Evergreen Solar (ESLR) Matches Estimates, Shares Down AH

Posted by Tate Dwinnell | # |
04:14:57 pm on July 30, 2009

Evergreen Solar (ESLR) posted a non GAAP EPS loss of .08/share which matched analyst estimates on revenue that was slightly higher than estimates at $63.8 million.  Considering the company nearly tripled revenues over the previous quarter, it looks like traders expected a better EPS.  This is a company that clearly needs to get costs under control.

Some highlights from the CEO:

– continuing to ramp up production at Devens
– identifying cost cutting programs that will gradually take company to $1.50 per watt at full capacity within two years
– believes the company is well positioned once a strong solar market returns

Shares are trading down about 5% in after hours trading.

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