earnings

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Worldwide String Ribbon Quarterly Sales Exceed $100 million

MARLBORO, Mass.--(BUSINESS WIRE)--January 30, 2008--Evergreen Solar, Inc. (Nasdaq: ESLR), a manufacturer of solar power products using its proprietary, low-cost String Ribbonâ„¢ wafer technology, today announced financial results for the fourth quarter and full year ended December 31, 2007.

For the fourth quarter of 2007, Evergreen Solar had revenue of $22.2 million, including $5.3 million of fees from its EverQ joint venture, and net income of $788,000, or $0.01 per share, compared with revenue of $18.2 million, including $2.8 million of joint venture fees, and a net loss of $3.7 million, or ($0.04) per share for the third quarter of 2007.

“The past year was marked by significant accomplishments for Evergreen Solar,” said Richard M. Feldt, Chairman, CEO and President. “We began our first major factory expansion in Massachusetts and signed five polysilicon supply agreements, including two agreements with DC Chemical Co., Ltd., the second of which was finalized this morning, providing us with 100% of silicon required to both accelerate and increase our annual production to approximately 125 MW in 2009, 300 MW in 2010, 600 MW in 2011 and 850 MW in 2012.”

2007 Full Year Highlights

• Raised approximately $170 million in equity and began the construction on our Devens factory. Phase 1 will be completed by mid 2008 and Phase 2 in early 2009, with a combined annual capacity of approximately 160 MW by early 2010.
• Secured long-term polysilicon supply agreements with DC Chemical, Nitol, Wacker and Silpro, providing 100% of our silicon requirements through 2012 and approximately 12,500 metric tons of silicon through 2019.
• Completed development of the Quad ribbon wafer furnace with automated ribbon cutting which will be used in all future string ribbon facilities beginning with the Company’s Devens location and EverQ’s third factory.
• Opened the second EverQ factory, a 60 MW facility, began the construction of the third EverQ factory, an 80 MW facility, with an expected completion date in early 2009 and announced the expansion of EverQ to 600 MW over the next 5 years.

“Our EverQ joint venture continues to show the impressive financial performance that we anticipated when we formed the JV in 2005, achieving sales of EUR 60 million and operating income of approximately 17% in the fourth quarter. EverQ’s strong fourth quarter financial results clearly demonstrate the compelling economics of our String Ribbon technology and provided the catalyst for Evergreen to achieve profitability for the quarter. During 2008, we will continue our significant capacity expansion and will incur substantial factory start up costs, impacting profitability in 2008. As we have continuously stated, we expect that Evergreen will achieve profitability when Phase 1 of our Devens factory approaches full capacity, which is expected in early 2009”, continued Mr. Feldt.

Fourth Quarter 2007 Financial Results

Revenues for the fourth quarter of 2007 were $22.2 million, including $5.3 million of fees from EverQ compared to $18.2 million for the third quarter of 2007, which included $2.8 million of fees.

Worldwide sales of product using our String Ribbon technology, which includes revenues of our Marlboro facility and EverQ, were $104.1 million for the fourth quarter of 2007 compared to $62.9 million in the third quarter and $37.2 million for the same period in 2006. Evergreen Solar reports worldwide sales of product manufactured with its String Ribbon technology as the Company believes it is useful to investors since it provides an indication of the full market penetration and growth of its technology.

Gross margin for the fourth quarter was 28.1% compared to 24.9% for the third quarter of 2007.

Net income for the fourth quarter was $788,000, or $0.01 per share, and includes $3.4 million in equity income from EverQ, representing Evergreen Solar's one-third share of EverQ's net income for the quarter. Net loss for the third quarter of 2007 was $3.7 million, or ($0.04) per share, and included $404,000 of equity income.

2007 Full Year Financial Results

Revenues for 2007 were $69.9 million, compared to $102.3 million for 2006 which included $57.3 million in consolidated EverQ revenue. Until December 19, 2006, the date when EverQ’s three partners each became one-third owners, Evergreen Solar consolidated the financial results of EverQ. Since the ownership change, Evergreen Solar has accounted for its investment in EverQ under the equity method.

