GT Advanced Technologies Inc. announced a chief financial officer transition. CFO Richard Gaynor resigned, effective March 6, 2014, to accept a new position with New Mountain Capital LLC. The company also announced the appointment of Raja Bal as vice president, corporate controller and chief accounting officer. Bal will succeed Gaynor as CFO of the company on March 7. Bal was at Skyworks Solutions Inc. for the last 12 years and served as corporate controller and in a number of other senior finance positions, including director of corporate development with responsibility for strategic planning and mergers and acquisitions. Bal previously held positions with Lucent Technologies and Ernst and Young.

The company reiterated its guidance for fiscal year 2013 ended December 31, 2013 and for fiscal year 2014, guidance that was originally provided in November 2013. For the fiscal year 2013, the company expects revenue in a range of $290 million to $320 million. Gross margins are expected to be in a range of 30% to 32%, with non-GAAP earnings per share to range between a loss of $0.40 to a loss of $0.50.

In 2014, the company expects total revenue to be in the range of $600 million to $800 million, with overall gross margins in the range of 25% to 27% and positive earnings on a non-GAAP basis.