Chinese LDK Solar net profit jumps threefold in Q3 2010

(ADPnews) - Nov 10, 2010 - Chinese photovoltaic (PV) products maker LDK Solar (NYSE:LDK) said on Monday its third-quarter net profit surged to USD 93.4 million (EUR 67.7m) from USD 29.4 million a year ago, driven by record revenue growth.

Operating profit leaped to USD 119.5 million from USD 37.1 million for the same period last year.

Revenue soared 139.7% on the year to USD 675.6 million thanks to robust industry demand and improved pricing conditions, LDK Solar said.

During the quarter the company produced 1,243 tonnes of polysilicon and shipped 569.5 MW of wafers and 94.1 MW of modules.

Its manufacturing capacity rose to 2.6 GW of wafers, 11,000 tonnes of polysilicon, 760 MW of modules and 120 MW of cells as of the end of September.

LDK Solar guides for a fourth-quarter revenue of USD 710 million-750 million on the back of wafer shipments of 580-600 MW, module shipments of 120-130 MW, in-house polysilicon production of 1,700-1,900 tonnes, and in-house cell output of 20-23 MW.

Full-year revenue is expected at USD 2.9 billion-3.3 billion on wafer shipments of 2.5-2.8 GW, module shipments of 700-800 MW, in-house polysilicon output of 9,000-10,000 tonnes, and cell production of 400-500 MW.

(USD 1.0 = EUR 0.725)

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