* Sees Q2 revenue at $215-$225 mln vs Street view $250 mln
* Hikes Q2 wafer shipments forecast
* Shares dip 2.2 percent
LOS ANGELES, July 2 China's LDK Solar LDK.N
on Thursday forecast lower-than-expected second-quarter
revenue, as demand for solar cells stays depressed and solar
manufacturers struggle to secure financing.
But the wafer maker raised its estimate for second-quarter
wafer shipments slightly to 220-230 megawatts from a previous
Shares in LDK Solar dipped 2.2 percent after falling 3
percent in regular trade.
The company said in a statement it will resume expanding
capacity, aided by loans from two Chinese lenders and
encouraged by a spike in demand late in the second quarter.
It forecast lower-than-expected revenues of $215 million to
$225 million in the quarter ended June 30, down as much as 25
percent from the first quarter's $283.3 million and lagging
analysts' average forecast for $250 million, according to
Reuters Estimates. [ID:nWNAB4175]
LDK Solar added that its annualized wafer capacity hit 1.5
gigawatts at the end of the period, with a target of reaching
2.0 gigawatts by the end of this year.
In May, the company posted a wider than expected
first-quarter net loss of $22.5 million, or 21 cents a share,
as the global credit crisis dried up funding for renewable
energy projects. [ID:nN21301506]
(Editing Bernard Orr)