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|LDK Solar Reports Financial Results for Second Quarter of Fiscal 2012|
All financial results are reported in U.S. dollars on a U.S. GAAP basis.
Second Quarter Highlights:
Net sales for the second quarter of fiscal 2012 were
Gross loss for the second quarter of fiscal 2012 was
Gross margin for the second quarter of fiscal 2012 was negative 39.1%, compared to negative 65.5% in the first quarter of fiscal 2012, and positive 2.20% in the second quarter of fiscal 2011.
During the preparation of its second quarter 2012 financial results,
Loss from operations for the second quarter of fiscal 2012 was
Operating margin for the second quarter of fiscal 2012 was negative 73.4% compared to negative 67.9% in the first quarter of fiscal 2012, and negative 9.6% in the second quarter of fiscal 2011.
Income tax benefit for the second quarter of fiscal 2012 was
Net loss available to
During the second quarter of 2012,
"For the second quarter of 2012, our revenue was within the expected range as we saw wafer shipments increase sequentially," stated
"Turning to the third quarter, our outlook remains cautious as we expect to see continued near-term challenges facing our industry. We remain closely focused on managing costs and operating expenses through streamlining manufacturing operations, reducing production costs and improving utilization.
"We continue to believe 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 third quarter of fiscal 2012,
For fiscal 2012,
Conference Call Details
The LDK Solar Second 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 Laukkanenof The Blueshirt Group for LDK Solar, +1-415-217-4967, firstname.lastname@example.org; or Jack Lai, Executive VP and CFO of LDK Solar Co., Ltd., +1-408-245-8801,IR@ldksolar.com