Editorial Summary

Jiangxi-based multicrystalline solar wafer manufacturer LDK Solar Co, Ltd. (NYSE: LDK) announced financial results for the first quarter of 2008 after market close on Monday. Net sales came in at $233.4 million, up 21.1 percent quarter-on-quarter and 218 percent year-on-year, while net income was $49.8 million, compared to $49.2 million in the previous quarter. During the three month period, wafer shipments were up 27.6 percent to 119.2 MW.

LDK is projecting revenue between $278 million and $288 million on wafer shipments of between 136 MW and 146 MW in the second quarter of 2008. Full year revenue estimates have been increased to between $1.08 billion and $1.18 billion with wafer shipments of 560 MW to 580 MW. The company hopes to reach annual wafer production capacity of 1.1 GW by the end of 2008, and 2.0 GW by the end of next year.