Friday, May 13, 2011

Evergreen Solar (ESLR) Announces Q1 Results, Cancels Conference Call Scheduled for Today

Today's press release:

As previously disclosed, the Company’s near-term liquidity has been negatively impacted as a result of its low year-to-date sales volume and potentially slower sales for the remainder of this year combined with expected increased pricing pressure. Furthermore, cash to be realized through the reduction in accounts receivable and inventory from the recently closed Devens facility will be less than previously expected and will take longer than expected to realize. Accordingly, the Company believes it will need to secure additional sources of cash sooner than expected and has retained financial and legal advisors to actively evaluate restructuring alternatives. In light of ongoing discussions and negotiations with certain noteholders, the Company has cancelled the previously scheduled conference call that had been arranged for Friday, May 13, 2011 at 8:30a.m.

1 comment:

Taylor Conant said...

Always a good sign when you cancel your conference call at the last minute (no hypocrisy in me pointing this out, by the way).