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|LDK Solar Reports Financial Results for Fourth Quarter of Fiscal 2011|
All financial results are reported in U.S. dollars on a U.S. GAAP basis.
Fourth Quarter Highlights:
Net sales for the fourth quarter of fiscal 2011 were
Gross loss for the fourth quarter of fiscal 2011 was
Gross margin for the fourth quarter of fiscal 2011 was negative 65.5%, compared to negative 3.6% in the third quarter of fiscal 2011, and positive 27.3% in the fourth quarter of fiscal 2010.
During the preparation of its fourth quarter 2011 financial results,
Loss from operations for the fourth quarter of fiscal 2011 was
Operating margin for the fourth quarter of fiscal 2011 was negative 126.5% compared to negative 16.3% in the third quarter of fiscal 2011, and positive 22.1% in the fourth quarter of fiscal 2010.
Income tax benefit for the fourth quarter of fiscal 2011 was
Net loss attributable to
"The solar industry experienced a tremendous supply and demand imbalance throughout the value chain during the fourth quarter. Our results reflected the negative effects of this dislocation in the PV market," stated
"In 2012, we expect that excess capacity and further policy uncertainties in
The following statements are based upon management's current expectations. These statements are forward-looking in nature, and the actual results may differ materially. You should read the "Safe Harbor Statement" below with respect to the risks and uncertainties relating to these forward-looking statements.
For the first quarter of fiscal 2012,
For fiscal 2012,
Conference Call Details
The LDK Solar Fourth Quarter 2011 teleconference and webcast is scheduled to begin at
A live webcast of the call will be available on the company's investor relations website at http://investor.ldksolar.com/.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements, including but not limited to,