MEMC Electronic Materials Inc. announced unaudited consolidated financial results for the first quarter ended March 31, 2013. For the quarter, the company reported net sales of $443.6 million against $519.2 million a year ago. Operating loss was $33.5 million against $54.2 million a year ago. Loss before income taxes and equity in loss of joint ventures was $81.6 million against $81.3 million a year ago. Loss before equity in loss of joint venture was $101.1 million against $98.3 million a year ago. Net loss attributable to the company’s stockholders was $89.4 million or $0.40 per diluted share against $98.6 million or $0.43 per diluted share a year ago. Net cash used in operating activities was $118.6 million against $386.7 million a year ago. Capital expenditures were $30.8 million against $40.0 million a year ago. Non-GAAP net sales were $431.3 million against $523.8 million a year ago. Non-GAAP operating loss was $41.4 million against $58.4 million a year ago. Non-GAAP net loss was $35.5 million or $0.16 per diluted share against $66.0 million or $0.29 per diluted share a year ago. EBITDA was $37.9 million against LBITDA of $1.8 million a year ago. Operating cash used was primarily driven by changes in working capital related to project construction and timing of collections. Capital expenditures included $4.7 million related to the previously announced acquisition of a TCS plant as part of a contract settlement with Evonik. For the second quarter of 2013, the company expects capital spending between $30 million and $40 million. For the full year 2013, the company expects capital spending between $30 million and $40 million.

MEMC Electronic Materials Inc., Q1 2013 Earnings Call, May 09, 2013

MEMC Electronic Presents at Bloomberg New Energy Finance Summit, Apr-23-2013 03:00 PM. Venue: Grand Hyatt, New York, New York, United States. Speakers: Vijay Chinnasami, SVP Solar Materials.