Third Quarter Highlights:
Record quarterly revenue of $675.6 million, an increase of 19.5%
sequentially and 139.7% year-over- year;
Shipped 569.5 MW of wafers, 94.1 MW of modules in the third quarter;
Gross margin for the third quarter was 22.2%;
Net income was $93.4 million, or $0.72 per diluted ADS for the third quarter
;
Increased wafer capacity to 2.6 GW in September 2010;
Produced a total of approximately 1,243 MT of polysilicon during the third
quarter; and
Entered into several solar module supply contracts during the third quarter.
Net sales for the third quarter of fiscal 2010 were $675.6 million, compared
to $565.3 million for the second quarter of fiscal 2010 and $281.9 million
for the third quarter of fiscal 2009.
Gross profit for the third quarter of fiscal 2010 was $150.0 million,
compared to $101.8 million in the second quarter of fiscal 2010 and $56.8
million for the third quarter of fiscal 2009.
Gross margin for the third quarter of fiscal 2010 was 22.2%, compared to 18.
0% in the second quarter of fiscal 2010 and 20.1% in the third quarter of
fiscal 2009.
Income from operations for the third quarter of fiscal 2010 was $119.5
million, compared to $78.6 million for the second quarter of fiscal 2010 and
$37.1 million for the third quarter of fiscal 2009.
Operating margin for the third quarter of fiscal 2010 was 17.7% compared to
13.9% in the second quarter of fiscal 2010 and 13.2% in the third quarter of
fiscal 2009.
Income tax expense for the third quarter of fiscal 2010 was $14.8 million,
compared to $7.7 million in the second quarter of fiscal 2010 and $6.6
million in the third quarter of fiscal 2009.
Net income for the third quarter of fiscal 2010 was $93.4 million, or $0.72
per diluted ADS, compared to $45.0 million, or $0.36 per diluted ADS for the
second quarter of fiscal 2010 and $29.4 million, or $0.27 per diluted ADS
for the third quarter of fiscal 2009. The number of shares for calculating
diluted ADS was approximately 136.0 million for the third quarter of fiscal
2010, 125.9 million for the second quarter of fiscal 2010 and 108.3 million
for the third quarter of fiscal 2009.
LDK Solar ended the third quarter of fiscal 2010 with $571.9 million in cash
and cash equivalents and $254.0 million in pledged bank deposits
