SunEdison expects to be cash positive through 2016

Wed Oct 7, 2015 9:28am EDT
 
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Oct 7 (Reuters) - Solar company SunEdison Inc said on Wednesday it would cut costs and streamline operations, putting it on track to be cash positive throughout next year.

The company, which said two days ago that it would cut 15 percent of its workforce, has reported negative cash flow from operating activities for the past four years, according to Thomson Reuters data.

SunEdison also said it terminated an agreement to buy renewable energy company Latin American Power, confirming a report in the Wall Street Journal late on Tuesday.

SunEdison's shares rose 10.5 percent to $9.60 in premarket trading. (Reporting by Amrutha Gayathri in Bengaluru; Editing by Savio D'Souza)