MEMC notes year-on-year sales increase

Wafer manufacturer MEMC Electronic Materials has announced its financial results for the second quarter ending 30 June 2010, posting net sales of $448.3m (£287m), which represents an increase of 2.4 per cent from $437.7m in the previous quarter and 58.5 per cent from $282.9m in the prior-year quarter. 

Gross profit in the quarter was $76.9m, or 17.2 per cent of net sales, which represents an increase of 29.7 per cent from $59.3m in previous quarter and 120.3 per cent from $34.9m in the prior-year quarter.