LDK reports 4Q11 gross margin of negative 65.5%
LDK Solar, a China-based vertically integrated manufacturer of solar products, has reported its unaudited financial results for the fourth quarter ended December 31, 2011. According to LDK, fourth-quarter 2011 revenues were US$420.2 million, lower than US$471.9 million of revenues in third-quarter 2011 and US$920.2 million in fourth-quarter 2010. In the fourth quarter, the firm shipped 197.7MW of solar wafers, 255.5MW of solar cells and modules and produced 2,317.8MT of polysilicon. The firm reported fourth-quarter 2011 gross margin of negative 65.5%, a significant drop from negative 3.6% of gross margin in third-quarter 2011 and positive 27.3% gross margin in fourth-quarter 2010.