LDK Solar Co. Ltd. (NYSE: LDK) EPS Dips to $0.95
Tuesday, June 07, 2021 4:00 PM

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LDK Solar Co. Ltd. (NYSE: LDK), a leading manufacturer of multicrystalline solar wafers and PV products, reported that its Gross profit for the first quarter of fiscal 2011, was $241.6 million, compared to $251.4 million in the fourth quarter of fiscal 2010, and $54.5 million for the first quarter of fiscal 2010.

Other financial highlights are:

  • Net sales for the first quarter of fiscal 2011 were $766.3 million, compared to $920.9 million for the fourth quarter of fiscal 2010, and $347.6 million for the first quarter of fiscal 2010;
  • Gross margin for the first quarter of fiscal 2011 was 31.5 percent, compared to 27.3 percent in the fourth quarter of fiscal 2010 and 15.7 percent in the first quarter of fiscal 2010;
  • Income from operations for the first quarter of fiscal 2011 was $196.1 million, compared to income from operations of $203.8 million for the fourth quarter of 2010, and $33.0 million for the first quarter of fiscal 2010;
  • Operating margin for the first quarter of fiscal 2011 was 25.6 percent compared to 22.1 percent in the fourth quarter of fiscal 2010 and 9.5 percent in the first quarter of fiscal 2010;
  • Net income for the first quarter of fiscal 2011 was $135.4 million, or $0.95 per diluted ADS, compared to net income of $145.2 million, or $1.09 per diluted ADS for the fourth quarter of fiscal 2010 and $7.2 million, or $0.06per diluted ADS for the first quarter of fiscal 2010.

LDK Solar ended the first quarter of fiscal 2011 with $515.1 million in cash and cash equivalents and $637.9 million in short-term pledged bank deposits. For the second quarter of fiscal 2011, LDK Solar estimates its revenue to be in the range of $710 million to $760 million and gross margin between 22 percent and 26 percent.

Shares last traded at $7.10, up 6.45 percent.

 

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