Evergreen Solar says 1Q revenue was $78.5 million

Evergreen Solar Inc. said Monday that its first-quarter revenue was about $78.5 million, higher than analysts expected and 44 percent above its revenue a year earlier.

The company, which makes solar-power products using silicon wafers, did not forecast its profit.

In the same period a year earlier, the company lost $64.3 million, and analysts were expecting it to report an adjusted loss of 9 cents per share, or nearly $19 million, for the quarter that ended April 3.

Evergreen is scheduled to report first-quarter results May 4.

The company said it shipped enough products to generate about 35.4 megawatts of power, or about enough to power 35,000 homes.

The average selling price in the first quarter was about $2.20 per watt, about 4 percent less the previous quarter. Evergreen said its manufacturing costs were $2.05 per watt, flat with the fourth quarter.

Evergreen expects to produce 37 megawatts to 38 megawatts in the second quarter.

Its shares rose 6 cents to $1.18 in regular trading Monday and another 9 cents in extended trading after release of the revenue estimate.

Labels: Earnings, ESLR, Evergreen Solar, Solar power, Solar Stocks

posted by Ertai at 1:33 PM