MEMC Electronic Materials
The 10-second takeaway
For the quarter ended March 31 (Q1), MEMC Electronic Materials beat slightly on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank significantly. Non-GAAP loss per share dropped. GAAP loss per share didn't move.
Gross margins expanded, operating margins grew, net margins dropped.
MEMC Electronic Materials tallied revenue of $431.3 million. The 14 analysts polled by S&P Capital IQ expected net sales of $423.1 million on the same basis. GAAP reported sales were 15% lower than the prior-year quarter's $519.2 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.16. The 15 earnings estimates compiled by S&P Capital IQ forecast -$0.14 per share. Non-GAAP EPS were -$0.16 for Q1 versus -$0.26 per share for the prior-year quarter. GAAP EPS of -$0.40 were the same as the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 11.2%, 30 basis points better than the prior-year quarter. Operating margin was -8.6%, 70 basis points better than the prior-year quarter. Net margin was -20.2%, 250 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $585.6 million. On the bottom line, the average EPS estimate is -$0.02.
Next year's average estimate for revenue is $2.78 billion. The average EPS estimate is $0.23.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 1,784 members out of 1,855 rating the stock outperform, and 71 members rating it underperform. Among 328 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 307 give MEMC Electronic Materials a green thumbs-up, and 21 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on MEMC Electronic Materials is outperform, with an average price target of $5.86.
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