LDK Solar Posts Loss, Issues Sales Outlook

LDK Solar reported a loss in fourth quarter but provided revenue guidance roughly in line with Wall Street estimates.

By Andrea Tse , Mar 30, 2010 7:38 AM EDT

NEW YORK (

) --

LDK Solar

(LDK)

reported a fourth-quarter loss but issued revenue guidance roughly in line with Wall Street estimates.

For the first quarter, LDK Solar estimates revenue in the range of $310 million to $330 million, with wafer shipments of 370 MW to 400 MW and module shipments of 25 MW to 30 MW. The Wall Street consensus estimate for LDK's first-quarter revenue is $321 million.

LDK Solar reported a fourth-quarter net loss of $7.3 million, or 7 cents an American depositary share), compared with net income of $29.4 million, or 27 cents per ADS for the third quarter. Net sales for the fourth quarter were $304.6 million, compared with $281.9 million for the third quarter, and $426.6 million for the year-earlier fourth quarter.

Excluding a charge of $10 million for the settlement of a lawsuit, net income for the fourth quarter was $2.7 million, or 3 cents a share.

Analysts surveyed by Thomson Reuters expected fourth-quarter earnings of 12 cents a share on revenue of $301.91 million.

-- Reported by Andrea Tse in New York

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