MEMC swings to profit as solar results improve

MEMC Electronic Materials swung to a third-quarter profit of $37 million, compared with a loss of $77 million in the year-ago quarter. Earnings totaled 16 cts/share, compared with analysts’ consensus of a 12 cts/share loss, as reported by Thomson Reuters (New York). Sales were up 17% year-on-year (YOY), to $602 million.   Solar energy sales were up 46% YOY, to $361 million, though they declined 37% sequentially. The YOY increase was due to an improvement in solar project and solar module sales from an extremely weak level in the year-ago quarter. The...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers