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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>SECURITIES
AND EXCHANGE COMMISSION<BR>
</B></FONT><B><FONT STYLE="font-size: 10pt">WASHINGTON, D. C. 20549</FONT></B></P>

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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT<BR>
<FONT STYLE="font-size: 10pt">Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934<BR>
<BR>
</FONT></B>Date of Report (Date of earliest event reported): <B>May 9, 2012</B></P>

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<BR STYLE="mso-special-character: line-break">
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 18pt"><B>MEMC Electronic
Materials, Inc.</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 18pt"><B><BR>
</B></FONT><FONT STYLE="font-size: 10pt">(Exact Name of Registrant as Specified in its Charter)</FONT></P>

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    <TD STYLE="width: 32%; padding-right: 5.25pt; padding-left: 5.25pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Delaware</TD>
    <TD STYLE="width: 2%; padding-right: 5.25pt; padding-left: 5.25pt; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-right: 5.25pt; padding-left: 5.25pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1-13828</TD>
    <TD STYLE="width: 2%; padding-right: 5.25pt; padding-left: 5.25pt; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-right: 5.25pt; padding-left: 5.25pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">56-1505767</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.25pt; padding-left: 5.25pt; text-align: center">(State or other jurisdiction of<BR> Incorporation)</TD>
    <TD STYLE="padding-right: 5.25pt; padding-left: 5.25pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.25pt; padding-left: 5.25pt; text-align: center">(Commission File Number)</TD>
    <TD STYLE="padding-right: 5.25pt; padding-left: 5.25pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 5.25pt; padding-left: 5.25pt; text-align: center">(I.R.S. Employer <BR> Identification Number)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

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    <TD STYLE="width: 49%; padding-right: 5.25pt; padding-left: 5.25pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">501 Pearl Drive (City of O'Fallon)<BR> St. Peters, Missouri</TD>
    <TD STYLE="width: 2%; padding-right: 5.25pt; padding-left: 5.25pt; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 49%; padding-right: 8.25pt; padding-left: 1.9pt; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">63376</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 5.25pt; padding-left: 5.25pt; text-align: center">(Address of principal executive offices)</TD>
    <TD STYLE="padding-right: 5.25pt; padding-left: 5.25pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 8.25pt; padding-left: 1.9pt; text-align: center">(Zip Code)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>(636) 474-5000<BR>
</B>(Registrant's telephone number, including area code)</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>Not Applicable<BR>
</B>(Former name or former address, if changed since last report)</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provision (see General Instruction A.2 below):</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)</TD>
</TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR></TABLE>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD><TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 2.02. Results of Operations and Financial Condition.
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On May 9, 2012, MEMC Electronic Materials, Inc. (the &ldquo;Company&rdquo;
or &ldquo;MEMC&rdquo;) issued a press release reporting results of operations for the first quarter ended March 31, 2012. A copy
of the press release is furnished with this Form 8-K as Exhibit 99.1. Also furnished as Exhibit 99.2 to this Form 8-K is a slide
presentation that will be presented by the Company on its earnings call on May 9, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">MEMC makes reference to certain non-GAAP financial measures
including non-GAAP revenue, non-GAAP gross margin, adjusted non-GAAP gross margin, non-GAAP income (loss) per share, non-GAAP operating
income, non-GAAP net loss, adjusted non-GAAP net loss and non-GAAP free cash flow use. The press release contains a reconciliation
of each non-GAAP measure to the directly comparable GAAP measure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">These non-GAAP measures of non-GAAP revenue, non-GAAP gross
margin, non-GAAP income (loss) per share, non-GAAP operating income, non-GAAP net loss and non-GAAP free cash flow use include
adjustments to revenue in the Company&rsquo;s Solar Energy (SunEdison) segment from direct sales of solar energy systems where
we have received upfront partial payments and, absent real estate accounting requirements, we would have recognized revenues under
the percentage of completion accounting method. The non-GAAP measures also include adjustments to non-GAAP revenue and/or profit
deferred related to SunEdison&rsquo;s maximum exposure for power warranties, system uptime guarantees and breach of contract provisions
offered to the direct sale customers for these systems that are considered continuing involvement by SunEdison in the sold solar
energy systems. This revenue is not recognized as of the reporting date under GAAP real estate accounting rules because the solar
energy systems are considered integral to the real estate on which they were built. Absent real estate accounting requirements,
deferred revenues related to continuing involvement would be recognized under GAAP during the reporting period because SunEdison
has historically experienced minimal losses related to these guarantees. For these direct sales, the sales contracts have been
