UPDATE 1-MEMC posts profit, pulls full-year forecast

* Q3 EPS of 8 cts vs year ago loss of 29 cts

* Co pulls forecast because of solar projects uncertainty

* Shares slide in post market trade

NEW YORK, Nov 1 (BestGrowthStock) – Silicon maker MEMC Electronic
Materials Inc (WFR.N: ) swung to a third quarter profit (Read more your timing to make a profit.) from a
year-ago loss, and pulled its full-year profit forecast, citing
uncertainty around the sales of solar projects, and its shares
fell.

Net profit for the quarter was $17.6 million, or 8 cents
per share, compared to a loss of $64.6 million, or 29 cents per
share, in the year-ago quarter.

Net sales for the quarter rose 62 percent to $503.1
million.

MEMC has said it would sell its 70 megawatt (MW) Rovigo
project in Italy to First Reserve for 276 million euro ($383
million). That deal will close once the plant is linked to the
nation’s power grid, which is expected before year-end.

Rovigo is part of a pipeline of projects that are being
developed by SunEdison LLC, which was bought by MEMC last
year.

Shares in MEMC fell 10.7 percent to $11.32 in post-market
trade.
(Reporting by Matt Daily; editing by Carol Bishopric)

UPDATE 1-MEMC posts profit, pulls full-year forecast