UPDATE 2-Evergreen Solar quarterly loss widens
* Q2 EPS ex-items 8 cts misses Wall St view of 7 cts loss
* Q2 revenue nearly triples to $63.8 million
* Shares flat with close at $2.38 (Add analysts estimates, sales volumes)
NEW YORK, July 30 (Reuters) - U.S. solar company Evergreen Solar Inc ESLR.O on Thursday reported a slightly worse than expected loss as lower selling prices offset rising sales volumes.
The second-quarter net loss was $20.3 million, or 11 cents per share, compared with a net loss of $8.9 million, or 8 cents per share, a year ago.
Excluding $5.3 million in losses from its Sovello joint venture and $1.5 million in facility costs, the loss per share of 8 cents, slightly larger than the 7 cents per share loss that analysts had on average forecast, according to Reuters Estimates.
Revenue nearly tripled to $63.8 million, topping the $62.61 million that analysts were expecting, according to Reuters Estimates.
Like many in the solar industry, Evergreen has been hurt by a drop in demand for solar panels that has lead to a glut in the market and weaker prices.
Evergreen said it shipped 23.2 megawatts of solar power products at $2.70 per watt, versus shipments of 17.3 MW in the first quarter at $3.13 per watt.
Shares were unchanged from their close of $2.38 a share. Those shares had risen 3.9 percent in regular-session Nasdaq trade. (Reporting by Matt Daily; Editing by Gary Hill, Bernard Orr)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints



Follow Reuters