Shares of MEMC Electronics Materials(WFR Quote) were among technology's winners Friday, jumping 16.5% after the maker of silicon wafers posted better-than-expected fourth-quarter results and issued a bullish outlook for its first quarter and full year.
The company earned $129 million, or 56 cents a share, on revenue of $420.5 million. Adjusted earnings came in at $157.8 million, or 68 cents a share. Analysts polled by Thomson First Call expected earnings of 59 cents a share on revenue of $416.1 million. During the year-earlier period, the company earned $50.2 million, or 22 cents a share, on revenue of $303.4 million.
Looking ahead, MEMC sees first-quarter revenue of roughly $440 million. It sees full-year adjusted earnings topping $3 a share on revenue of more than $1.9 billion. Analysts project first-quarter revenue of $424.7 million and full-year earnings of $2.55 a share on revenue of $1.84 billion. Shares were trading up $7.18 to $50.80. ...
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