Worldwide sales of product manufactured with Evergreen Solar's String Ribbon technology, which includes revenues of EverQ, were approximately $252.0 million for 2007 compared to $107.1 million for 2006.

Gross margin for 2007 was 24.4% compared to 11.7% for 2006.

Net loss for 2007 was $16.6 million, or ($0.19) per share, compared to $26.7 million, or ($0.41) per share for 2006.

Guidance for First Quarter 2008

Revenues for the first quarter of 2008 are expected to be approximately $21.5 million to $22.0 million, including approximately $5.0 million of selling fees and royalty payments from EverQ, compared to the $22.2 million reported in the fourth quarter of 2007, which included $5.3 million of fees from EverQ.

Gross margin is expected to be in the range of 24.0% to 28.0%. Operating expenses are expected to be in the range of $10.5 million to $11.5 million excluding factory startup costs which are expected to be in the range of $5.0 million to $5.5 million. Operating loss is expected to be in the range of $10.0 million to $11.0 million and net loss is expected to be in the range of $7.0 million to $8.0 million.

Conference Call Information

Management will conduct a conference call at 5:00 p.m. (ET) today to review the Company's fourth quarter and year end financial results and highlights. The conference call will be webcast live over the Internet. The webcast can be accessed by logging on to the "Investors" section of Evergreen Solar's website, www.evergreensolar.com, prior to the event. The call can also be accessed by dialing (888) 259-8389 or (913) 312-9322 (for International participants) prior to the start of the call.

For those unable to join the live conference call, a replay will be available from 8:00 p.m. (ET) on January 30 through midnight (ET) on February 6. To access the replay, dial (888) 203-1112 or (719) 457-0820 and refer to confirmation code 8407582. The webcast also will be archived on the Company's website. Continue reading "Press Release: Evergreen Solar Announces Fourth Quarter 2007 Profitable Results"

TOKYO--(BUSINESS WIRE)--January 15, 2008--NPC Incorporated (TOKYO:6255) News:
Company Name = NPC Incorporated
Company Code = (TOKYO:6255)
Market = Tokyo Stock Exchange
Section = Mothers
Industry = Machinery
Fiscal year end = August 31
Announce date = January 11, 2008
Category = First Quarter
Announce Term = September 1, 2007 - November 30, 2007
Consolidated/Non-consolidated = Consolidated

Company Profile

NPC Group's vacuum technologies have been employed in various fields, ranging from vacuum food packaging to photovoltaic module manufacturing.

We are engaged in two operations. They are the vacuum packaging machine business, which corresponds to demands related to food and industrial or electronic components; the photovoltaic manufacturing equipment business related to the downstream-process (module process). Both of these are supported by vacuum technologies, our core technologies that we have been accumulating since our foundation. The vacuum technologies are technologies with new possibilities and wide spheres of application.

[Photovoltaic manufacturing equipment business]

Tabber and Stringer (soldering machine): This equipment wires each cell in a continuous fashion during the manufacturing process of photovoltaic modules, which are a package of cells aligned on hardened glass. It usually solders two tabs (ribbons), on a single cell.

Vacuum Laminator: This equipment laminates photovoltaic modules. After heating the layers of package of cells aligned on the hardened glass, protection films, and others, it completes the modules by pressing them evenly under controlled vacuum.

Cell Tester: This equipment is used in the initial stages of photovoltaic module manufacturing. It measures a cell's output by applying simulated sunlight to each solar cell, and classifies cells based on its output.

Module Tester: This equipment is used in the final inspection process of photovoltaic module manufacturing. It measures output by applying simulated sunlight to finished photovoltaic modules.

[Vacuum packaging machine business]

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Consolidated Earnings Highlights

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For further detail please see http://www.npcgroup.net/en/ir/highlights.html

We do not guarantee the accuracy of the data shown above. Also we cannot be held responsible for any damages arising from/associated with this data.