Evergreen Solar, Inc. (ESLR) develops, manufactures, and markets solar power products primarily in Europe and the United States. Evergreen uses a proprietary technology, known as String Ribbon, which uses significantly less silicon than conventional processes.

Sales for the first quarter ended March 31, 2008 increased 8.3 % to $18.3 million from $16.9 million in 2007. Net loss was $25,000 for the first quarter of 2008 (which included $3.8 million in foreign exchange gains, $3 million in interest income and $5.3 million in expenses for facility start-up and equipment write offs) compared to net income of $788,000 for 2007. Evergreen Solar (ESLR) has as of March 31, 2008 $206.6 million in cash and marketable securities.

Evergreen Solar (ESLR) is currently trading at $8.44 or if we assume 2008 sales of $80 million, at 11 times sales. The stock is down 55% from a 52 week high of $18.85. Canadian Solar (CSIQ) on the other hand is trading at 1 times projected 2008 sales. Evergreen Solar is a solid company with ample cash reserves and financing but its current stock price trades at a lofty valuation.

http://www.evergreensolar.com/app/en/home/