Hello
Update for ESLR
I like this chat go up let see what happen
I`m in stock at 8.80 stop 8.30 I buy the stock on friday let see.
Divergence MACD (lolng divergence)
Year-to-Date
Quarter Ended Period Ended
October September October September
1, 30, 1, 30,
2005 2006 2005 2006
-------- --------- -------- ---------
Revenues:
Product revenues $11,092 $36,231 $32,059 $69,846
Research revenues 94 215 328 894
-------- --------- -------- ---------
Total revenues 11,186 36,446 32,387 70,740
-------- --------- -------- ---------
Cost of revenue:
Product revenue costs 9,934 30,525 29,887 64,654
Research revenue costs 94 215 328 895
-------- --------- -------- ---------
Total cost of revenue 10,028 30,740 30,215 65,549
-------- --------- -------- ---------
Gross margin 1,158 5,706 2,172 5,191
Operating expenses (1):
Research and development
expenses 2,971 4,662 7,709 12,813
Selling, general and
administrative expenses 3,115 5,121 8,067 15,917
-------- --------- -------- ---------
Total operating expenses 6,086 9,783 15,776 28,730
-------- --------- -------- ---------
Operating loss (4,928) (4,077) (13,604) (23,539)
Other income (loss) 55 (698) 696 753
-------- --------- -------- ---------
Net loss before minority
interest (4,873) (4,775) (12,908) (22,786)
Minority interest in EverQ loss
(income) 310 (828) 633 1,584
-------- --------- -------- ---------
Net loss attributable to common
stockholders (4,563) (5,603) (12,275) (21,202)
======== ========= ======== =========
Net loss per share attributable
to common stockholders (basic
and diluted) $(0.07) $(0.08) $(0.21) $(0.33)
Weighted average shares used in
computing basic and diluted net
loss per share attributable to
common stockholders 61,178 66,127 59,049 65,229
Year-to-Date
Quarter Ended Period Ended
October September October September
1, 30, 1, 30,
(1) Includes the following
amounts related to equity
awards (in thousands): 2005 2006 2005 2006
-------- --------- -------- ---------
Cost of product revenues $- $117 $- $355
Research and development
expenses - 330 - 1,115
Selling, general and
administrative expenses - 608 - 2,598
Evergreen Solar, Inc. (Nasdaq: ESLR - News)
Condensed Consolidated Balance Sheets
(in thousands, except share data)
(unaudited)
December 31, September 30,
2005 2006
------------ -------------
Assets
Current assets:
Cash and cash equivalents $30,742 $34,254
Marketable securities 85,465 55,643
Accounts receivable, net of allowances for
doubtful accounts and sales discounts of
$65 and $150 at December 31, 2005 and
September 30, 2006, respectively 4,124 22,826
Grants receivable 16,295 18,107
Inventory 3,634 12,420
Interest receivable 541 700
Other current assets 4,052 18,738
------------ -------------
Total current assets 144,853 162,688
Deposits on fixed assets under construction 8,217 1,596
Restricted cash 1,582 795
Long-term investments - 986
Deferred financing costs 2,877 2,545
Fixed assets, net 71,430 142,521
------------ -------------
Total assets $228,959 $311,131
============ =============
Liabilities, minority interest and
stockholders' equity
Current liabilities:
Accounts payable $12,210 $11,832
Short-term borrowings 4,131 38,676
Other accrued expenses 1,625 28,780
Accrued employee compensation 1,778 2,523
Accrued warranty 705 1,123
------------ -------------
Total current liabilities 20,449 82,934
Subordinated convertible notes 90,000 90,000
Deferred grants 16,284 24,316
Other long-term debt 3,553 16,152
------------ -------------
Total liabilities 130,286 213,402
Minority interest in EverQ 11,223 10,354
Stockholders' equity:
Common stock, $0.01 par value, 100,000,000
shares authorized, 61,965,231 and
67,928,659 issued and outstanding at
December 31, 2005 and September 30, 2006,
respectively 620 680
Additional paid-in capital 182,345 201,113
Accumulated deficit (93,009) (114,211)
Deferred compensation (1,036) -
Accumulated other comprehensive loss (1,470) (207)
------------ -------------
Total stockholders' equity 87,450 87,375
------------ -------------
Total liabilities, minority interest and
stockholders' equity $228,959 $311,131
============ =============
About Evergreen Solar, Inc.
