REC Silicon Reports Second-Quarter Results; Fair Value Estimate and Outlook Unchanged
REC Silicon reported second-quarter earnings with revenue of $71.1 million, which was up around 3.1 percent over the same period last year. The company attributed the revenue gain to increased silicon gas sales that were up 14.8 percent over the prior quarter. Despite the revenue increase, EBITDA for the quarter was down $14.3 million. Silicon gas volumes were down approximately 5.8 percent, while the average solar grade polysilicon price increased by 9.7 percent.During the second quarter, FBR...
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.
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