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MEMC Stock Hits $50

Silicon manufacturer MEMC Electronic Materials Inc. (WFR)) announced that profits more than doubled for the Q4 as compared to a year earlier – sales jumped 40%, thanks to increase pressure from the solar industry. For the fourth quarter, earnings were almost $129 million (56 cents per share), compared with $50.2 million (22 cents per share) a year earlier. Revenue was $420.5 million, up 39% from a year earlier, and gross margin was 48.3%. “Introduction of solar wafers has enabled opportunities for faster growth at equivalent or better profit levels,” CEO Nabeel Gareeb said. The company said that while demand from the semiconductor industry is mixed – some companies have inventory issues, compounded by seasonal factors – demand from the solar industry continues to rise. Management said inventories levels are at a historical low because of this demand, which they do not believe will lighten until 2008 at the earliest. The company expects that Q1 will be the low point in demand from the semiconductor industry, and expects to slow sales to the solar sector to meet that wafer demand. The company forecasts $440 million for Q1 07, ahead of analyst estimates of $424.7 million. For 2007, MEMC forecasts revenue of […]

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Green Schools the Hottest Market for Green Building

The education sector is the fastest-growing market for green building, according to a McGraw-Hill Construction (MHC) report. MHC is part of The McGraw-Hill Companies (NYSE: MHP). The report will be released at the Council of Educational Facility Planners International (CEFPI) 5th Annual High Performance Schools Symposium. CEFPI and the U.S. Green Building Council (USGBC) were co-sponsors of the report. That’s good news for the industry, given that education construction is the largest construction sector, by value, at $53 billion for 2007. MHC focused on the education sector because of the specific sensitivities children have to indoor air pollutants and environments, as well as the amount of time students (at the K-12 and university levels) spend in buildings. “Market indicators point to strong green building growth in this sector and we expect the green building share to be significant in five years,” says Harvey Bernstein, MHC vice president of Industry Analytics, Alliances and Strategic Initiatives. The study finds: * a concern for “improved health and well-being” is the most important social reason for using green building in schools – a factor that wasn’t as highly rated in MHC’s prior research into the commercial and residential green building markets; * fiscal advantages […]

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