executed and SunEdison has either received payment in full or maintains a valid and legal note receivable for the full sales price
that SunEdison expects to collect within a short period after completion of the project.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The non-GAAP measures also include revenue related to SunEdison
sale-leaseback transactions accounted for as financings.&nbsp;&nbsp;This includes cash received for the legal sale of the solar
energy system to the purchaser that will not be recognized under GAAP.&nbsp;&nbsp;Non-GAAP operating income includes the upfront
cash margin in an amount equal to the difference between (a) the cash received as of the reporting date from SunEdison&rsquo;s
financing partners in sale-leaseback transactions considered financings and (b) SunEdison&rsquo;s total costs to construct the
solar energy systems sold under the sale-leaseback transactions.&nbsp;&nbsp;These sale-leaseback transactions are classified as
financing transactions under GAAP because the system is considered integral to the land or building on which it resides and because
SunEdison has continuing involvement with the system through a purchase option.&nbsp;&nbsp;This system development margin will
be recognized under GAAP upon termination of the related lease through the non-cash extinguishment of the debt offset by any remaining
net book value of the solar energy system asset.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company believes that these non-GAAP measures represent
important internal measures of performance for the SunEdison business, and better reflect SunEdison&rsquo;s income and near-term
cash flows.&nbsp;&nbsp;Accordingly, where these measures are provided, it is done so that investors have the same financial data
that management uses to evaluate the operational and financial performance of the SunEdison business unit. MEMC management uses
these measures to manage the SunEdison business because it believes these measures are more representative of the operational health
and performance of that business. These non-GAAP measures should not be considered as a substitute for, and should only be read
in conjunction with, measures of financial performance prepared in accordance with GAAP and the reconciliation of each non-GAAP
measure to the directly comparable GAAP measure set forth in the press release.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The non-GAAP measures shown for the fourth quarter of 2011 also
include special adjustments related to non-cash charges (goodwill and deferred tax asset impairments), restructuring and other
costs (primarily non-cash) to streamline future operations recorded in the 2011 fourth quarter. Management believes it is useful
and more representative of the results of the continuing operations in the reporting period to have non-GAAP earnings per share
reflect exclusion of these charges and unfavorable tax consequences related to world-wide income distribution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The tables included with the press release refer to the Company&rsquo;s
EBITDA for the first quarters of 2012 and 2011 as well as the quarter ended December 31, 2011. EBITDA is a non-GAAP disclosure
consisting of net income plus interest expense, net, provision for income taxes and depreciation and amortization. The Company
believes that EBITDA is useful to an investor in evaluating the Company&rsquo;s operating performance and liquidity because (i)
it is widely used to measure a company&rsquo;s operating performance without regard to items such as depreciation and amortization,
which can vary depending upon accounting methods and the book value of assets, (ii) it presents a meaningful measure of corporate
performance exclusive of the Company&rsquo;s capital structure and the method by which the assets were acquired, and (iii) it is
a widely accepted financial indicator of a company&rsquo;s ability to service its debt, as the Company is required to comply with
certain covenants and limitations that are based on variations of EBITDA in the Company&rsquo;s financing documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The press release also references the Company&rsquo;s free cash
flow and free cash flow use for the first quarter of 2012. The Company also believes that the non-GAAP measure of &ldquo;free cash
flow&rdquo; is useful to help investors better understand the capital intensity of our business, including our project financing
operations. In addition to other key performance indicators, the Company evaluates the performance of the solar project business
on the cash generation abilities of the projects, which are typically financed at the inception of the leases, resulting in a gain
on sale that is deferred and not immediately included in net income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Finally, because the impairment charges for the fourth quarter
of 2011 described in the press release are non-cash charges unrelated to ongoing operations, management determined that including
among the non-GAAP financial performance measures the non-GAAP earnings per share excluding this charge would be useful as more
representative of the results of the reporting period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 9.01. Financial Statements and
Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>(d) Exhibits&#9;Item</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 10%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;99.1</TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 78%; padding-right: 5.4pt; padding-left: 5.4pt">Press release dated May 9, 2012 furnished with this Report.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;99.2</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Slide presentation furnished with this Report.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934 the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top; padding-top: 3; padding-right: 3">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 3; padding-right: 3"><B>MEMC ELECTRONIC MATERIALS, INC.</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 3; padding-right: 3">&nbsp;Date: May 9, 2012</TD>
