MEMC bullish over rest of 2013

A SunEdison solar array

A SunEdison solar array

Investors forgave MEMC Electronic Materials for a weak first quarter, as it maintained its bullishness about its solar activities for the rest of 2013.

Missouri-based MEMC narrowed its first-quarter loss to $89.4m – down from $98.6m during the same period in 2012 – even as revenues dropped 15% to $443.6m.

The smaller loss was largely attributable to an improved performance from its Semiconductor Materials business segment, while the revenue drop resulted from weakness in its Solar Energy division – both in terms of selling its own PV kit and commissioning projects.

But MEMC – which will soon adopt the name of its solar-development arm, SunEdison – had expected a “soft” quarter for solar, as chief executive Log in to read complete article.

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