MEMC Electronic Materials (WFR) Cuts Q4 Sales Guidance
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MEMC Electronic Materials, Inc. (NYSE: WFR) lowers its Q4 sales guidance from about $500 million to $400-$425 million, versus the consensus of $493 million.
"The revised outlook is primarily a result of a continued deterioration in end demand for semiconductor products amid the weak macroeconomic environment," commented Marshall Turner, MEMC's Interim CEO. "In addition, we have reduced certainty that some remaining semiconductor orders that have been booked for delivery this quarter will be pulled by customers, and that some customers who have placed short-term orders for solar products will meet all of our purchase conditions, given their tight credit environment. We are revising our outlook to account for this uncertainty."
MEMC Electronic Materials, Inc. designs, manufactures, and sells silicon wafers for the semiconductor industry worldwide.
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