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Date Announced: 10 Jan 2011
Sharp increase in revenue and production forecast from vertically integrated Chinese PV company.
XINYU CITY, China and SUNNYVALE, Calif., Jan. 10, 2011 /PRNewswire/ -- LDK Solar Co., Ltd. ("LDK Solar") (NYSE:LDK - News), a leading vertically integrated manufacturer of photovoltaic (PV) products and the world's largest producer of multicrystalline solar wafers, today provided an updated outlook for its fourth quarter 2010 and fiscal year 2011.
For the fourth quarter of 2010, LDK Solar expects to report revenue in the range of $870 to $910 million, wafer shipments of 615 to 620 megawatts (MW), module shipments of 160 MW to 165 MW, in-house polysilicon production of 1,900 MT and 1,910 MT, in-house cell production between 26 MW and 27 MW, and gross margin between 25.0% and 27.0%. The Company's prior guidance for the fourth quarter was revenue of $710 to $750 million, wafer shipments of 580 MW to 600 MW, and module shipments of 120 to 130 MW, in-house polysilicon production between 1,700 MT and 1,900 MT, in-house cell production between 20 MW and 23 MW, and gross margin between 24.0% and 26.0%.
For fiscal year 2011, LDK Solar expects revenue in the range of $3.5 to $3.7 billion, wafer shipments of 2.7 to 2.9 gigawatts (GW), module shipments of 800 MW to 900 MW, in-house polysilicon production of 10,000 MT and 11,000 MT, in-house cell production between 500 MW and 600 MW, and gross margin between 23.0% and 28.0%. The Company's prior guidance for fiscal year 2011 was revenue of $2.9 to $3.3 billion, wafer shipments of 2.5 GW to 2.8 GW, and module shipments of 700 MW to 800 MW, in-house polysilicon production between 9,000 MT and 10,000 MT, in-house cell production between 400 MW and 500 MW, and gross margin between 22.0% and 28.0%.
As of December 31, 2010, cash balances, including pledged bank deposits, were approximately $700 million.
The outlook for the fourth quarter 2010 and fiscal year 2011 are estimates. Results are subject to change based on further review by management. Once the fourth quarter and fiscal year 2010 reporting date is finalized, LDK Solar will issue a press release announcing the date and details of its fourth quarter and fiscal year 2010 conference call.
Source: LDK Solar
E-mail: IR@ldksolar.com
Web Site: www.ldksolar.com
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