EmailLDK Solar (LDK $1.86 -0.16) reported first quarter earnings of ($1.46) versus the ($1.07) consensus; revenue -74% year over year to $200 million versus the $225.5 million. Shipped 164.4 megawatts (MW) of wafers, 153.9 MW of cells and modules in the first quarter; Produced a total of ~1,900.8 MT of polysilicon during the first quarter; and Produced a total of ~51.2 MW of cells during the first quarter. Co sees Q2 rev to be in the range of $220-270 mln vs. the $370 mln consensus, wafer shipments between 300 MW and 350 MW, cells and module shipments between 140 MW and 180 MW, in-house polysilicon production between 520 MT and 570 MT and in-house cell production between 80 MW and 100 MW. For fiscal 2012,
The comapny lowered fiscal year 2012 revenue guidance to $1.5-2.0 bln from $2.0-2.7 billion versus the $2.09 billion consensus, lowers polysilicon production to between 5,000 MT and 7,000 MT from $12-15K MT, of which shipments to 3rd party customers are expected to be between 2,000 MT and 3,000 MT, wafer production between 2.0 gigawatts (GW) and 2.5 GW, of which shipments to 3rd party customers are expected to be between 1.2 GW and 1.5 GW, in-house cell production between 0.7 GW and 1.0 GW, and module production between 0.9 GW and 1.2 GW, with cell and module shipments to 3rd party customers between 0.8 GW and 1.0 GW and inverter shipments between 200 MW to 250 MW. LDK Solar expects PV system project construction to be in the range of 400 MW to 600 MW and to recognize between 270 MW and 360 MW through project sales and EPC services for 3rd party customers.
