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March 10, 2011

Evergreen Loses $377M On Plant Closing

Evergreen Solar Inc. of Marlborough lost $411 million in the fourth quarter of 2010, mostly because of the closing of its Devens plant.

Inventory write-down and asset impairment connected to the closing cost the company $377.5 million. The company's loss for the same quarter in 2009 was $98.4 million.

Revenues for the fourth quarter rose to $89.3 million, from $74.5 million for the same quarter in 2009.

For the full year, Evergreen's revenues rose to $338.8 million, from $271.8 million in 2009. It lost a total of $465 million in 2010, compared with $266 million the previous year.

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