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LDK Solar shares drop by 4% following miss on EPS and dim earnings outlook
LDK Solar (LDK $1.19 -0.05) reported second quarter GAAP net loss of $2.00 per share vs the ($1.43) Capital IQ consensus; revenues approximately 53% YoY to $235.4 million versus $237.5 million Capital IQ estimate. Additionally, company Shipped 316.7 megawatts of wafers, 135.6 MW of cells and modules in the second quarter; Produced a total of ~538.1 metric tons of polysilicon during the second quarter; and Produced a total of approximately 90.8 MW of cells during the second quarter. For Q3, LDK Solar estimates its revenue to be in the range of $220-260 mln vs $460.0 million est, wafer shipments between 190-240 MW, cells and module shipments between 140-180 MW. For FY12, LDK Solar estimates its revenue to be in the range of $1.1-1.5 billion versus the $1.69 billion est, polysilicon shipments between 1,100-1,400 MT, wafer shipments between 0.9 gigawatts and 1.2 GW, cell and module shipments between 550-750 MW and inverter shipments between 170-210 MW. Co expects PV system project construction to be in the range of 200-300 MW and to recognize between 110-150 MW through project sales and EPC services for 3rd party customers.
LDK Solar (LDK $1.19 -0.05) reported second quarter GAAP net loss of $2.00 per share vs the ($1.43) Capital IQ consensus; revenues approximately 53%