LDK Solar Q3 Loss Shrinks - Quick Facts

(RTTNews) - LDK Solar Co. Ltd. (LDK), a vertically integrated manufacturer of photovoltaic products, posted a narrower third-quarter net loss available to shareholders of $127.0 million, or $0.65 per ADS, versus a $136.9 million, or $1.08 per ADS loss last year. On average, 2 analysts polled by Thomson Reuters expected loss per share of $0.82 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales for the recent quarter were $156.6 million, down compared with $291.5 million a year before.

The company said its third-quarter fiscal 2013 results were in line with expectations. Commenting on its performance, LDK Solar said in a statement, "We were pleased to deliver 37% sequential revenue growth and reduce our net loss available to LDK Solar's shareholders both sequentially and on a year-over-year basis. We saw some signs of further improvement in the PV market during the quarter. While European PV markets remained soft, we experienced increased demand from China, North America and other emerging solar markets."

Looking ahead to the fourth quarter of fiscal 2013, LDK Solar projects revenue to be in the range of $200 million - $250 million, wafer shipments between 480 MW and 520 MW and cell and module shipments between 120 MW and 160 MW.