Total
quarterly
revenues
were
down
16%
year-on-year
to
$600.7m
at
Missouri-based
MEMC,
due
to
lower
sales
within
its
Solar
Energy
segment.
But
having
reported
an
operating
loss
of
$1.25bn
in
the
final
quarter
of
2011
–
as
the
company
slashed
1,400
jobs,
and
shut
or
reduced
factories
in
Italy,
Malaysia
and
Oregon
–
MEMC’s
operating
profit
seemed
to
indicate
that
its
restructuring
efforts
are
paying
off.
Despite
MEMC’s
refusal
to
issue
a
forecast
for
2013,
its
shares
rose
more
than
7%
to
$4.82
on
the
report.
The
shares
–
which
were
also
likely
helped
by
US
President
Obama’s
pro-renewables
State…
