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MEMC Electronic 1Q Loss Narrows On Better Solar Performance

DOW JONES NEWSWIRES MEMC Electronic Materials Inc.'s (WFR) first-quarter loss narrowed, though adjusted results still missed analysts' estimates, as revenue jumped sharply, helped by strength in the company's solar segments. "Our first quarter results demonstrate continued operating improvement in the face of several unanticipated unfavorable events, including legal verdicts and the Japan earthquake," said Chief Executive Ahmad Chatila. MEMC, which makes silicon wafers for the solar and semiconductor industries, has benefited from increased sales in recent quarters. MEMC reported a loss of $4.5 million, or 2 cents a share, narrowed from $9.6 million, or 4 cents, a year earlier. Excluding items related to its SunEdison segment, earnings were 9 cents from a loss of 3 cents. Revenue jumped 68% to $735.9 million. Analysts polled by Thomson Reuters most recently forecast earnings of 13 cents on $639 million in revenue. Gross margin rose to 15.5% from 13.5%. Sales in both its solar-energy and solar-materials segments more than doubled. Shares rose 1.3% to $11.51 after hours. As of the close, the stock had fallen 8.8% the past year. -By Nathan Becker, Dow Jones Newswires; 212-416-2855; nathan.becker@dowjones.com

Stock News for Memc Electronic (WFR)
DateTimeHeadline
04/21/201610:40:00SunEdison Files for Chapter 11 Bankruptcy Protection
04/14/201609:34:00U.S. Hot Stocks: Hot Stocks to Watch
04/14/201609:20:00SunEdison Finds No Material Misstatements or Fraud
04/04/201617:10:00MARKET SNAPSHOT: Stocks End Off 2016 Highs As Oil, Industrials...
04/04/201616:49:00MARKET SNAPSHOT: Stocks End Off 2016 Highs As Oil, Industrials...
04/04/201614:55:00MARKET SNAPSHOT: U.S. Stocks Add To Losses As Slump In Industrials...
04/04/201613:58:00MARKET SNAPSHOT: U.S. Stocks Falter As Consumer-discretionary...
04/04/201613:30:00SunEdison Subsidiary Accuses Parent of Diverting Funds
04/04/201612:55:00MARKET SNAPSHOT: U.S. Stocks Fight Slump In Consumer-discretionary...
04/04/201611:10:00MARKET SNAPSHOT: Stocks Struggle To Make Headway As Volatile...
03/31/201619:10:00SunEdison Gets Justice Department Subpoena, Confirms SEC Inquiry
03/30/201622:30:00CEO of SunEdison's Spinoffs Leaves
03/28/201620:50:00SEC Investigating SunEdison's Liquidity Disclosures to Investors
03/16/201609:47:00U.S. Hot Stocks: Hot Stocks to Watch
03/16/201609:00:00SunEdison, TerraForm Again Delay Annual Reports
03/08/201612:48:00MARKET SNAPSHOT: Stocks Pare Losses As Utilities, Consumer Stocks...
03/08/201612:45:00MARKET SNAPSHOT: Stocks Pare Losses As Utilities, Consumer Stocks...
03/08/201612:36:00MARKET SNAPSHOT: Stocks Pare Losses As Utilities, Consumer Stocks...
03/08/201610:36:00MARKET SNAPSHOT: Dow Tumbles Over 100 Points As Stocks Fall After...
03/08/201609:40:00MARKET SNAPSHOT: Futures Point To Lower Open Despite Oil's Rebound

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