Published:
MEMC Electronic Maintains 3Q Revenue Target as Polysilicon Demand Softens, an Industrial Info News Alert
Researched by Industrial Info Resources
(Sugar Land, Texas) -- MEMC Electronic Materials Incorporated (NYSE:WFR)
(St. Peters, Missouri) announced in a mid-quarter update on September 2
that its revenue target of between $560 million and $620 million remains
unchanged. According to President and CEO Nabeel Gareeb, "There is
increased softness in demand from semiconductor applications customers,
primarily due to their inventory reduction initiatives." With four weeks
left in the third quarter, Gareeb said MEMC remains "cautiously
optimistic." The company has also raised its targeted operating expenses
from $41 million to $43 million.
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