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|LDK Solar Reports Financial Results for the Third Quarter of Fiscal 2013|
All financial results are reported in U.S. dollars on a U.S. GAAP basis.
Third Quarter Highlights:
Net sales for the third quarter of fiscal 2013 were
Gross loss for the third quarter of fiscal 2013 was
Gross margin for the third quarter of fiscal 2013 was negative 24.0%, compared to negative 46.9% in the second quarter of fiscal 2013, and negative 11.2% in the third quarter of fiscal 2012.
Loss from operations for the third quarter of fiscal 2013 was
Operating margin for the third quarter of fiscal 2013 was negative 49.5% compared to negative 82.9% in the second quarter of fiscal 2013, and negative 26.0% in the third quarter of fiscal 2012.
Income tax benefit for the third quarter of fiscal 2013 was
Net loss available to
"Our third quarter results were in line with expectations," stated
"As announced, we recently signed a new onshore loan facility framework agreement with a syndicate of 11 commercial banks in
"During the quarter, we continued to pursue a number of initiatives focused on restructuring our business operations and on our liability management. While the onshore syndicate facility will alleviate some of our onshore operating cash flow pressure 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 fourth quarter of fiscal 2013,
Conference Call Details
The LDK Solar Third Quarter 2013 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, 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