15.02.2012: US wafer manufacturer MEMC Electronic Materials Inc. reports that its GAAP revenue for the fourth quarter of 2011 was $717.8 million, a 16% decline from $850.1 million in the last quarter of 2010. Meanwhile, MEMC’s GAAP net loss for the quarter was $1.484 million, compared to net income of $12.6 million in the fourth quarter of 2010. On its own, MEMC’s solar development business SunEdison achieved net sales of $381.3 million in the quarter, but it had an operating loss of $433.7 million. MEMC says SunEdison connected 161 MW of solar capacity during the quarter and notes that it was in the process of installing an additional 255 MW of capacity at the close of the quarter. During the fourth quarter, MEMC announced that it would lay off about 20% of its workforce and severely reduce production due to “the continuing cyclical downturn in the semiconductor industry and the severe market disruption in the solar market.” The company also combined its Solar Materials and SunEdison business units, effective Jan. 1, 2012. For the full year 2011, MEMC’s GAAP net sales reached $2,715.5 million, an increase of 21% from 2010. According to MEMC, the improvement was largely driven by increased sales at SunEdison. … Source: MEMC Electronic Materials Inc.; Summary: PHOTON http://investors.memc.com/phoenix.zhtml?c=106680&p=irol-newsArticle_Pr
int&ID=1661565&highlight= http://www.memc.com/index.php?view=investors&c=106680&p=irol-calendar The complete press release can be viewed in PHOTON's archive using the following link:
http://www.photon-international.com/newsletter/document/60913.pdf |
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