This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

MEMC Electronic Materials' CEO Discusses Q1 2012 Results - Earnings Call Transcript

Please note that this call will include forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from management's current expectations. We encourage you to review the Safe Harbor statement contained in the earnings release and in the slides published today for a more complete description.

And now, I will turn the call over to Ahmad Chatila, our Chief Executive Officer.

Ahmad R. Chatila

Thanks, Chris. Good afternoon, everyone. In my remarks today, I will discuss the performance of our 2 business units in the first quarter, provide an update on our restructuring and comment on our current positioning.

In our Semiconductor business, we believe the market bottomed in the first quarter and is now beginning to recover. We are seeing improved order volumes in the second quarter. We are fully committed to our Semiconductor business and will invest judiciously to further our market position. We are executing on our cost reduction plan and with improved efficiencies will lower our breakeven revenue level and increase profitability in the next up cycle. These actions will leave us well positioned to drive meaningful improvement in EBITDA and free cash flow generation as we move into the second half of 2012.

Our priorities in Semiconductor business for 2012 remain unchanged. We plan to continue to lower costs through manufacturing efficiencies, labor productivity and SG&A reductions. Also, expand capacity largely through increased factory productivity as well as prudent capital expenditures and finally, maintain our market share while optimizing price.

In our Solar Energy business, the market, while still volatile, is showing signs of stabilization. Price reductions continue but the rate of decline has slowed. Even so, we expect the market environment to remain challenging throughout 2012. Our Solar Energy business continues to focus on executing our pipeline of projects while reducing costs, improving efficiency and minimizing capital expenditures. These efforts and the favorable positioning of this business around the world continue to help us strengthen our position as a leader in the worldwide solar energy.

2 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,122.01 +15.31 0.09%
S&P 500 2,000.12 +0.10 0.00%
NASDAQ 4,569.6210 -1.0160 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs