MEMC Electronic Materials Turns a Profit, but Points to Slowdown

Earnings Scorecard
Actual	Estimated*	Year-Ago
$0.02	-$0.01	-$0.49

MEMC Electronic Materials(WFR Quote) 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.