Evergreen Solar Inc. (Marlboro, MA) announced results for the third quarter ended September 30, 2001. For the three months ended September 30, 2001, product revenues were $424,000, an increase of $315,000 from $109,000 for the same period in 2000. Research revenues for the third quarter of 2001 were $153,000, as compared to $420,000 for the same period of last year. Net loss for the third quarter of 2001 was $3.5 million, or $0.31 per share, as compared with a net loss of $1.3 million, or $2.45 per common share, for the third quarter of 2000. At September 30, 2001, cash, cash equivalents and short-term investments totaled $30.0 million, compared to $34.1 million at June 30, 2001.
For the nine months ended September 30, 2001, product revenues were $782,000, a $576,000 increase from $206,000 reported for the same period in 2000. Research revenues for the first nine months of 2001 were $831,000, as compared to $1.4 million for the first nine months of 2000. Net loss for the first nine months of 2001 was $8.7 million, or $0.77 per share, as compared to a net loss of $3.2 million, or $6.34 per common share, for the same period in 2000.
"Continued progress with the manufacturing scale-up has enabled us to double product revenues over last quarter, and we are aiming for another significant increase in product revenues in the fourth quarter," commented Mark Farber, president and CEO of Evergreen Solar. "Validating our manufacturing technology at commercial scale is our most important objective at this time."
