LDK Solar (LDK) Shines in Q4; Gives Strong Forecast
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LDK Solar Co. (NYSE: LDK) posted much better-than-expected fourth-quarter results on Thursday, pushing shares higher in extended trade.
The solar wafer producer reported fourth-quarter earnings of $1.09 per share, 19 cents better than the analyst estimate of 90 cents per share.
Revenue for the company rose 36.3 percent sequentially and 202.3 percent year-over- year to $920.0 million, topping the market consensus of $870.55 million.
Wafer shipments for the period were 627.9-MW, while modules came in at 157.2-MW.
"Our record results for the fourth quarter capped a remarkable year and demonstrate the success of our vertical integration strategy and strong market position," stated Xiaofeng Peng, Chairman and CEO of LDK Solar. "We delivered a third consecutive quarter of record revenue as strong industry demand drove better than expected results."
Looking forward, LDK sees first-quarter revenue of $800-$850 million, compared to the consensus of $816.4 million. Sees first-quarter wafer shipments of 610-660MW.
For the full year 2011, the company sees revenue of $3.5-$3.7 billion, topping the Street's forecast of $3.06 billion. Sees full year shipments of 2.7-2.9GW.
Shares of LDK are up 1.44 percent to $12.68 in aftermarket movement on Thursday.
The solar wafer producer reported fourth-quarter earnings of $1.09 per share, 19 cents better than the analyst estimate of 90 cents per share.
Revenue for the company rose 36.3 percent sequentially and 202.3 percent year-over- year to $920.0 million, topping the market consensus of $870.55 million.
Wafer shipments for the period were 627.9-MW, while modules came in at 157.2-MW.
"Our record results for the fourth quarter capped a remarkable year and demonstrate the success of our vertical integration strategy and strong market position," stated Xiaofeng Peng, Chairman and CEO of LDK Solar. "We delivered a third consecutive quarter of record revenue as strong industry demand drove better than expected results."
Looking forward, LDK sees first-quarter revenue of $800-$850 million, compared to the consensus of $816.4 million. Sees first-quarter wafer shipments of 610-660MW.
For the full year 2011, the company sees revenue of $3.5-$3.7 billion, topping the Street's forecast of $3.06 billion. Sees full year shipments of 2.7-2.9GW.
Shares of LDK are up 1.44 percent to $12.68 in aftermarket movement on Thursday.
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