Info
Info
News Article

MEMC Provides Operational And Financial Update Following Hurricane Ike

News
The company has updated its financial targets following the delay of raw material deliveries from its suppliers due to the effects of Hurricane Ike.
“As stated in our press release from last week, our Pasadena facility did not experience any apparent major damage, and we were able to start up the plant systems in preparation for production to begin Monday, September 14, as planned,” stated Nabeel Gareeb, MEMC's chief executive officer. “However, some of our regional suppliers had startup difficulties primarily due to power availability, plant issues, and pipeline damage as a result of the Hurricane, preventing them from starting high volume delivery of some raw materials until yesterday. This resulted in the Pasadena facility running at very low utilisation levels through the early part of this week. We now believe we are at the tail end of these raw material issues, which should allow us to achieve normal production rates within the next few days. Assuming there are no significant issues during this ramp, we now expect the cumulative impact of these delays to be approximately 15 days worth of production instead of the 5 days originally forecast. Consequently, we are now targeting third quarter 2008 revenue to be approximately $530 million, plus or minus $10 million, with gross margin of approximately 51%, plus or minus 1%. Operating expenses are still targeted to be approximately $43 million.”

“We do not expect any long term impacts from these delays, nor do we expect any significant interruption to our ongoing capacity expansion activities. We would like to publicly recognise the commitment and hard work of our employees, as well as those of our vendors, in enabling us to recover from the effects of this storm, in spite of the challenges the Hurricane has presented to them in their personal lives,” concluded Gareeb.
ACM Research Launches Stress-Free Polishing Tool For Advanced Packaging Applications; Delivers First Tool To Leading Chinese OSAT
Efinix’s Trion FPGA Silicon Platform Expands Into Europe
Critical Manufacturing Recognized By Gartner
A Burgeoning Secondary SME Market Is Inevitable
EV Group Establishes Heterogeneous Integration Competence Center
DISCO Presented With The Supplier Continuous Quality Improvement (SCQI) Award By Intel Corporation
Semiconductor Memory Adoption To Be Augmented By Penetration Of Smartphones Across The Globe
Pfeiffer Vacuum Introduces Extremely Quiet, Dry Pumps
Semiconductor Memory Market Worth Over USD 250 Bn By 2026
Particle Measuring Systems Releases 20 Nm Syringe Sampler
SUSS MicroTec Purchases The Inkjet Printer Division Of Meyer Burger B.V.
Park Systems Announces $1 Million Dollar Nano Research Grant Fund
Semiconductor Manufacturing: Achieving Water Authority Compliance
Security Lithography Advances To Thwart IC Counterfeiting
50th Hollow Cathode Gas Plasma Source Ordered From Meaglow
The AP&S Demo Center Will Help You. Request Your Wet Process Demonstration And Be Part Of It Live Via Video Chat.
Infineon Withdraws Outlook For FY20
Picosun Delivers Multiple Production ALD Systems To Asia
Imec Demonstrates 24 Nanometer Pitch Lines With Single Exposure EUV Lithography
Picosun Reinforces Local Operations During The COVID-19 Epidemic
ASYMTEK And DIMA Products Now Entirely Represented In Switzerland By Neutec Electronic AG
Intel Shines Amidst The Carnage Of The 2019 Semiconductor Market
High-end Inertial Sensors: At The Dawn Of A Mass-adoption?
GLOBALFOUNDRIES And GlobalWafers Sign MOU

Info
×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
×
Logo
×
Register - Step 1

You may choose to subscribe to the Silicon Semiconductor Magazine, the Silicon Semiconductor Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in:
 
X
Info
X
Info
{taasPodcastNotification}