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Business Description
MEMC Electronic Materials, Inc. is engaged in the production of wafers for the semiconductor industry. The Company provides wafers in sizes ranging from 100 millimeters to 300 millimeters and in three categories: prime polished, a highly refined, pure wafer with an ultra-flat and ultra-clean surface; epitaxial, a thin, silicon layer grown on the polished surface of the wafer and test/monitor, which is substantially the same as a prime polished wafer, but with some less rigorous specifications. The Company's wafers are used as a starting material for the manufacture of various types of semiconductor devices, including microprocessor, memory, logic and power devices. In turn, these semiconductor devices are used in computers, cellular phones and other mobile electronic devices, automobiles and other products. Its principal customers are semiconductor device manufacturers, including memory, microprocessor and applications specific integrated circuit manufacturers, as well as foundries.

Financial Information
For the nine months ended 9/30/04, revenues rose 32% to $759.6 million. Net income rose 90% to $156.2 million. Revenues reflect higher sales volume and price increases. Earnings also benefited from improved gross and operating margins.