SunEdison posts larger loss as it sells fewer solar farms

Wed Feb 19, 2014 7:44am EST

Feb 19 (Reuters) - U.S. solar company SunEdison Inc reported a larger quarterly net loss as it sold fewer solar projects and sales in its semiconductor business fell.

The company's net loss widened to $286.4 million, or $1.07 per share in the fourth quarter, from $11.8 million, or 5 cents per share, a year earlier.

Sales in its semiconductor business, which makes wafers used in chips for computers, mobile phones and cars, fell 10 percent. The business contributed about 37 percent to sales in the quarter. The rest came from its solar energy unit.

Revenue fell 8 percent to $551.2 million.

The company plans to spin off some solar power plants into a publicly listed company, rather than selling them, to raise funds for new projects.

SunEdison also plans to divest its semiconductor business as it focuses on its higher-margin solar farm business.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article