LDK Solar ups outlook as wafer shipments surge
LDK Solar said Monday that its fourth quarter and 2011 outlook are stronger than expected as photovoltaic (PV) products surged.
LDK said it is expecting fourth quarter revenue to be $870 million to $910 million. The company had projected fourth quarter revenue of $710 million to $750 million. Wall Street expected fourth quarter revenue of $741.8 million.
According to LDK, shipments are up across the board. LDK said it expects fourth quarter 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. All of those targets are well ahead of LDK's previous guidance.
For fiscal 2011, LDK Solar is expecting revenue of $3.5 billion to $3.7 billion. Wall Street was expecting revenue of $2.74 billion. Other targets for LDK's fiscal 2011 include:
- Wafer shipments of 2.7 to 2.9 gigawatts (GW);
- Module shipments of 800 MW to 900 MW;
- Gross margin between 23 percent to 28 percent.
Business for LDK has been strong. The company also raised its third quarter outlook.
This post was originally published on Smartplanet.com