MEMC Posts $149 Million Loss For Fiscal 2012

Photo courtesy of Bloomberg

MEMC Electronic Materials Inc. reported a loss of $148.7 million in the fiscal year ended Dec. 31, compared to a $1.52 billion loss in fiscal 2011, reflecting ongoing challenges and volatile market dynamics in both of its business segments.

The St. Peters-based company reported net sales of $2.53 billion in fiscal 2012, down 7 percent from $2.72 billion in fiscal 2011.

“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,” MEMC CEO Ahmad Chatila said in a statement.

MEMC supplies silicon wafers for the solar and semiconductor industries and develops solar projects through its SunEdison unit.

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