Thursday, April 23, 2009

Solar:"MEMC Q1 Top Line Misses; EPS Beats; No Guidance". And: "SunPower Whiffs Q1; Guides Below Ests; Cuts CapEx Plan" (SPWRA; WFR)

Barron's Eric Savitz is a machine during earnings season. I count 31 post (so far) today.
Just amazing, I don't know of anyone else who does what he does.
Two from TTD:

MEMC Electronic Materials (WFR) this afternoon posted Q1 sales of $214 million, down 49.7% sequentially and 57.3% year over year, and below the Street at $217.3 million. The company posted a profit of a penny a share, which beat the Street estimate of a loss of 2 cents a share.

Gross margin fell to 9.2%, from 45.3% in Q4, and 51.7% a year ago.

MEMC said that due to limited visibility amid the economic downturn, it will will not provide revenue or margin outlook. The company said that wafer demand for semiconductor applications has begun to show some signs of improvement early in Q2, “although still far below levels seen in the recent past.”>>>MORE

SunPower (SPWRA) this afternoon posted Q1 revenues of $214 million, down from $401 million in the fourth quarter and $274 million a year ago, and well below the Street consensus at $269 million. The company reported non-GAAP profits of 5 cents a share, below the Street at 24 cents.

The solar systems company said results was impacted by seasonality, the credit crisis and difficult economic conditions....MORE