China's LDK Solar Co Ltd (LDK.N: Quote) on Monday reported a quarterly net profit that topped forecasts, and raised its revenue outlook for the year, as six new supply agreements led to stronger-than-expected shipments of the company's solar wafers.
LDK shares, however, slid 8 percent in extended trade following the announcement.
LDK said first-quarter net income was $49.8 million, or 45 cents per American Depositary Share. It did not provide comparable figures for the previous year.
The company in April had forecast earnings for the quarter of 40 cents to 44 cents per ADS....MORE