UPDATE 1-Evergreen Solar posts unexpected profit, shares up
The company's shares rose 2.7 percent following the announcement.
Fourth-quarter net income was $788,000, or a penny per share, compared with a loss of $3.7 million, or 4 cents per share, a year ago.
Wall Street analysts, on average, had been expecting a net loss of 4 cents per share, according to Reuters Estimates.
Evergreen Solar is a maker of so-called thin-film solar products, which require less of the costly silicon that is traditionally used to make solar cells and panels. EverQ manufactures solar wafers, cells and panels using Evergreen's "String Ribbon" technology.
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posted on 1/31/2008 at 22:38
