REC Silicon Reports Fourth-Quarter Results; Our Fair Value Estimate Remains Unchanged
REC Silicon reported fourth-quarter earnings with improved sequential performance across each of its segments. Overall, the company raised revenue by approximately 58% and posted positive EBITDA margins. Top line gains were the result of substantial improvements in polysilicon sales volume, which were up 114% sequentially. According to management, polysilicon sales were attributed to higher demand from wafer producers looking to ramp up capacity. During the quarter, average spot prices also expe...REC Silicon is a provider of solar electricity solutions. Co.'s REC Silicon business segment is carried out in the following subsidiaries; REC Solar Grade Silicon LLC, and REC Advanced Silicon Materials LLC. REC Silicon's sales and marketing activities for sales of solar grade polysilicon, semiconductor grade silicon and silicon gases are carried out in China, Japan, Korea, Taiwan, and in the U.S. REC Silicon produces polysilicon and silicon gas for the solar industry and the electronics industry at plants in Moses Lake, WA and in Butte, MT.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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