SunEdison Slips To Loss In Q3

(RTTNews) - SunEdison Inc. (SUNE) reported that its third-quarter net loss attributable to stockholders was $108.0 million or $0.47 per share, compared to net income $37.00 million or $0.16 per share in the same quarter last year.

The company said that the 2013 third quarter results reflected improved execution with some continued softness in its Semiconductor Materials segment.

On a non-GAAP basis, net income for the quarter was $4.1 million and breakeven per share, compared to $70.5 million and $0.30 per share last year. Analysts polled by Thomson Reuters expected the company to report a loss of $0.12 per share. Analysts' estimates typically exclude special items.

Net sales for the quarter rose to $611.5 million from $601.6 million in the prior year quarter. Non-GAAP net sales were $672.0 million down from $708.9 million last year. Eleven analysts had consensus revenue estimate of $561.65 million for the quarter.

For the fourth quarter 2013, the company expects Semiconductor Materials revenue between $220 million and $230 million, and Capital spending of $28 million - $38 million.

For the full year 2013, the company anticipates Semiconductor Materials revenue to be between $920 million and $930 million, Capital spending of $130 million - $140 million.