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SunEdison loss widens due to charge on convertible debt
May 8, 2014 / 10:22 AM / 3 years ago

SunEdison loss widens due to charge on convertible debt

May 8 (Reuters) - Solar company SunEdison Inc reported a much bigger first-quarter loss after taking a charge on its convertible notes due to a large increase in the company’s share price.

The company’s net loss widened to $613.6 million, or $2.31 per share, in the first quarter ended March 31, from $89.4 million, or 40 cents per share, a year earlier.

Net sales rose 23 percent to $546.5 million.

SunEdison shares, which have risen 26 percent in the last three months, closed at $18.31 on Wednesday on the New York Stock Exchange. (Reporting by Swetha Gopinath in Bangalore; Editing by Savio D‘Souza)

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