LDK Solar (LDK) Shares Slump On EPS Miss

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09:43:13 am on March 30, 2010

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LDK Solar (LDK) reported a non GAAP Q4 EPS of $0.03 which missed analyst estimates of $0.12 as margins took a hit. Revenues were a bit above estimates at $304 million.  While that’s a big improvement over the year ago quarter when the company reported a whopping 2.05 loss, it wasn’t enough to keep traders 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
– LDK expanded 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 solar market

Looking ahead, the company sees Q1 revenues of $310-$330 million, versus the consensus of $321 million. For Q1 the company sees wafer shipments 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 moving average today, but well off the lows.  There is strong support in the $6 range which it might need to retest.

 

 

 

    
    
    
    
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