26 June 2012 10:11 [Source: ICIS news]
The company’s net revenue in the first quarter fell 74% year on year to $200m, and saw a first-quarter gross loss of $131m, it said in a statement.
“Industry-wide overcapacity continued and drove price declines across the entire solar supply chain, which significantly reduced our revenue and negatively impacted our margins,” said Xiaofeng Peng, Chairman and CEO of LDK Solar.
LDK Solar estimates its revenue to range from $220m to $270m for the second quarter of fiscal 2012, the statement added.
“While we expect to see continued challenging conditions in the solar industry in the near-term, we anticipate that some markets such as
($1 = €0.80)
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
Asian Chemical Connections