MEMC Electronic Materials Inc. reported that effective October 30, 2009, Michael Cheles will no longer serve as Vice President, Information Technology for the company.

MEMC Electronic Materials Inc. reported unaudited consolidated financial results for the third quarter and nine months ended September 30, 2009. The company reported third quarter 2009 net sales of $310.0 million, which represents decrease of 43.2% from third quarter 2008 net sales of $546.0 million. The sequential increase in sales was primarily the result of significantly higher wafer volumes for both semiconductor and solar applications, partially offset by price reductions in wafers for solar applications. The company reported an operating loss of $66.7 million during the quarter compared to operating income of $227.5 million in the 2008 third quarter. Net loss for the third quarter was $64.6 million or $0.29 per share, including the restructuring and impairment charges discussed above, additional tax expense of $19.2 million for an unrecognized tax benefit and a negative impact relating to the decrease in the value of the Suntech warrants of $6.3 million. During the third quarter, the company generated operating cash flow of $0.2 million compared to $16.4 million in the 2009 second quarter. Capital expenditures for the third quarter totaled $53.1 million. Loss before income tax (benefit) expense and equity in earnings of joint venture was $68.7 million against income of $221.7 million last year. For nine months, the company reported net loss attributable to common shareholders of $61.2 million or $0.27 per diluted share on net sales of $806.9 million against net income attributable to common shareholders of $317.1 million or $1.38 per diluted share on net sales of $1,578 million for same period a year ago. Operating loss for the period was $116.2 million against operating income of $688.4 million for same period a year ago. Loss before income tax (benefit) expense and equity in earnings of joint venture was $93.2 million against income of $480.4 million last year. Net cash provided by operating activities was $2.0 million against $517.5 million last year. Capital expenditures was $151.8 million against $242.3 million last year.

MEMC Electronic Materials Inc. said that the company is looking for acquisition opportunities. Ahmad Chatila, President and CEO of MEMC Electronic said, “When I spoke with you last quarter, I expanded on the key priorities I have set for the business, including being customer and externally focused, being the low cost leader and showing that we have the best talents, and participating in downstream solar opportunities through potential investment or acquisitions. In addition to the steady progress that we have been making on those priorities including many that I just mentioned today, we have taken another significant step, which will enhance all of those priorities.”