MEMC Electronic Materials (WFR) Misses Street's Q2 Views; Guides; Adds $500M to Buyback
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MEMC Electronic Materials (NYSE: WFR) reports Q2 EPS of $0.92, 8 cents lower than the analyst estimate of $1.00. Revenues for the quarter were $531.4 million, versus the consensus of $558 million.
Sees Q3 sales of $560-$620 million, versus the consensus of $616 million. FY08 EPS are expected to be $4.00-$4.30, versus the consensus of $4.30 and revs of $2.25-$2.35 billion, versus $2.36 billion.
Authorizes a $500 million increase in its buyback program.
MEMC Electronic Materials, Inc. designs, manufactures, and sells silicon wafers for the semiconductor industry worldwide.
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