LDK Solar Sales Soar as Demand Rises

The Chinese maker of solar wafers said it expects fiscal-year revenue of $2.9 billion to $3.1 billion.

Author:: Joseph Woelfel
Publish date:: Nov 19, 2008 12:15 PM EST

Updated from 7:22 a.m. EST

LDK Solar

(LDK)

, a Chinese maker of solar wafers, said third-quarter revenue more than tripled as demand increased.

Revenue in the quarter rose to $541.8 million from $158.7 million a year earlier. Gross profit soared to $122.9 million from $48.9 million a year earlier.

Net income was $88.4 million, or 77 cents per American depositary share. Analysts estimated third-quarter earnings of 71 cents per ADS.

LDK, of Xinyu City, China, estimates fourth-quarter revenue of $555 million to $565 million with gross margin of between 18% to 21%.

For the full year of fiscal 2009, LDK Solar estimates revenue to be in the range of $2.9 billion to $3.1 billion.

Separately,

Trina Solar

(TSL)

, a maker of solar-power equipment based in Chanhzhou, China, said third-quarter earnings rose fourfold as revenue rose to $290.7 million from $82.6 million.