PR – LDK Solar Co., Ltd. today provided an outlook for the first quarter of 2008. Due to the recent severe weather conditions in China over the past two weeks, LDK Solar has experienced some delays in shipments to customers and from suppliers as a result of highway closures and power outages associated with snow and ice storms.
LDK Solar expects this disruption in shipments to be minor and plans to return to a normal operating schedule by February 12, 2008. The severe weather will have no significant impact on the progress of the polysilicon plant construction and LDK Solar reiterates its target for 100 metric tons to 350 metric tons of polysilicon production in 2008.
Notwithstanding these weather related adverse disruptions in China, LDK Solar is providing first quarter 2008 guidance. For the first quarter of fiscal 2008, ending March 31, 2008, LDK Solar estimates revenue to be in the range of $195 to $210 million and wafer shipments of 93 to 98 MW. The company also estimates fully diluted earnings per ADS to be in the range of $0.39 to $0.44. LDK Solar is not revising its previously provided full year financial outlook for 2008 at this time.
On January 2, 2008, the company provided its 2008 Financial Outlook: — Revenue: Between $960 million and $1 billion. — Wafer shipments: Between 510 MW to 530 MW — Silicon production: 100 to 350 metric tons — Gross margin: Between 26% to 31% The preceding statements are based upon management’s current and preliminary estimates. These statements are forward-looking, and actual results may differ materially. The Company undertakes no obligation to update these statements. The estimates do not include the potential impact of any mergers, acquisitions, divestitures or other business combinations that may incur.