China’s LDK Solar Q4 net loss narrows to $517m

18 April 2013 09:23  [Source: ICIS news]

SINGAPORE (ICIS)--LDK Solar’s fourth quarter net loss narrowed to $517.0m (€398m) from $588.7m in the same period last year despite a downturn in the solar industry, the photovoltaic products manufacturer said on Thursday.

Net sales for the fourth quarter fell by 68% year on year to $135.9m, the company said a statement.

"Our business continued to be affected by the significant challenges that remained pervasive throughout the solar industry," said Tong Xingxue, president and CEO of LDK Solar. 

"In 2013, we are focused on emerging solar markets in China, Africa, India and the US.  We believe these markets represent the strongest growth potential,” Tong added.

For the first quarter of fiscal year 2013, LDK Solar estimates its revenue at between $80m and $100m, wafer shipments at between 260MW and 270MW and cell and module shipments at between 30MW and 40MW.

($1 = €0.77)

By: Surinder Malhi
+65 6780 4327

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