LDK Solar Co., Ltd. ("LDK Solar") (NYSE: LDK), a manufacturer of multicrystalline solar wafers and PV products, provided an updated outlook for the first quarter 2011 and reiterated its guidance for the full year 2011.
For the first quarter of 2011, LDK Solar expects to report revenue in the range of $745 to $755 million, wafer shipments of 625 to 635 megawatts (MW), module shipments of 109 MW to 114 MW, in-house polysilicon production of 2,450 MT to 2,470 MT, in-house cell production between 44 MW and 46 MW, and gross margin between 30.0% and 31.0%. The Company’s prior guidance for the first quarter was revenue of $800 to $850 million, wafer shipments of 610 MW to 660 MW, and module shipments of 120 to 140 MW, in-house polysilicon production between 2,300 MT and 2,400 MT, in-house cell production between 45 MW and 50 MW, and gross margin between 27.0% and 29.0%.
LDK Solar reiterates its 2011 guidance of revenue in the range of $3.5 to $3.7 billion, gross margins between 24% and 29%, wafer shipments to be between 2.7 and 2.9 GW, module shipments to be between 800 and 900 MW, polysilicon production to be between 10,000 and 11,000 MT, and in-house cell production to be between 500 and 600 MW.
The outlook for the three months ended March 31, 2011 and full year ended December 31, 2011 are estimates. Results are subject to change based on further review by management. Once the first quarter 2011 reporting date is finalized, LDK Solar will issue a press release announcing the date and details of its first quarter 2011 conference call.