Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : MEMC INT'L. (WFR -NYSE) The Sleeping Giant? -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (4429)	7/30/1999 8:01:00 PM
From: Ian@SI	Read Replies (1) \| Respond to of 4697

From: semibiznews.com MEMC revenues improve with increasing wafer volumes in Q2 A service of Semiconductor Business News, CMP Media Inc. Story posted 11 a.m. EST/8 a.m., PST, 7/30/99 ST. PETERS, Mo. -- Citing continued improvement in product volumes, wafer supplier MEMC Electronic Materials Inc. here reported that net sales increased 5% sequentially to $168.0 million for the second quarter of fiscal 1999, ended June 30. In the 1999 first quarter, net sales totaled $159.8 million. More significantly, the company's net loss of $39.3 million, or 58 cents per share, was 22% less than the net loss in the first quarter of $50.3 million, or $1.19 per share. MEMC experienced a double-digit percentage increase in product volume from the first quarter, particularly in 150- and 200-mm wafers. Advanced large diameter and epitaxial products as a percent of total volume remained relatively flat compared to the 1999 first quarter. While volumes increased in the current quarter, pricing pressures continued, although the rate of price decline decreased as compared to the 1999 first quarter, MEMC said "As anticipated, MEMC's product volumes continued to improve in the second quarter of 1999 compared to the 1999 first quarter, led by significantly higher product volumes in Asia Pacific, Japan, and the United States," said CEO Klaus von Horde. In Europe, product volumes remained flat sequentially. "Looking forward, we remain cautiously optimistic that product volumes will continue to grow," Horde said. "We believe that our operating results will show continued improvement as a result of the higher volumes and the benefits of the cost reduction programs in place, and, assuming some price stabilization, we expect to achieve a positive gross margin during the third quarter of 1999."