industrialinfo.com - MEMC Electronic Maintains 3Q Revenue Target as Polysilicon Demand Softens

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MEMC Electronic Maintains 3Q Revenue Target as Polysilicon Demand Softens

SUGAR LAND--September 5, 2008--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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Industry Segment: Industrial Manufacturing
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