Evergreen Solar


reported a loss in the fourth quarter -- the fourth in a row for the solar-equipment maker.

Evergreen Solar lost $52.1 million, or 32 cents per share. It earned $788,000, or 1 cent per share, during the same period last year. Analysts were expecting a 14- cent loss, according to Thomson Reuters.

The effects of falling prices for solar panels combined with a costly plant closure and improvements to another plant drove the loss.

Reveune was $44.2 million, up from $22.2 million a year ago. Analysts had predicted revenue of $46.6 million.

Richard M. Feldt, chairman and CEO, said in a statement "that the long-term market prospects for the solar industry are very promising, especially given the significant commitment to renewable energy by the Obama administration."

"However, like all companies in the industry, we expect that demand for solar products in the first half of 2009 may be materially impacted by both the typical seasonal weakness and the difficult economic and credit environment," he said.

The company's key product is a photovoltaic cell that utilizes its patented "String Ribbon" technology for building solar wafers with ribbons of crystalline silicon.

Shares of Evergreen Solar fell 5% to $2.11 a share in regular trading. Shares were up 11 cents in after-hours trading.

Evergreen Solar is the second major solar energy company to report its quarterly financial results this season. On Wednesday,

GT Solar


reported a 46% jump in revenue and quarterly earnings of 16 cents per share.