LDK Solar revises fourth quarter 2011

Xinyu City, China/ Sunnyvale, USA

The company will also report financial results for the fourth quarter 2011. Fourth quarter revenue was forecasted to be in the range of $440 to $520 M. LDK Solar now revised its guidance for revenue to be in the range of $440 to $450 M For fiscal 2012, the company estimates its revenue in the range of $2.0 to $2.7 B.

Due to rapidly declining market prices for wafers and modules during the fourth quarter of 2011, LDK Solar expects to incur a write-down of inventories and realize impairment charges on contractual purchase agreements. The gross margin is therefore expected to be negative.

Source: IWR Online, 19 Mar 2012