North Coast Solar Stocks

July 23, 2009

LDK Solar Updates Outlook for the Second Quarter of 2009

Filed under: LDK — Tags: , , , — Jason @ 5:25 pm

Thursday July 23, 2009, 5:25 pm EDT

XINYU CITY, China and SUNNYVALE, Calif., July 23 /PRNewswire-FirstCall/ — LDK Solar Co., Ltd. (LDK), a leading manufacturer of multicrystalline solar wafers, today provided an updated outlook for its second quarter 2009 financial results. For the second quarter of 2009, LDK Solar expects to report between $225 million and $235 million in revenue, slightly above the recently announced estimated range, and wafer shipments between 230 and 240 megawatts (“MW”). LDK Solar expects to record a write-down of $150 to $160 million against the cost of inventories for a decline in net realizable value of inventories resulting from the continued market price decline for solar wafers. As a result, the gross margin is expected to be negative and LDK Solar expects to report a net loss of $180 to $200 million in the second quarter.

LDK Solar currently expects to report full second quarter 2009 results on August 12, 2009 after the market closes. The Company will host a corresponding conference call and live webcast at 5:00 p.m. ET on the same day. To listen to the live conference call, please dial 888-549-7704 (within U.S.) or 480-629-9857 (outside U.S.) at 4:50 p.m. ET on August 12, 2009. An audio replay of the call will be available to investors through August 14, 2009, by dialing 800-406-7325 (within U.S.) or 303-590-3030 (outside U.S.) and entering the passcode 4124368#.

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