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LDK Solar delays 4th-quarter reporting date

published: 2012-04-11 15:19

China's LDK Solar Co Ltd said it will delay reporting fourth-quarter results to April 30 citing the need for additional time to complete its preliminary review and compilation of financial information.

LDK's management, which has been under criticism lately, said it needed more time to finalize certain details which include an impairment analysis of long-lived assets and an assessment of inventory write-downs and provisions for certain receivables.

Last month, LDK -- which makes polysilicon, wafers, cells, modules and builds solar power plants -- cut its fourth-quarter revenue forecast as market prices for wafers and modules continued to remain depressed.

Shares of LDK, which was originally scheduled to report fourth-quarter results on April 12, closed at $3.23 on Tuesday on the New York Stock Exchange.

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