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MEMC posts Q4 financial results

Posted: 31 Jan 2006 ?? ?Print Version ?Bookmark and Share

Keywords:financial results? MEMC Electronic Materials?

MEMC Electronic Materials Inc. reported preliminary financial results for Q4, which ended Dec. 31, 2005.

According to the press release, the net sales of $317.3 million for Q4 2005 represent an increase of 18.2 percent from the same quarter of the previous year. Meanwhile, an operating income of $95.8 million was reported, accounting for 30.2 percent of sales, compared to the 25.9 percent of sales in 2004's fourth quarter.

The financial report from MEMC also states that for the year ended Dec. 31, 2005, the company's net sales increased by 9.4 percent to $112 billion, compared to $102 billion in 2004. Operating income was $285.2 million, or 25.4 percent of sales, compared to $260.5 million, or 25.3 percent of sales in 2004.

MEMC CEO Nabeel Gareeb commented that the "stronger pricing environment has materialized and contributed to good incremental margins." Gareeb also observed that unit demand for the semiconductor and solar industries continued to "show strong growth, and there are no short-term indications of a slow down."

Gareeb predicts the company's Q1 2006 sales to be between $315 and $320 million, gross margin close to 40 percent, and operating expenses to be between $30 and $31 million. "Compared to our non-GAAP results for the 2005 fourth quarter of $304.8 million of sales and gross margin of 37.8 percent, this would represent a 3-5 percent increase in revenue, and approximately 200 basis point increase in margin," Gareeb said.




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