LDK Whiffs Earnings, Shares Dive $LDK
LDK Solar (LDK) reported a non GAAP Q4 EPS of $0.03 which missed analyst estimates of $0.12as margins took a hit. Revenues were a bit above estimates at $304million. While that’s a big improvement over the year ago quarter whenthe company reported a whopping 2.05 loss, it wasn’t enough to keeptraders from dumping the stock today.
Here are some highlights of comments made by CEO Xiaofeng Peng..
- continues to see demand improving in the solar market
- LDKexpanded wafer capacity to 1.8GW by the end of the quarter
- offering new line of solar module products via acquisition of Best Solar
-continues to be excited about long term growth opportunities in solarmarket
Looking ahead, the company sees Q1 revenues of $310-$330 million, versus the consensus of $321 million. For Q1 the company sees wafershipments between 370 MW to 400 MW and module shipments between 25 MW to 30 MW.
Shares of LDK have moved back below support of the 50 day movingaverage today, but well off the lows. There is strong support in the $6 range which it might need to retest.
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