Evergreen Solar, Inc. develops, manufactures and markets solar power products using proprietary, low-cost manufacturing technologies. The Company's patented crystalline silicon technology, known as String Ribbon, uses significantly less silicon than conventional approaches. Evergreen Solar's products provide reliable and environmentally clean electric power for residential and commercial applications globally. For more information about the
During the third quarter of 2006:
• Product revenues increased 227 percent to $36.2 million from $11.1 million in the third quarter of 2005, with sales of product manufactured at the first EverQ factory - EverQ-1 - in Germany contributing approximately $25.4 million of the total revenue and over 22 percent gross margin, including 31 percent gross margin for the month of September.
• EverQ-1 ramped to full production capacity in the third quarter. As a result, EverQ achieved profitability for the third quarter of approximately $2.3 million.
• EverQ's second factory - EverQ-2 - broke ground in the quarter and is on track to begin production in the second quarter of 2007, and should reach full capacity by the end of 2007.
"Evergreen Solar continued to execute on all major initiatives in the third quarter," said Richard M. Feldt, President and Chief Executive Officer. "We completed the ramp to full production at the first EverQ factory one quarter ahead of schedule - progressing from groundbreaking to full capacity and profitability in 15 months. We finalized the long-term polysilicon supply, license and technology transfer agreements related to EverQ's partnership, subject to the receipt of regulatory approval. These agreements strengthen our ability to leverage the advantages of our String Ribbon platform. Reflecting the partners' confidence in our String Ribbon technology, we broke ground for the second EverQ factory well before executing the agreements for expanding EverQ." "In Marlboro, we made substantial progress on our Quad Ribbon furnace development to the point where we believe it is likely that the next EverQ expansion - EverQ-3 - will be designed around that new four-ribbon furnace. Additionally, we successfully introduced in Marlboro a new cell fabrication process that increases cell efficiency to just over 14.5 percent, which brings us very close to the industry median." "Third-quarter EverQ revenues exceeded our expectations as we quickly brought the full facility online," Feldt said. "In the fourth quarter, we will be converting the entire EverQ factory to thin wafer production. We believe the combination of this conversion with other manufacturing enhancements will enable us to improve our silicon productivity to less than six grams per watt by year end."
Third-Quarter 2006 Financial Results
Product revenues increased 227 percent to $36.2 million from $11.1 million in the third quarter of 2005, with sales of product manufactured at the first EverQ facility in Germany contributing approximately $25.4 million of the total revenue. Gross margin for the third quarter was 15.7 percent, compared with 10.4 percent for the third quarter a year ago and 4.1 percent for the second quarter of 2006. The increase in product gross margin was expected and primarily resulted from the incremental volume in EverQ production and sales. Net loss attributable to common stockholders for the third quarter of 2006 was $5.6 million, or $0.08 per share. This figure includes the write-off of manufacturing equipment obsoleted by the implementation of new technology at Marlboro amounting to approximately $550,000. This compares with a net loss of $4.6 million, or $0.07 per share, for the third quarter of 2005 and a net loss of $7.5 million, or $0.11 per share, for the second quarter of 2006. Evergreen Solar recorded equity-based compensation expenses of approximately $1.1 million during the third quarter of 2006.
Business Outlook
"Through the EverQ partnership, we have captured the initial promise of our String Ribbon technology and demonstrated that it is exportable, scalable and profitable - at 30MW," Feldt said. "As a result of our accomplishments to date, we have created a clear path to grow the EverQ business to roughly 10 times its current size, generating 300MW of solar production by 2010. Based on our technological capabilities and additional growth opportunities, we believe Evergreen Solar is strongly positioned to be in the forefront of helping the solar industry achieve economic parity with retail grid electricity."
2006 Guidance and EverQ Accounting Clarification
With the signing of the EverQ partnership agreements, and after receipt of German regulatory approval, Evergreen Solar, Q-Cells and REC will become equal partners in EverQ. As a result, all three partners will share equally in the net income generated by the partnership, and Evergreen Solar will adopt the equity method of accounting for its share of EverQ results. Evergreen Solar will continue to market and sell all modules manufactured by EverQ under the Evergreen Solar brand, as well as manage customer relationships and contracts. However, the Company will no longer report gross revenue or cost of goods sold resulting from the sale of EverQ's module production. Despite this change in accounting for product revenue, there will be no change in Evergreen Solar's economic value realized from the EverQ partnership - the Company will still report one-third of EverQ's profit. Evergreen Solar anticipates quarterly revenue from product manufactured at its Marlboro facility to continue in the $10 to $12 million range for the foreseeable future including the fourth quarter of 2006. The Company expects EverQ's fourth-quarter revenue to be in the $20 to $25 million range. Gross margin at Evergreen Solar's Marlboro facility will likely be in the range of 5 to 15 percent for the foreseeable future, as ongoing development of new technology initiatives in Marlboro will continue to consume capacity and limit gross margins. However, actual gross margins in Marlboro could vary widely from this range depending on the timing and extent of the deployment of new technology initiatives. For the fourth quarter of 2006, EverQ gross margin is expected to be sequentially flat compared with the third quarter of 2006, despite costs associated with the complete conversion to the thin ribbon platform, as well as other near-term technology enhancements.
