MEMC Electronic Materials Turns a Profit, but Points to Slowdown
Aileen Gallagher
01/29/01 - 06:22 PM EST
| Earnings Scorecard |
| Actual | Estimated* | Year-Ago |
| $0.02 | -$0.01 | -$0.49
|
 |
MEMC Electronic Materials(WFR) posted a fourth-quarter profit, reversing Wall Street's consensus estimate that called for a loss, but the company cautioned investors to expect a slowdown in the next quarter.
The company reported fourth-quarter income of $1.7 million, or 2 cents a share. In fourth quarter of 1999, the silicon wafer maker posted a loss of $33.9 million, or 49 cents a share. Revenue rose 39% to $255 million from $183 million in the same quarter last year.
Two analysts polled by
First Call/Thomson Financial thought MEMC would lose a penny a share.
MEMC, which is based in St. Peters, Mo., said "we expect first-quarter 2001 revenue to be moderately below our fourth-quarter revenue, but to continue showing year-over-year growth."
Shares of MEMC gained 40 cents, or 3.6%, to close the
New York Stock Exchange regular session at $11.40.
