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Thursday, February 15, 2007
Solar power product maker Evergreen Solar Inc. said today that its fourth-quarter loss widened, as expenses grew with revenue.
Quarterly losses totaled $5.5 million, compared with a loss of $5 million in the prior-year period. Per-share results were flat at a loss of 8 cents, as the number of outstanding shares increased.
Revenue jumped to $32.4 million from $11.6 million.
Wall Street, on average, expected a loss of 7 cents per share on $34.4 million in revenue.
Total operating costs jumped to $13.1 million from $7.6 million, offsetting Evergreen Solar's revenue gains. The company was hurt by a $1.5 million loss on disposal of fixed assets.
Full-year losses widened to $26.7 million, or 41 cents per share, from a prior-year loss of $17.3 million, or 29 cents per share. Annual revenue jumped to $103.1 million from $44 million in 2005. (AP)
Posted by Boston Globe Business Team at 08:39 AM
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