MEMC Electronic Materials Shares Jump on Q2 Results

by Christopher Freeburn | August 8, 2012 1:25 pm

MEMC Electronic Materials Shares Jump on Q2 Results

MEMC Electronic Materials (NYSE:WFR[1]) announced on Wednesday that it lost $61.3 million during the second quarter[2], 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.

Endnotes:
  1. WFR: http://studio-5.financialcontent.com/investplace/quote?Symbol=WFR
  2. during the second quarter: http://www.msnbc.msn.com/id/48571909/ns/business-us_business/

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