EmailLDK Solar (LDK $5.80 -0.77) lowered its second quarter revenue
guidance to $480 million to $500 million, down from $710 million to $760 million
versus the $716.40 million Capital IQ Consensus Estimate.
With wafer shipments between 1.8 gigawatts (GW) and 2.0 GW, and gross margins
between 15% and 20%. The co previously forecasted wafer shipments between 2.7
and 2.9 gigawatts (GW), module shipments between 800 MW and 900 MW, in-house
polysilicon production between 10,000 MT and 11,000 MT, in-house cell production
between 500 MW and 600 MW and gross margin between 24% and 29%.
For its fiscal year 2011, the company lowered its revenue guidance to $2.5
billion to $2.7 billion from $3.5 billion to $3.7 billion versus the $3 billion
Capital IQ Consensus Estimate.
The company is expecting wafer shipments between 410 and 430 megawatts (MW). As
a result of the significant drop in market price for wafers and modules during
the second quarter of 2011, LDK Solar expected to write-down $55 million to $60
million of inventories and expected the gross margin for the second quarter of
2011 to be between 1.5% and 2.5%.The company previously forecasted Q2 wafer
shipments between 500 MW and 550 MW, and gross margin between 22% to 26%.
than one year.
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