SunEdison widens losses in the third quarter

SunEdison widens losses in the third quarter

07.11.2014: US solar manufacturer and project developer SunEdison Inc. saw its net loss balloon in the third quarter despite an 11% year-on-year increase in sales. Quarterly net sales reached $681.2, up from $646.2 million a year earlier, while gross margin grew slightly to 10.0% from 9.9%. Net loss, meanwhile, widened substantially to $283.4 million from $108.0 million. During the third quarter, SunEdison completed construction of 297 MW, converted approximately 1.0 GW of future potential projects into backlog and added 561 MW of gross pipeline. The company also launched the IPO for its yieldco, TerraForm Power, in July. Broken down by segment, Solar Energy achieved net sales of $432.12 (Q3 2013: $410.1 million) and recorded an operating loss of $147.8 million (Q3 2013: $-72.5 million); TerraForm Power posted sales of $53.2 million (Q3 2013: $5.4 million) and operating income of $20.5 million (Q3 2013: $2.1 million); and Semiconductor Materials registered sales of $213.2 million (Q3 2013: $232.6 million) and an operating loss of $62.5 million (Q3 2013: $21.3 million). Looking forward, SunEdison expects to record non-GAAP solar energy systems sales volume in the range of 260 to 300 MW for full year 2014 and to have completed 1,000 to 1,150 MW of solar energy systems during the year. © PHOTON http://www.sunedison.com http://phx.corporate-ir.net/phoenix.zhtml?c=106680&p=irol-newsArticle_ Print&ID=1986287

 

 

Monty Bannerman

ArcStar Energy

+1-646-402-5076

www.arcstarenergy.com