US-based MEMC post $11.8m Q4 net loss on volatile markets

14 February 2013 03:27  [Source: ICIS news]

SINGAPORE (ICIS)--MEMC Electronic Materials posted a net loss of $11.8m (€8.73m) in the fourth quarter of 2012, because of ongoing challenges and volatile market dynamics, the US-based silicon wafer company said late on Wednesday.

“The past year was a challenging one, in which both of our end markets faced hurdles created by macroeconomic concerns and an intensely competitive environment,” said Ahmad Chatila, MEMC’s CEO.

Net sales for the fourth quarter was at $600.7m, representing a decline of 16% from $717.8m in the fourth quarter of 2011 and a decrease of 0.1% from $601.6m in the third quarter of 2012, the company said in a statement.

The year-on-year decline was partly due to the semiconductor segment’s flat year-on-year revenue as increased volume of semiconductor wafers was offset by weaker pricing, the company said in a statement.

For the full year 2012 net loss stood at $150.6m as compared with a huge loss of $1.54bn in 2011.

Net sales for the full year 2012 were $2.53bn, a decrease of 7% from $2.72bn in 2011, the company said.

“In 2013, we will strengthen our leadership position by penetrating new markets in solar and further streamlining our semiconductor operations,” Chatila said.

($1 = €0.74)

By: Surinder Malhi
+65 6780 4327

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