 07/06/16 09:05:56 PM
#41610   No risk no reward what a Major Discharge todd72113 06/29/16 10:50:05 AM
#41608   The company should do well - thats what MasterBlastr 06/17/16 12:53:50 AM
#41607   PR just released. Looks like they are TheGreatSwami 06/16/16 12:24:28 PM
#41605   UNITED STATES MadHatter326 05/24/16 04:32:17 PM
#41604   "Someone should do a postmortem on this board TheGreatSwami 05/11/16 07:57:47 AM
#41603   It was bad. TheGreatSwami 05/11/16 07:56:11 AM
#41602   I think GTAT will be back. I TheGreatSwami 05/11/16 07:55:32 AM
#41601   Hey! What happened here!? UpTickMeASAP 05/10/16 06:12:44 PM
PostSubject