    <TD COLSPAN="2" STYLE="padding-top: 3; padding-right: 3">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 46%; padding-top: 3; padding-right: 3">&nbsp;</TD>
    <TD STYLE="width: 8%; padding-top: 3; padding-right: 3">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 46%; border-bottom: Black 1pt solid; padding-top: 3; padding-right: 3">/s/ Bradley D. Kohn</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 3; padding-right: 3">&nbsp;</TD>
    <TD STYLE="padding-top: 3; padding-right: 3">Name:&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 3; padding-right: 3"> Bradley D. Kohn&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding-top: 3; padding-right: 3">&nbsp;</TD>
    <TD STYLE="padding-top: 3; padding-right: 3">Title:&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-top: 3; padding-right: 3">Senior Vice President, General Counsel and Corporate Secretary&nbsp;</TD></TR>
</TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B><U>Exhibit Index</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U></U></B>&#9;<B><U> </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0 0 1pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0 0 1pt; text-indent: 0; border-bottom: Black 1pt solid">&nbsp;<B>Number</B></TD>
    <TD STYLE="padding: 0 0 1pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0 0 1pt; text-indent: 0; border-bottom: Black 1pt solid">&nbsp;<B>Item</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 10%; padding: 0; text-indent: 0">&nbsp;99.1</TD>
    <TD STYLE="width: 2%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 78%; padding: 0; text-indent: 0">Press release dated May 9, 2012 furnished with this Report.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
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    <TD STYLE="padding: 0; text-indent: 0">&nbsp;99.2</TD>
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    <TD STYLE="padding: 0; text-indent: 0">Slide presentation furnished with this Report.</TD></TR>
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{"company-data": {"conformed-name": "MEMC ELECTRONIC MATERIALS INC", "cik": "0000945436", "assigned-sic": "3674", "irs-number": "561505767", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-13828", "film-number": "12825773"}, "business-address": {"street1": "501 PEARL DRIVE (CITY OF O'FALLON)", "city": "ST. PETERS", "state": "MO", "zip": "63376", "phone": "6364745000"}, "mail-address": {"street1": "501 PEARL DRIVE (CITY OF O'FALLON)", "city": "ST. PETERS", "state": "MO", "zip": "63376"}}
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
May 9, 2012
MEMC Electronic
Materials, Inc.
(Exact Name of Registrant as Specified in its Charter)
Delaware
1-13828
56-1505767
(State or other jurisdiction of
Incorporation)
(Commission File Number)
(I.R.S. Employer
Identification Number)
501 Pearl Drive (City of O'Fallon)
St. Peters, Missouri
63376
(Address of principal executive offices)
(Zip Code)
(636) 474-5000
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provision (see General Instruction A.2 below):
¨
Written communications pursuant to Rule 425 under
the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under
the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02. Results of Operations and Financial Condition.
On May 9, 2012, MEMC Electronic Materials, Inc. (the "Company"
or "MEMC") issued a press release reporting results of operations for the first quarter ended March 31, 2012. A copy
of the press release is furnished with this Form 8-K as Exhibit 99.1. Also furnished as Exhibit 99.2 to this Form 8-K is a slide
presentation that will be presented by the Company on its earnings call on May 9, 2012.
MEMC makes reference to certain non-GAAP financial measures
including non-GAAP revenue, non-GAAP gross margin, adjusted non-GAAP gross margin, non-GAAP income (loss) per share, non-GAAP operating
income, non-GAAP net loss, adjusted non-GAAP net loss and non-GAAP free cash flow use. The press release contains a reconciliation
of each non-GAAP measure to the directly comparable GAAP measure.
These non-GAAP measures of non-GAAP revenue, non-GAAP gross
margin, non-GAAP income (loss) per share, non-GAAP operating income, non-GAAP net loss and non-GAAP free cash flow use include
adjustments to revenue in the Company's Solar Energy (SunEdison) segment from direct sales of solar energy systems where
we have received upfront partial payments and, absent real estate accounting requirements, we would have recognized revenues under
the percentage of completion accounting method. The non-GAAP measures also include adjustments to non-GAAP revenue and/or profit
deferred related to SunEdison's maximum exposure for power warranties, system uptime guarantees and breach of contract provisions
offered to the direct sale customers for these systems that are considered continuing involvement by SunEdison in the sold solar
energy systems. This revenue is not recognized as of the reporting date under GAAP real estate accounting rules because the solar
energy systems are considered integral to the real estate on which they were built. Absent real estate accounting requirements,
deferred revenues related to continuing involvement would be recognized under GAAP during the reporting period because SunEdison
has historically experienced minimal losses related to these guarantees. For these direct sales, the sales contracts have been
executed and SunEdison has either received payment in full or maintains a valid and legal note receivable for the full sales price
that SunEdison expects to collect within a short period after completion of the project.
