MEMC reports fourth-quarter financial results

Semiconductor and solar-technology company MEMC Electronic Materials has announced financial results for the fourth quarter of2010, reporting GAAP net sales of $850.1m, which was an increase of 69 per cent from $503.1m in the third quarter of 2010 and an increase of 138 per cent from $356.7m in the fourth quarter of 2009. 

Non-GAAP net sales for the quarter were $949.5m

MEMC’s fourth-quarter GAAP net income was $11.4 million, or $0.05 per share, compared with $17.6m, or $0.08 per share, in the third quarter and a net loss of $7.1m, or $0.03 per share, in the prior-year quarter. 

Non-GAAP net income for the quarter was $58.2m, or $0.25 per share.