MEMC Electronics Plummets After Company Suspends Guidance (WFR)

MEMC Electronics WFR reported fiscal third quarter non-GAAP net income of $22 million or $0.10 per share on Monday after the closing bell. This came in below Wall Street EPS expectations of $0.13. Non-GAAP net sales were $550.8 million compared to analysts' revenue estimates of $531.27 million. The company also announced that it is suspending its 2010 EPS guidance. The shares have fallen 7.50% to $11.72 in after hours trading.