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|LDK Solar Reports Financial Results for Fourth Quarter of Fiscal 2012|
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 2012 were
Gross loss for the fourth quarter of fiscal 2012 was
Gross margin for the fourth quarter of fiscal 2012 was negative 60.5%, compared to negative 11.2% in the third quarter of fiscal 2012, and negative 65.5% in the fourth quarter of fiscal 2011.
During the preparation of its fourth quarter 2012 financial results,
Loss from operations for the fourth quarter of fiscal 2012 was
During the fourth quarter of 2012,
Operating margin for the fourth quarter of fiscal 2012 was negative 300.8% compared to negative 26.0% in the third quarter of fiscal 2012, and negative 126.5% in the fourth quarter of fiscal 2011.
Income tax expense for the fourth quarter of fiscal 2012 was
Net loss available to
"Our business continued to be affected by the significant challenges that remained pervasive throughout the solar industry," stated Xingxue Tong, President and CEO of LDK Solar. "Our fourth quarter results reflect the industry-wide overcapacity and resulting pressure to ASP's and margins. Amidst these challenging market conditions, we are dedicated to working closely with our stakeholders and the relevant governmental agencies to adapt our strategy to position
"In 2013, we are focused on emerging solar markets 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 2013,
Conference Call Details
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, firstname.lastname@example.org, +1-415-217-4967, or Jack Lai, Executive VP and CFO, LDK Solar Co., Ltd., IR@ldksolar.com, +1- 408-245-8801