MEMC Electronic Materials, Inc. has revised downwards its revenue projections for the fourth quarter of 2008, owing to a slowdown in end demand in both the semiconductor and solar industries, according to the company. MEMC now expects to make between $400 and $425 million in the three-month period, compared to a previous guidance of $500 million plus or minus $25 million. Operating costs for the quarter are expected to remain unchanged at $27 million.
“The revised outlook is primarily a result of a continued deterioration in end demand for semiconductor products amid the weak macroeconomic environment,” said Marshall Turner, MEMC’s Interim CEO. “In addition, we have reduced certainty that some remaining semiconductor orders that have been booked for delivery this quarter will be pulled by customers, and that some customers who have placed short-term orders for solar products will meet all of our purchase conditions, given their tight credit environment. We are revising our outlook to account for this uncertainty.”