Energy Winners & Losers: Sunpower

The maker of solar-power products said it will incur charges of about $25 million, mostly in the fourth quarter of 2008, related to the write-off of manufacturing and development equipment and leasehold improvements of the Marlboro pilot facility.

In addition, the Marlboro, Mass.-based company said it expects to incur about $350,000 in severance costs over the next few months for Marlboro facility employees not transferred to its Devens factory.

Over the next year, Evergreen could also be charged $3 million to $5 million for location restoration, disposition and moving costs.

Jeff Osborne, an analyst with Thomas Weisel Partners, said "we see tough times ahead for Evergreen Solar," given the weakness in the solar sector and constrained capital markets.

< Previous

1 2

Next >