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UPDATE 1-Energy Conversion Q4 loss widens
(Adds details, Q1 and FY08 revenue view)
Aug 29 (Reuters) - Energy Conversion Devices Inc (ENER.O), an alternative energy technology company, reported a wider fourth-quarter loss on restructuring charges and other costs.
The Rochester Hills, Michigan-based company incurred restructuring charges of $5.4 million or 14 cents a share in the quarter, mainly due to severance costs associated with job cuts in its ovonic materials segment.
The company said it sees additional restructuring costs of $3 million to $5 million in fiscal 2008.
Energy Conversion expects first-quarter consolidated revenue of $40 million and $45 million. Analysts' consensus is for revenue of $41.2 million for the period, according to Reuters Estimates.
The company forecast fiscal 2008 consolidated revenue of $220 million to $245 million. Analysts on average expect revenue of $225.1 million for the period.
Energy Conversion reported a fourth-quarter loss of $13.1 million, or 33 cents a share, compared with a loss of $769,000, or 2 cents a share, a year ago. Revenue, however, rose 29 percent to $36 million.
Analysts on average were expecting a loss of 11 cents a share, before items, on revenue of $35.1 million. (Reporting by Sunil Mathew Paul in Bangalore)
