MEMC Trims Q3 View, Citing Ike; No Long-Term Impact

September 24, 2008 at 11:20 am PT

MEMC Electronic Materials (WFR) this morning trimmed its outlook for the third quarter, citing the impact of a temporary shutdown at its Pasadena, Texas, facility due to Hurricane Ike.

MEMC says it now sees Q3 revenue of $530 million, plus or minus $10 million, with gross margin of 51 percent, plus or minus one percentage point. Previously, the company had forecast revenue of $560 million to $620 million and gross margin of 54-55 percent.

The company said the company’s Pasadena, Texas, facility did not suffer any apparent major damage from Hurricane Ike.

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Tagged with: Barrons, Eric Savitz, frontpage, Hurricane Ike, MEMC Electronic Materials, Tech Trader Daily

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