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Last 1.68 NOK
Change Today -0.044 / -2.55%
Volume 19.8M
As of 10:25 AM 06/30/15 All times are local (Market data is delayed by at least 15 minutes).

rec silicon asa (REC) Snapshot

Open
1.72 NOK
Previous Close
1.73 NOK
Day High
1.76 NOK
Day Low
1.68 NOK
52 Week High
07/21/14 - 4.07 NOK
52 Week Low
01/16/15 - 1.51 NOK
Market Cap
3.9B
Average Volume 10 Days
25.9M
EPS TTM
0.13 NOK
Shares Outstanding
2.3B
EX-Date
--
P/E TM
1.6x
Dividend
--
Dividend Yield
--
Current Stock Chart for REC SILICON ASA (REC)

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rec silicon asa (REC) Details

REC Silicon ASA produces and sells silicon materials worldwide. It provides solar and electronic grade polysilicon for the solar energy industries; and silicon gases for the electronics industries. The company was formerly known as Renewable Energy Corporation ASA and changed its name to REC Silicon ASA in October 2013. REC Silicon ASA is headquartered in Lysaker, Norway.

720 Employees
Last Reported Date: 05/6/15

rec silicon asa (REC) Top Compensated Officers

Chief Executive Officer and President
Total Annual Compensation: $1.2M
Chief Financial Officer
Total Annual Compensation: $293.7K
Vice President of Legal and General Counsel
Total Annual Compensation: $386.8K
Vice President of Commercial
Total Annual Compensation: $616.4K
Compensation as of Fiscal Year 2014.

rec silicon asa (REC) Key Developments

REC Silicon ASA Reports Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2015; Provides Production Guidance for the Second Quarter of 2015 and Capital Expenditures Guidance of the Full Year 2015

REC Silicon ASA reported unaudited consolidated earnings and operating results for the first quarter ended March 31, 2015. The company reported first quarter 2015 revenues of USD 74.4 million compared to USD 113.4 million a year ago. The corresponding EBITDA during the first quarter was USD 24.8 million compared to USD 17.5 million a year ago. Profit from continuing operations was USD 46.7 million or USD 0.02 per basic and diluted share compared to loss from continuing operations of USD 49.7 million or USD 0.02 per basic and diluted share a year ago. LBIT was USD 11.5 million compared to USD 15.9 million a year ago. Profit before tax from continuing operations was USD 32.2 million compared to loss before tax from continuing operations of USD 70.5 million a year ago. Profit attributable to Owners of REC Silicon ASA from total operations was USD 46.0 million or USD 0.02 per basic and diluted share compared to loss from total operations of USD 51.1 million or USD 0.02 per basic and diluted share a year ago. Net cash flow used in operating activities was USD 27.2 million compared to net cash flow from operating activities of USD 35.1 million a year ago. Payments for property, plant and equipment and intangible assets was USD 14.4 million compared to USD 2.7 million a year ago. Total polysilicon sales volumes decreased by 48.0% to 2,390 MT compared to the fourth quarter of 2014. Decreased volumes were caused by lower seasonal demand, excess polysilicon and wafer inventories, and the timing of deliveries caused by the West Coast port slowdown in the US. Silicon gas sales volumes decreased by 13.3% to 736 MT compared to the fourth quarter of 2014 and were in line with announced targets of 730 MT. Total polysilicon production volume for the first quarter decreased by 2.4% to 5,210 MT compared to the fourth quarter of 2014 and was 1.7% below announced targets of 5,300 MT. REC Silicon targets second quarter 2015 polysilicon production of 5,100 MT. Second quarter Silicon gas sales volumes are targeted at 700 MT. For 2015 total capital expenditures are expected to be approximately USD 85 million including USD 60 million for capacity expansion initiatives in Moses Lake and Butte.

REC Silicon ASA, Q1 2015 Earnings Call, May 06, 2015

REC Silicon ASA, Q1 2015 Earnings Call, May 06, 2015

REC Silicon ASA Reports Audited Consolidated and Parent Company Earnings Results for the Year Ended December 31, 2014; Provides Production Guidance for the First Quarter and Capital Expenditure Guidance for the Year 2015

REC Silicon ASA reported audited consolidated and parent company earnings results for the year ended December 31, 2014. For the year, on consolidated basis, the company reported revenues of USD 493.0 million compared to USD 417.6 million a year ago. EBITDA was USD 232.9 million compared to USD 50.7 million a year ago. EBIT was USD 94.1 million compared to LBIT of USD 86.1 million a year ago. Profit before tax from continuing operations was USD 218.8 million compared to loss before tax from continuing operations of USD 244.8 million a year ago. Profit from continuing operations was USD 213.4 million compared to loss from continuing operations of USD 160.0 million a year ago. Earnings per basic and diluted share from continuing operations were USD 0.09 compared to loss per basic and diluted share of USD 0.07 a year ago. EBITDA excluding special items was USD 131.9 million compared to USD 30.3 million a year ago. Net cash flows from operating activities were USD 87.7 million compared to net cash flows out from operating activities of USD 1.2 million a year ago. Payments for property, plant and equipment and intangible assets were USD 35.8 million compared to USD 37.4 million a year ago. Profit from total operations was USD 212.8 million or USD 0.09 per diluted share against loss from total operations of USD 352.7 million or USD 0.16 per diluted share a year ago. Total capex expenditure during 2014 was USD 38 million, USD 22 million on maintenance. For the year, on non-GAAP basis, the parent company reported total revenues of NOK 0.6 million compared to NOK 12.0 million a year ago. LBIT was NOK 34.2 million compared to NOK 100.7 million a year ago. Profit before income tax was NOK 1,331.6 million compared to loss before income tax of NOK 983.2 million a year ago. Profit for the year was NOK 1,331.6 million compared to loss for the year of NOK 987.4 million a year ago. Net cash outflow from operating activities was NOK 193.2 million compared to net cash inflow from operating activities of NOK 6.6 million a year ago. Payments for property, plant and equipment and intangible assets were NOK 0.2. For year 2015, the company’s capital expenditures are expected to be approximately USD 85 million and include USD 60 million for capacity expansion initiatives in Moses Lake and Butte. The company targets first quarter 2015 polysilicon production of 5,300 MT.

 

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Industry Analysis

REC

Industry Average

Valuation REC Industry Range
Price/Earnings 1.7x
Price/Sales 1.2x
Price/Book 0.5x
Price/Cash Flow 1.2x
TEV/Sales 0.6x
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