MEMC Electronic Materials Suspends 2010 EPS Guidance (WFR)

MEMC Electronic Materials Inc. WFR reports Q3 earnings of $0.10 versus consensus of $0.13. MEMC Electronic Materials Inc. reports revenues of $503.1 million versus consensus of $531.27 million. Revenues increased 12.2% sequentially and 62.3% year over year. Operating cash flow was $52.3 million. "Our third quarter results extended our recent trend of steady improvement," said Ahmad Chatila, MEMC's Chief Executive Officer. "While our end markets are dynamic, we continue to improve our execution, while continuing with strategic initiatives that will catalyze our growth in 2011 and beyond." The company suspended 2010 EPS guidance. Shares of WFR are lower in the after-hours by 9.00%.