2007 Guidance
In 2007, in addition to reporting revenue from its Marlboro facility, the Company plans to report additional line items for revenue derived from EverQ. Evergreen Solar will separately report the fees received from EverQ for the marketing and sale of EverQ modules by the Company. In addition, the Company will separately report revenues derived from payments by EverQ for the Company's R&D efforts on behalf of EverQ, and revenues derived from royalty payments for its ongoing technology contribution to EverQ. These EverQ-related revenues are expected to total approximately $10 million to $15 million in 2007. For 2007, Evergreen Solar expects revenue from EverQ-1 to be in a range of $100 to $125 million (assuming current exchange rates) as it completes the transition to the thin ribbon platform by the first quarter of 2007 and plans to add approximately 5 MW of incremental capacity at that plant by the second quarter of 2007. The Company anticipates that EverQ-2 will commence volume shipments during the second quarter of 2007, and should reach full manufacturing capacity by the fourth quarter of 2007. EverQ-2 is expected to generate revenue in the range of $60 to $75 million (assuming current exchange rates) in 2007. Although it will not be reflected in Evergreen Solar's reported revenue in the future, the Company believes that separately reporting the combined revenues of EverQ, which in 2007 is expected to be a one-third owned unconsolidated subsidiary of Evergreen Solar, with Evergreen Solar's own revenue is useful to investors as it shows the true market penetration of Evergreen Solar's String Ribbon technology. Combined EverQ and Evergreen Solar world-wide product revenue in 2007, which incorporates Evergreen Solar's proprietary String Ribbon technology, are expected be in the range of approximately $200 to $250 million.
For more www.evergreensolar.com.
Update for ESLR
I like this chat go up let see what happen
I`m in stock at 8.80 stop 8.30 I buy the stock on friday let see.
Divergence MACD (lolng divergence)
Year-to-Date
Quarter Ended Period Ended
October September October September
1, 30, 1, 30,
2005 2006 2005 2006
-------- --------- -------- ---------
Revenues:
Product revenues $11,092 $36,231 $32,059 $69,846
Research revenues 94 215 328 894
-------- --------- -------- ---------
Total revenues 11,186 36,446 32,387 70,740
-------- --------- -------- ---------
Cost of revenue:
Product revenue costs 9,934 30,525 29,887 64,654
Research revenue costs 94 215 328 895
-------- --------- -------- ---------
Total cost of revenue 10,028 30,740 30,215 65,549
-------- --------- -------- ---------
Gross margin 1,158 5,706 2,172 5,191
Operating expenses (1):
Research and development
expenses 2,971 4,662 7,709 12,813
Selling, general and
administrative expenses 3,115 5,121 8,067 15,917
-------- --------- -------- ---------
Total operating expenses 6,086 9,783 15,776 28,730
-------- --------- -------- ---------
Operating loss (4,928) (4,077) (13,604) (23,539)
Other income (loss) 55 (698) 696 753
-------- --------- -------- ---------
Net loss before minority
interest (4,873) (4,775) (12,908) (22,786)
Minority interest in EverQ loss
(income) 310 (828) 633 1,584
-------- --------- -------- ---------
Net loss attributable to common
stockholders (4,563) (5,603) (12,275) (21,202)
======== ========= ======== =========
Net loss per share attributable
to common stockholders (basic
and diluted) $(0.07) $(0.08) $(0.21) $(0.33)
Weighted average shares used in
computing basic and diluted net
loss per share attributable to
common stockholders 61,178 66,127 59,049 65,229
Year-to-Date
Quarter Ended Period Ended
October September October September
1, 30, 1, 30,
(1) Includes the following
amounts related to equity
awards (in thousands): 2005 2006 2005 2006
-------- --------- -------- ---------
Cost of product revenues $- $117 $- $355
Research and development
expenses - 330 - 1,115
Selling, general and
administrative expenses - 608 - 2,598
Evergreen Solar, Inc. (Nasdaq: ESLR - News)
Condensed Consolidated Balance Sheets
(in thousands, except share data)
(unaudited)
December 31, September 30,
2005 2006
------------ -------------
Assets
Current assets:
Cash and cash equivalents $30,742 $34,254
Marketable securities 85,465 55,643
Accounts receivable, net of allowances for
doubtful accounts and sales discounts of
