MEMC Electronic Materials (WFR) Sees Q4 non-GAAP Revs, EPS Below Views
MEMC Electronic Materials, Inc. (NYSE: WFR) today announced preliminary results for the fourth quarter 2011.
MEMC now anticipates fourth quarter 2011 GAAP revenue to be in the range of $698 million to $733 million, above the range previously expected and provided in the company's December 8, 2011 restructuring news release. The company anticipates GAAP EPS for the period will be in the range of ($6.50) to ($5.78), slightly lower than the previously announced range of ($6.38) to ($5.20). GAAP EPS includes all charges associated with previously announced restructuring and related charges.
MEMC anticipates fourth quarter 2011 non-GAAP revenue will be approximately $753 million to $792 million, with non-GAAP EPS in the range of ($0.23) to ($0.17). Non-GAAP EPS excludes restructuring, goodwill and other impairments, and related charges, and includes the company's customary adjustments related to its SunEdison project development business. The estimated non-GAAP EPS range is below the previously estimated range primarily due to solar energy project timing and largely non-cash adverse tax effects associated with world-wide income distribution (which tax effects impacted both GAAP and non-GAAP EPS). Excluding these unfavorable tax effects, non-GAAP EPS for the quarter is expected to be in the range of ($0.11) to ($0.05). The following reconciliation table provides a complete summary of these GAAP to non-GAAP measures.
The Street is modeling revs of $808 million and earnings of 1 cent per share.
MEMC ended the quarter with approximately $586 million of unrestricted cash and total liquidity in excess of $800 million.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
MEMC now anticipates fourth quarter 2011 GAAP revenue to be in the range of $698 million to $733 million, above the range previously expected and provided in the company's December 8, 2011 restructuring news release. The company anticipates GAAP EPS for the period will be in the range of ($6.50) to ($5.78), slightly lower than the previously announced range of ($6.38) to ($5.20). GAAP EPS includes all charges associated with previously announced restructuring and related charges.
MEMC anticipates fourth quarter 2011 non-GAAP revenue will be approximately $753 million to $792 million, with non-GAAP EPS in the range of ($0.23) to ($0.17). Non-GAAP EPS excludes restructuring, goodwill and other impairments, and related charges, and includes the company's customary adjustments related to its SunEdison project development business. The estimated non-GAAP EPS range is below the previously estimated range primarily due to solar energy project timing and largely non-cash adverse tax effects associated with world-wide income distribution (which tax effects impacted both GAAP and non-GAAP EPS). Excluding these unfavorable tax effects, non-GAAP EPS for the quarter is expected to be in the range of ($0.11) to ($0.05). The following reconciliation table provides a complete summary of these GAAP to non-GAAP measures.
The Street is modeling revs of $808 million and earnings of 1 cent per share.
MEMC ended the quarter with approximately $586 million of unrestricted cash and total liquidity in excess of $800 million.
Get immediate access to market moving news and alerts with StreetInsider.com Premium - FREE TRIAL!
You May Also Be Interested In
- UPDATE: Bristow Group (BRS) Reports Better-Than-Expected Q4 Results; Offers FY13 Outlook
- Notable 52-Week Highs and Lows of the Day 05/17: (ARRY) (NTES) (PCYC) High; (WFR) (VALE) (CLWR) Low
- Movado (MOV) Offers Strong Prelim. Q1 Results; Raises FY13 Sales Outlook
Create E-mail Alert Related Categories
Guidance, Hot GuidanceRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
