MEMC Electronics Whiffs Earnings (WFR)

MEMC MEMC Electronics Whiffs Earnings (WFR)

MEMC Electronics (WFR) continues to struggle and missed Wall St EPSestimates after the bell today, posting another quarter of red ink at-.02/share (minus one time cost associated with Sun Edisonacquisition) 

Wall St expected a flat quarter and the whisper numberactually called for a small profit, so the stock is selling off a bitafter hours, but how it trades tomorrow will depend largely on theguidance which the company will give ahead of the bell tomorrow. 

I still believe WFR is close to bottoming out and that thestock saw the lows in 2008 at $10/share.  Despite the earnings miss,revenues continue to improve sequentially after bottoming out in thefirst quarter of 09 (last 4 qtrs – $214 mill, $283, $310, $357), butit’s probably going to take more time for this big, double bottom baseto play out.  I’ll continue to watch it looking for a place to add along term position.  I think that happens with a few weeks or couple ofmonths max. 

Shares are currently down about 3% in after hours trading.

MEMC Electronics (WFR) Misses Estimates, Posts Loss But Continues To Improve