$65 and $150 at December 31, 2005 and
September 30, 2006, respectively 4,124 22,826
Grants receivable 16,295 18,107
Inventory 3,634 12,420
Interest receivable 541 700
Other current assets 4,052 18,738
------------ -------------
Total current assets 144,853 162,688
Deposits on fixed assets under construction 8,217 1,596
Restricted cash 1,582 795
Long-term investments - 986
Deferred financing costs 2,877 2,545
Fixed assets, net 71,430 142,521
------------ -------------
Total assets $228,959 $311,131
============ =============
Liabilities, minority interest and
stockholders' equity
Current liabilities:
Accounts payable $12,210 $11,832
Short-term borrowings 4,131 38,676
Other accrued expenses 1,625 28,780
Accrued employee compensation 1,778 2,523
Accrued warranty 705 1,123
------------ -------------
Total current liabilities 20,449 82,934
Subordinated convertible notes 90,000 90,000
Deferred grants 16,284 24,316
Other long-term debt 3,553 16,152
------------ -------------
Total liabilities 130,286 213,402
Minority interest in EverQ 11,223 10,354
Stockholders' equity:
Common stock, $0.01 par value, 100,000,000
shares authorized, 61,965,231 and
67,928,659 issued and outstanding at
December 31, 2005 and September 30, 2006,
respectively 620 680
Additional paid-in capital 182,345 201,113
Accumulated deficit (93,009) (114,211)
Deferred compensation (1,036) -
Accumulated other comprehensive loss (1,470) (207)
------------ -------------
Total stockholders' equity 87,450 87,375
------------ -------------
Total liabilities, minority interest and
stockholders' equity $228,959 $311,131
============ =============
About Evergreen Solar, Inc.
Evergreen Solar, Inc. develops, manufactures and markets solar power products using proprietary, low-cost manufacturing technologies. The Company's patented crystalline silicon technology, known as String Ribbon, uses significantly less silicon than conventional approaches. Evergreen Solar's products provide reliable and environmentally clean electric power for residential and commercial applications globally. For more information about the
During the third quarter of 2006:
• Product revenues increased 227 percent to $36.2 million from $11.1 million in the third quarter of 2005, with sales of product manufactured at the first EverQ factory - EverQ-1 - in Germany contributing approximately $25.4 million of the total revenue and over 22 percent gross margin, including 31 percent gross margin for the month of September.
• EverQ-1 ramped to full production capacity in the third quarter. As a result, EverQ achieved profitability for the third quarter of approximately $2.3 million.
• EverQ's second factory - EverQ-2 - broke ground in the quarter and is on track to begin production in the second quarter of 2007, and should reach full capacity by the end of 2007.
"Evergreen Solar continued to execute on all major initiatives in the third quarter," said Richard M. Feldt, President and Chief Executive Officer. "We completed the ramp to full production at the first EverQ factory one quarter ahead of schedule - progressing from groundbreaking to full capacity and profitability in 15 months. We finalized the long-term polysilicon supply, license and technology transfer agreements related to EverQ's partnership, subject to the receipt of regulatory approval. These agreements strengthen our ability to leverage the advantages of our String Ribbon platform. Reflecting the partners' confidence in our String Ribbon technology, we broke ground for the second EverQ factory well before executing the agreements for expanding EverQ." "In Marlboro, we made substantial progress on our Quad Ribbon furnace development to the point where we believe it is likely that the next EverQ expansion - EverQ-3 - will be designed around that new four-ribbon furnace. Additionally, we successfully introduced in Marlboro a new cell fabrication process that increases cell efficiency to just over 14.5 percent, which brings us very close to the industry median." "Third-quarter EverQ revenues exceeded our expectations as we quickly brought the full facility online," Feldt said. "In the fourth quarter, we will be converting the entire EverQ factory to thin wafer production. We believe the combination of this conversion with other manufacturing enhancements will enable us to improve our silicon productivity to less than six grams per watt by year end."
