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Evergreen says revenue was $78.5m

Associated Press / April 20, 2010

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MARLBOROUGH — Evergreen Solar Inc. said yesterday that its first-quarter revenue was about $78.5 million, higher than analysts expected and 44 percent above its revenue a year earlier.

The company, which makes solar-power products using silicon wafers, did not forecast its profit.

In the same period a year earlier, the company lost $64.3 million, and analysts were expecting it to report an adjusted loss of nearly $19 million for the quarter that ended April 3.

Evergreen is scheduled to report first-quarter results May 4.

The company said it shipped enough products to generate about 35.4 megawatts of power, or about enough to power 35,000 homes.

The average selling price in the first quarter was about $2.20 per watt, about 4 percent less than in the previous quarter.

Evergreen said its manufacturing costs were $2.05 per watt, flat with the previous quarter.

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