Wednesday, August 12, 2009

LDK Solar Posts Huge Q2 Loss On Writedowns; Stock Falls (LDK)

Original Post:
Here's the last of the trio from Tech Trader Daily:

LDK Solar (LDK) this afternoon posted Q2 results and third quarter guidance that fell short of Street expectations.

For the quarter, the company reported revenue of $228.3 million, down from $283.3 million in Q1 and $441.7 million a year ago, and below the Street consensus of $236.1 million.

LDK posted a net loss for the quarter of $216.9 million or $2.03 a share, reflecting an inventory writedown of $175.8 million and a loss of $16.7 million on firm puchase commitments of polysilicon materials. Gross margin in the quarter was -90%; operating margin was -102.9%.>>>MORE