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|LDK Solar Reports Financial Results for First Quarter of Fiscal 2012|
All financial results are reported in U.S. dollars on a U.S. GAAP basis.
First Quarter Highlights:
Net sales for the first quarter of fiscal 2012 were
Gross loss for the first quarter of fiscal 2012 was
Gross margin for the first quarter of fiscal 2012 was negative 65.5%, compared to negative 65.5% in the fourth quarter of fiscal 2011, and positive 31.5% in the first quarter of fiscal 2011.
During the preparation of its first quarter 2012 financial results,
Loss from operations for the first quarter of fiscal 2012 was
Operating margin for the first quarter of fiscal 2012 was negative 67.9% compared to negative 126.5% in the fourth quarter of fiscal 2011, and positive 25.6% in the first quarter of fiscal 2011.
Income tax benefit for the first quarter of fiscal 2012 was
Net loss available to
"Our revenue was within the expected range as our results reflected first quarter seasonality and the continued difficult solar industry conditions," stated
"We are navigating the current volatile market environment by focusing on streamlining manufacturing operations, reducing production costs and improving utilization, while closely managing our operating expenses. While we expect to see continued challenging conditions in the solar industry in the near-term, we anticipate that some markets such as
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 second quarter of fiscal 2012,
For fiscal 2012,
Conference Call Details
The LDK Solar First Quarter 2012 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,
Lisa Laukkanen, The Blueshirt Group for LDK Solar, +1-415-217-4967, firstname.lastname@example.org, Jack Lai, Executive VP and CFO, LDK Solar Co., Ltd., +1-408-245-8801, IR@ldksolar.com