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SunEdison widens loss in 3Q [St. Louis Post-Dispatch](St. Louis Post-Dispatch (MO) Via Acquire Media NewsEdge) Nov. 06--SunEdison Inc. reported a larger loss in the third quarter as interest payments rose and it upped spending on marketing and administration. But Ahmad Chatila, the Maryland Heights-based company's CEO, said SunEdison would continue the "pursuit of the transformational strategy that the company has outlined." SunEdison reported a net loss of $283.4 million, or $1.06 per share in the quarter ended Sept. 30. In the third quarter last year, it reported a loss of $108 million, or 47 cents per share. Revenue rose 11 percent to $681.2 million, and gross profit increased to $67.9 million from $60.6 million. SunEdison has been on a spending spree over the last year, adding staff and developing rooftop and utility-scale solar arrays around the world. It finished building 297 megawatts of solar in the last three months, and it plans to complete between 335 megawatts and 485 megawatts of solar arrays this quarter. It launched a yield-co in July to buy its developed solar assets and generate cash from the electricity. It also sold off part off its semiconductor business. SunEdison maintains control over both of those, although it has said it plans to sell off the majority of its stake in SunEdison Semiconductor. SunEdison consolidates those companies' earnings into its own. Its solar energy sales, separated out, were $437.2 million last quarter, compared to $410.1 during the same time last year. Jacob Barker is a business reporter at the Post-Dispatch. Follow him on Twitter @jacobbarker and the Business section @postdispatchbiz. ___ (c)2014 the St. Louis Post-Dispatch Visit the St. Louis Post-Dispatch at www.stltoday.com Distributed by MCT Information Services |