SAN JOSE, Calif. Solar-cell maker Evergreen Solar Inc. announced that revenues for the first quarter of 2006 increased 12 percent to $11.6 million from $10.3 million in the first quarter of 2005, and were flat compared to the $11.6 million reported for the fourth quarter of 2005.
Net loss attributable to common stockholders for the first quarter of 2006 was $8.1 million, or $0.13 per share. This figure includes approximately $2.6 million in Evergreen Solar's share of net losses associated with the production ramp-up at EverQ and compares with a net loss of $3.2 million, or $0.06 per share, for the first quarter of 2005 and a net loss of $5.0 million, or $0.08 per share, for the fourth quarter of 2005.
Also during the first quarter, Renewable Energy Corporation (REC) accelerated its silicon deliveries to Evergreen. Under its supply contract, REC has committed to provide EverQ and Evergreen Solar with 190 and 60 metric tons, respectively, of solar grade silicon annually over the next seven years. This volume is sufficient for both the Marlboro factory and the initial 30 megawatts of production at EverQ's Thalheim factory.
The company continues to expect Evergreen Solar's consolidated revenue to increase throughout the year, more than doubling from 2005 levels for full-year 2006 as the EverQ operation ramps production.
Based on the current assessment of EverQ's second-quarter supply chain status and planned production ramp, the company now expects EverQ to achieve $8 to $13 million in revenue for the second quarter, increasing to ranges of $16 to $22 million and $23 to $25 million for the third and fourth quarters, respectively.
Evergreen Solar expects quarterly revenue from its Marlboro factory to continue in the $10 to $12 million range for the balance of 2006.