November 2, 2010
Evergreen Solar Boosts Revenue, Q3 Loss Shrinks
By Matthew L. Brown
Marlborough-based solar panel manufacturer Evergreen Solar Inc. boosted third-quarter revenue to $86.5 million and narrowed its quarterly loss to $27.2 million.
In the same quarter a year ago, the company reported revenue of $75.5 million and a loss of $82.7 million.
The company's operating loss increased from $6 million to $22.7 million as the result of a $6.4-million charge related to the write-off of receivables from a customer and a decrease in royalty revenue.
Evergreen said production at its massive Devens manufacturing facility currently exceeds the original goal of 40 megawatts of production per quarter. It also said it is making good progress toward ramping up production at its newest manufacturing facility in Wuhan, China.
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