Third-Quarter 2006 Financial Results
Product revenues increased 227 percent to $36.2 million from $11.1 million in the third quarter of 2005, with sales of product manufactured at the first EverQ facility in Germany contributing approximately $25.4 million of the total revenue. Gross margin for the third quarter was 15.7 percent, compared with 10.4 percent for the third quarter a year ago and 4.1 percent for the second quarter of 2006. The increase in product gross margin was expected and primarily resulted from the incremental volume in EverQ production and sales. Net loss attributable to common stockholders for the third quarter of 2006 was $5.6 million, or $0.08 per share. This figure includes the write-off of manufacturing equipment obsoleted by the implementation of new technology at Marlboro amounting to approximately $550,000. This compares with a net loss of $4.6 million, or $0.07 per share, for the third quarter of 2005 and a net loss of $7.5 million, or $0.11 per share, for the second quarter of 2006. Evergreen Solar recorded equity-based compensation expenses of approximately $1.1 million during the third quarter of 2006.
Business Outlook
"Through the EverQ partnership, we have captured the initial promise of our String Ribbon technology and demonstrated that it is exportable, scalable and profitable - at 30MW," Feldt said. "As a result of our accomplishments to date, we have created a clear path to grow the EverQ business to roughly 10 times its current size, generating 300MW of solar production by 2010. Based on our technological capabilities and additional growth opportunities, we believe Evergreen Solar is strongly positioned to be in the forefront of helping the solar industry achieve economic parity with retail grid electricity."
2006 Guidance and EverQ Accounting Clarification
With the signing of the EverQ partnership agreements, and after receipt of German regulatory approval, Evergreen Solar, Q-Cells and REC will become equal partners in EverQ. As a result, all three partners will share equally in the net income generated by the partnership, and Evergreen Solar will adopt the equity method of accounting for its share of EverQ results. Evergreen Solar will continue to market and sell all modules manufactured by EverQ under the Evergreen Solar brand, as well as manage customer relationships and contracts. However, the Company will no longer report gross revenue or cost of goods sold resulting from the sale of EverQ's module production. Despite this change in accounting for product revenue, there will be no change in Evergreen Solar's economic value realized from the EverQ partnership - the Company will still report one-third of EverQ's profit. Evergreen Solar anticipates quarterly revenue from product manufactured at its Marlboro facility to continue in the $10 to $12 million range for the foreseeable future including the fourth quarter of 2006. The Company expects EverQ's fourth-quarter revenue to be in the $20 to $25 million range. Gross margin at Evergreen Solar's Marlboro facility will likely be in the range of 5 to 15 percent for the foreseeable future, as ongoing development of new technology initiatives in Marlboro will continue to consume capacity and limit gross margins. However, actual gross margins in Marlboro could vary widely from this range depending on the timing and extent of the deployment of new technology initiatives. For the fourth quarter of 2006, EverQ gross margin is expected to be sequentially flat compared with the third quarter of 2006, despite costs associated with the complete conversion to the thin ribbon platform, as well as other near-term technology enhancements.
2007 Guidance
In 2007, in addition to reporting revenue from its Marlboro facility, the Company plans to report additional line items for revenue derived from EverQ. Evergreen Solar will separately report the fees received from EverQ for the marketing and sale of EverQ modules by the Company. In addition, the Company will separately report revenues derived from payments by EverQ for the Company's R&D efforts on behalf of EverQ, and revenues derived from royalty payments for its ongoing technology contribution to EverQ. These EverQ-related revenues are expected to total approximately $10 million to $15 million in 2007. For 2007, Evergreen Solar expects revenue from EverQ-1 to be in a range of $100 to $125 million (assuming current exchange rates) as it completes the transition to the thin ribbon platform by the first quarter of 2007 and plans to add approximately 5 MW of incremental capacity at that plant by the second quarter of 2007. The Company anticipates that EverQ-2 will commence volume shipments during the second quarter of 2007, and should reach full manufacturing capacity by the fourth quarter of 2007. EverQ-2 is expected to generate revenue in the range of $60 to $75 million (assuming current exchange rates) in 2007. Although it will not be reflected in Evergreen Solar's reported revenue in the future, the Company believes that separately reporting the combined revenues of EverQ, which in 2007 is expected to be a one-third owned unconsolidated subsidiary of Evergreen Solar, with Evergreen Solar's own revenue is useful to investors as it shows the true market penetration of Evergreen Solar's String Ribbon technology. Combined EverQ and Evergreen Solar world-wide product revenue in 2007, which incorporates Evergreen Solar's proprietary String Ribbon technology, are expected be in the range of approximately $200 to $250 million.
For more www.evergreensolar.com.
