LDK Solar (LDK) announced in a press release that it expects a net loss of $180 to $200 million in the second quarter as a result of inventory write-downs.
LDK Solar Co. [[LDK]], a Chinese solar wafer manufacturer, updated its second quarter expectations in a press release today.
“For the second quarter of 2009, LDK Solar expects to report between $225 million and $235 million in revenue, slightly above the recently announced estimated range, and wafer shipments between 230 and 240 megawatts. LDK Solar expects to record a write-down of $150 to $160 million against the cost of inventories for a decline in net realizable value of inventories resulting from the continued market price decline for solar wafers. As a result, the gross margin is expected to be negative and LDK Solar expects to report a net loss of $180 to $200 million in the second quarter.”
LDK Solar announces its actual results on August 12.
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