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LDK Solar reduces Q3 revenue forecast by a quarter

LDK Solar has reduced its third quarter (Q3) revenues forecast by about a quarter to US$460-470 million, as the company is hit by rapidly declining prices for solar wafers and modules.

By Kari Williamson

Expected wafer shipments now stand at 285-290 MW (previously 350-400 MW) and solar module shipments are expected to reach 185-190 MW (compared to previously forecast 250-300 MW).

LDK Solar says the gross margin is expected to be a negative 3.5-5%.

The guidance for the full year 2011 has also been reduced with revenues now expected to reach US$2.2-2.25 billion (previously US$2.5-2.7bn). Wafer shipments could reach 1.55-1.65 GW (previously 1.8-2 GW) and solar module shipments are expected to amount to 550-650 MW (previously 750-800 MW).

The gross margin for 2011 has been reduced from 15-20% to 9-12%.

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