* Net loss widens to 88 million Sfr
* Analysts had forecast net loss of 51 mln Sfr
* New orders rise 90 pct to 157 mln Sfr
ZURICH, Aug 12 Swiss solar industry supplier
Meyer Burger posted a bigger-than-expected net loss in
the first half of the year as investments in machinery
outweighed rising sales and orders.
A global glut of solar equipment caused by government
subsidies to encourage green energy has led to falling prices
for more than two years and thrown many of Meyer Burger's
customers into crisis. The company has not reported a profit
since the first half of 2011.
The maker of production systems for solar wafers, cells and
modules said its net loss widened to 88 million Swiss francs
($97 million) in the first six months of this year, from 80.6
million in the same period of 2013. Analysts had, on average,
forecast a net loss of 51 million francs in a Reuters poll.
The result was hit by investments of 40 million francs. The
company, which raised 77.8 million francs through the sale of
new stock in March, burned through 98.7 million francs of cash
in the first half.
Helvea analyst Stefan Gaechter, who rates the stock "hold",
said business would need to improve to prevent Meyer Burger from
having to cut costs and raise more money.
Sales rose 43 percent to 129 million francs, but were
significantly short of the average forecast of 183 million in
the Reuters poll of analysts. A 90 percent rise in new orders to
157 million francs also missed expectations.
The company said it expected to achieve substantial
improvements in new orders and sales in the full year compared
Last week, Germany's biggest solar group SMA Solar
posted its seventh straight quarterly operating loss and warned
of high pricing pressure in coming months.
(1 US dollar = 0.9080 Swiss franc)
(Reporting by Caroline Copley; Editing by Pravin Char)