Evergreen Solar (ESLR) Still Seeing Red

Evergreen Solar (ESLR) continues to post steep losses and hasn’tcome close to a profit in nearly two years now.  After the bell today,the company posted nearly $100 million in losses, but more than half ofthat was related to a big write off related to the investment inSovello.  Still, it equates to a .20/share loss after the write down istaken out. 

Adding insult to injury, the company ended the four quarterstreak of sequential revenue growth, posting $74.5 million.  That’s anearly 70% improvement over last year, but less than last quarter’s $78million.  This is company that needs a shakeup, probably inmanagement.  The cost cutting clearly isn’t working and if they don’tmake big improvements soon I think you’ll see them bought out at firesale prices or bankrupt within a year.  The Massachusetts company isworking to move assembly operations to China to cut costs further, butwill it be too little too late?   

Shares of ESLR are down about 5% in after hours trading.


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