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MEMC Posts $1.48 Billion Fourth-Quarter Loss as Prices Fall


16 Feb. 2012 by

BUSINESSWEEK - MEMC Electronic Materials Inc., the second-largest U.S. polysilicon maker, posted a fourth-quarter loss 38 percent greater than its market value as the price for the main raw material in solar cells plunged and it had costs related to cutting production and its workforce.


Net loss for the quarter was $1.48 billion, or $6.44 a share, compared with a profit of $12.6 million, or 5 cents, a year earlier, the St. Peters, Missouri-based company said in a statement released after the close of regular trading today. The loss exceeded the $5.90 a share average of 13 analysts’ estimates compiled by Bloomberg.

 

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