Evergreen Solar’s Wider Loss – Analyst Blog
Zacks Market Commentaries (May 1st, 2009) Writes:
Evergreen Solar, Inc. (ESLR) announced financial results for its 1st quarter ended April 4, 2009.Revenue for the reported 1st quarter of 2009 was $55.8 million, up 26% from $44.2 million in the sequential 4th quarter of 2008, and up 144% from $22.9 million in the year-ago 1st quarter of 2008.Gross margin during the 1st quarter of 2009 was 1.2%, down compared to 4.6% for the 4th quarter of 2008 and 33.6% for the 1st quarter of 2008. The decreased gross margin from last year was due to lower average selling prices and lower fees from Sovello.The net loss for the 1st quarter of 2009 was $64.3 million, or -$0.40 per share, including charges of $43.9 million for the write-off of a loan receivable and related interest from a future silicon supplier, $3.5 million of facility start-up costs for the second phase of ...


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