|LDK's 2009 revenue outlook above estimates|
Monday August 25, 7:30 am ET
LDK offers upbeat 2009 revenue outlook as expansion of wafer production is ahead of schedule
NEW YORK (AP) -- LDK Solar Co. Ltd. on Monday projected 2009 revenue above Wall Street estimates as the China-based solar wafer maker said it met its goal of expanding its wafer production capacity ahead of schedule.
LDK said it expects revenue between $2.8 billion and $3 billion for 2009. It also expects to ship between 1.45 gigawatts and 1.55 gigawatts of wafer shipments for next year.
Analysts surveyed by Thomson Reuters expect full-year revenue of $2.43 billion for next year.
The company said that it reached its goal of shipping 1.0 gigawatts ahead of schedule, which is in line with the company's previously announced plans to reach annualized wafer production capacity of up to 1.2 gigawatts by the end of the year; 2.2 gigawatts by the end of 2009 and 3.2 gigawatts by the end of 2010.