UPDATE 1-MEMC profit falls short of estimates

* Q2 EPS 6 cents vs Wall St expectations for 9 cts

* MEMC sees 2010 EPS below previous guidance of 70-80 cts

* MEMC shares fall 6.6 pct

SAN FRANCISCO, July 29 (Reuters) - Profit soared at silicon maker MEMC Electronic Materials Inc (WFR.N), but the second-quarter results fell short of Wall Street expectations and its shares fell more than 6 percent.

The maker of the key raw material for the solar and semiconductor industries raised its 2010 revenue expectations to $1.85 billion from $1.75 billion but expects profits to be below previous expectations of 70 cents per share to 80 cents per share.

MEMC's second-quarter net income was $13.8 million, or 6 cents per share, versus $1.4 million, or 1 cent per share, a year earlier.

Sales for the quarter were $448.3 million, up nearly 59 percent from a year ago. The results include $30.7 million from the SunEdison business that was acquired in November 2009.

Wall Street analysts on average expected the company to earn 9 cents per share basis on a revenue of $466.23 million, according to Thomson Reuters I/B/E/S.

The results included a non-cash benefit of $15.5 million resulting from the closure of tax audits, and a non-cash charge of $6.8 million associated with a valuation adjustment of warrants.

Shares of MEMC fell 6.6 percent to $10.51 in after-hours trade after closing 2.1 percent lower at $11.26 in regular trading on the New York Stock Exchange. (Reporting by Poornima Gupta; Editing by Tim Dobbyn)