MEMC Electronic Materials Shares Jump on Q2 Results

The company saw increase solar energy and semiconductor sales

   

MEMC Electronic Materials (NYSE:WFR) announced on Wednesday that it lost $61.3 million during the second quarter, compared to earnings of $47.3 million in the same period last year.

The semiconductor maker said it recorded revenue of $808.4 million during the quarter, up 8% from $745.6 million in 2011. That topped the $722.2 million that Wall Street was looking for, the Associated Press noted.

Adjusted EPS, excluding one-time charges, was 14 cents for the quarter. Analysts had forecast a loss of one cent per share.

Investors liked the results. Shares of MEMC Electronic Materials jumped more than 14% in Wednesday afternoon trading.

Company officials said that increased European sales at its solar energy unit and rising silicon wafer sales at its semiconductor unit had helped boost quarterly results.


Article printed from InvestorPlace Media, http://investorplace.com/2012/08/memc-electronic-materials-shares-jump-on-q2-results/.

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