Evergreen Solar Reports Fourth-Quarter and Year-End Results
Evergreen Solar Inc. (Waltham, MA) has announced results for the fourth quarter and year ended December 31, 2000. Product revenues for the three months ended December 31, 2000 were $213,000, an increase of 213 percent from $68,000 for the same period of the prior year. Net loss attributable to common stockholders was $2.2 million in the fourth quarter, or $0.29 per share, as compared with $1.5 million, or $1.90 per share in the fourth quarter of 1999.
For the twelve months ended December 31, 2000, product revenues were $419,000, a 122 percent increase from $189,000 for fiscal 1999. Research revenues for the year were $1.8 million, as compared to $2.1 million for the prior year. Net loss attributable to common stockholders for the twelve months ended December 31, 2000 was $7.5 million, or $2.96 per share.
“We are pleased with our 2000 results," stated Mark A. Farber, president and CEO of the company." He added, “We currently estimate that our revenue ramp this year will be delayed at least one quarter, and operating losses for 2001 will likely increase to over $10 million. In addition to the $7 million in capital expenditures from 2000, we anticipate an additional $10 to $13 million through the first half of 2001, and further capital expenditures will be required to achieve full capacity in Marlboro. During the remainder of 2001, we will focus on starting operation of the new manufacturing line in Marlboro."