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Wacker Reports Lower Net Profit and Sales; Confirms Guidelines

2:09 AM MDT | May 4, 2012 | Natasha Alperowicz

Wacker Chemie today reported major declines in first quarter net profit and sales but said that business has picked up from last year’s weak fourth quarter. The company confirmed its earlier guidelines for the whole of 2012. Net profit reached €40 million ($52.5 million) compared with €168 million in the first quarter of 2011. Earnings per share were €0.84 compared with €3.39 in the year-earlier period.   Wacker’s sales were down 8% at €1.194 billion, due in part to lower prices, particularly in the solar-silicon business...

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