MEMC (WFR +5.6%) hits levels last seen a year ago after soundly beating Q4 estimates. An...

|By:, SA News Editor

MEMC (WFR +5.6%) hits levels last seen a year ago after soundly beating Q4 estimates. An unexpected 3% Q/Q increase in solar division revenue - fueled by a 23% increase in sold solar project capacity to 91MW - drove the beat. Solar sales still fell 24% Y/Y thanks to weak wafer/module demand, while chip wafer sales were flat (higher volumes were offset by price drops) Q1 and 2013 guidance will be provided at MEMC's March 13 Capital Markets Day. (PR) (slides)