MEMC Electronic Materials Earnings: Five Quarters of Double-Digit Revenue Growth

S&P 500 (NYSE:SPY) component MEMC Electronic Materials Inc.’s (NYSE:WFR) first quarter loss narrowed due mainly to positive revenue growth. Memc Electronic Material manufactures and sells silicon wafers that are used primarily in semiconductor and solar energy technologies.

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MEMC Electronic Materials Earnings Cheat Sheet for the First Quarter

Results: Loss narrowed to $4.5 million (loss of 2 cents/diluted share) from $9.6 million (loss of 4 cents/share) in the same quarter a year earlier.

Revenue: Rose 68.1% to $735.9 million YoY.

Actual vs. Wall St. Expectations: WFR fell short of the mean analyst estimate of 13 cents/share. Estimates ranged from 5 cents per share to 23 cents per share.

Key Stats:

The company has enjoyed double-digit year-over-year revenue growth for the past five quarters. Over that span, the company has averaged growth of 86.3%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose more than twofold from the year earlier quarter.

WFR’s loss in the latest quarter follows profits in the previous three quarters. The company reported a profit of $12.6 million in the fourth quarter of the last fiscal year, a profit of $17.6 million in the third quarter of the last fiscal year and $13.8 million in the second of the last fiscal year.

Competitors to Watch: Daqo New Energy Corp. (NYSE:DQ), AXT, Inc. (NASDAQ:AXTI), First Solar, Inc. (NASDAQ:FSLR), SunPower Corporation (NASDAQ:SPWRA), Spansion Inc. (NYSE:CODE), Micron Technology, Inc. (NASDAQ:MU), GT Solar Intl., Inc. (NASDAQ:SOLR), Hoku Corporation (NASDAQ:HOKU), Cymer, Inc. (NASDAQ:CYMI), and Photronics, Inc. (NASDAQ:PLAB)

Stock Performance: Shares of WFR are trading up 3.4%.

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