WASHINGTON (dpa-AFX) - MEMC Electronic Materials Inc. (WFR) Wednesday reported first-quarter net loss of $92.0 million or $0.40 per share, compared to $4.5 million or $0.02 per share last year.
Adjusted net loss for the quarter was $59.4 million or $0.26 per share, compared to adjusted net income of $21.5 million or $0.09 per share last year. On average, analysts polled by Thomson Reuters expected loss of $0.16 per share for the quarter. Analysts' estimates typically exclude one-time items.
Revenues for the first quarter dropped 29 percent to $519.2 million from $735.9 million in the first quarter last year. Adjusted revenues for the quarter were $523.8 million, a decrease of 37 percent from $832.6 million in the first quarter last year. Analysts estimated revenues of $496.37 million for the quarter.
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