MEMC Electronic Materials (WFR) Misses, But Posts Strong Guidance

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08:00:39 pm on February 1, 2011

MEMC Electronic Materials (WFR) reported results tonight that were below analyst estimates, but shares are up a few percent in after hours trading.  The company reported a non GAAP EPS of .25/share on revenues of $850 million which represented big growth over the year ago quarter of 933% and 138% respectively. 

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"Our fourth quarter results extended MEMC’s recent trend of steady improvement, with SunEdison delivering its strongest quarter to date," said Chief Executive OfficerAhmad Chatila. "While semiconductor and solar end markets are dynamic, we are improving our execution while continuing strategic initiatives that will catalyze our growth in 2011 and beyond."

Looking ahead, WFR sees full year 2011 revenues in the range of$3.4– 3.7 billion and earnings per share of$1.00 to $1.30.  Those views are ahead of analyst estimates which is the catalyst for the stock move after hours.

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