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26 Jun '12, 5pm

LDK Posts Steep Loss Amid Mounting Industry Pressure: China's LDK Solar, a producer of polysilicon, wafers, cel...

LDK Posts Steep Loss Amid Mounting Industry Pressure: China's LDK Solar, a producer of polysilicon, wafers, cel...

In a weaker-than-expected fiscal first quarter statement posted Tuesday, LDK reported a net loss of $185.2 million, or a loss of $1.46 per diluted American depository share (ADS). During the same period a year ago, the company posted a net income of $135.4 million, or a $0.95 gain per diluted ADS. Net sales for the first quarter were $200.1 million, far below the $766.3 million generated during the same period last year. In the first quarter of 2012, LDK shipped more than 164 megawatts (MW) of wafers and nearly 154 MW of cells and modules. The company also produced more than 1,900 metric tons (MT) of polysilicon and more than 51 MW of cells during the period. The company also lowered its outlook for both the current quarter and fiscal 2012. According to its statement, LDK estimates its second quarter to shape up like this: Revenue between $220 million and $270 million; waf...

Full article: http://www.renewableenergyworld.com/rea/news/article/2012...

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