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