China’s LDK Solar Q3 net loss widens to $136m on weak demand

03 December 2012 09:25  [Source: ICIS news]

SINGAPORE (ICIS)--China-based LDK Solar’s third quarter net loss widened to $136.9m (€105.4m) from $114.5m in the same period last year amid weak demand, the photovoltaic products manufacturer said in a statement on Monday.

The Chinese company’s third quarter net sales dropped by 38% year on year to $291.5m, the company said.

"While we saw improvement to our top and bottom lines in the third quarter, our results continue to reflect the industry-wide pricing pressure and demand weakness that is negatively impacting the entire solar supply chain,” said Xingxue Tong, the President and CEO of LDK Solar.

LDK Solar estimates its revenue for the fourth quarter to range from $230m to $290m, the statement added.

($1 = €0.77)


By: Surinder Malhi
+65 6780 4327



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