The non-GAAP measures also include revenue related to SunEdison
sale-leaseback transactions accounted for as financings.  This includes cash received for the legal sale of the solar
energy system to the purchaser that will not be recognized under GAAP.  Non-GAAP operating income includes the upfront
cash margin in an amount equal to the difference between (a) the cash received as of the reporting date from SunEdison's
financing partners in sale-leaseback transactions considered financings and (b) SunEdison's total costs to construct the
solar energy systems sold under the sale-leaseback transactions.  These sale-leaseback transactions are classified as
financing transactions under GAAP because the system is considered integral to the land or building on which it resides and because
SunEdison has continuing involvement with the system through a purchase option.  This system development margin will
be recognized under GAAP upon termination of the related lease through the non-cash extinguishment of the debt offset by any remaining
net book value of the solar energy system asset.
The Company believes that these non-GAAP measures represent
important internal measures of performance for the SunEdison business, and better reflect SunEdison's income and near-term
cash flows.  Accordingly, where these measures are provided, it is done so that investors have the same financial data
that management uses to evaluate the operational and financial performance of the SunEdison business unit. MEMC management uses
these measures to manage the SunEdison business because it believes these measures are more representative of the operational health
and performance of that business. These non-GAAP measures should not be considered as a substitute for, and should only be read
in conjunction with, measures of financial performance prepared in accordance with GAAP and the reconciliation of each non-GAAP
measure to the directly comparable GAAP measure set forth in the press release.
The non-GAAP measures shown for the fourth quarter of 2011 also
include special adjustments related to non-cash charges (goodwill and deferred tax asset impairments), restructuring and other
costs (primarily non-cash) to streamline future operations recorded in the 2011 fourth quarter. Management believes it is useful
and more representative of the results of the continuing operations in the reporting period to have non-GAAP earnings per share
reflect exclusion of these charges and unfavorable tax consequences related to world-wide income distribution.
The tables included with the press release refer to the Company's
EBITDA for the first quarters of 2012 and 2011 as well as the quarter ended December 31, 2011. EBITDA is a non-GAAP disclosure
consisting of net income plus interest expense, net, provision for income taxes and depreciation and amortization. The Company
believes that EBITDA is useful to an investor in evaluating the Company's operating performance and liquidity because (i)
it is widely used to measure a company's operating performance without regard to items such as depreciation and amortization,
which can vary depending upon accounting methods and the book value of assets, (ii) it presents a meaningful measure of corporate
performance exclusive of the Company's capital structure and the method by which the assets were acquired, and (iii) it is
a widely accepted financial indicator of a company's ability to service its debt, as the Company is required to comply with
certain covenants and limitations that are based on variations of EBITDA in the Company's financing documents.
The press release also references the Company's free cash
flow and free cash flow use for the first quarter of 2012. The Company also believes that the non-GAAP measure of "free cash
flow" is useful to help investors better understand the capital intensity of our business, including our project financing
operations. In addition to other key performance indicators, the Company evaluates the performance of the solar project business
on the cash generation abilities of the projects, which are typically financed at the inception of the leases, resulting in a gain
on sale that is deferred and not immediately included in net income.
Finally, because the impairment charges for the fourth quarter
of 2011 described in the press release are non-cash charges unrelated to ongoing operations, management determined that including
among the non-GAAP financial performance measures the non-GAAP earnings per share excluding this charge would be useful as more
representative of the results of the reporting period.
Item 9.01. Financial Statements and
Exhibits.
(d) Exhibits	Item
99.1
Press release dated May 9, 2012 furnished with this Report.
99.2
Slide presentation furnished with this Report.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934 the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
MEMC ELECTRONIC MATERIALS, INC.
Date: May 9, 2012
By:
/s/ Bradley D. Kohn
Name:
Bradley D. Kohn
Title:
Senior Vice President, General Counsel and Corporate Secretary
Exhibit Index
Number
Item
99.1
Press release dated May 9, 2012 furnished with this Report.
99.2
Slide presentation furnished with this Report.