May 1 Suntech Power Holdings Co Ltd,
whose main unit is in insolvency proceedings, said it would
need more time to file restated financial statements for 2010
Suntech, which said revenue fell by an estimated 48 percent
in 2012, had planned to file the restated results in early 2013.
The company also said it would delay the filing of its
annual report for 2012 as it needed more time to assess the
impact of restructuring at its main unit in China, a moratorium
on debt repayments in Europe and its ongoing discussions with
holders of its 3 percent convertible notes.
Suntech determined that its financial results between 2010
and the first quarter of 2012 could no longer be relied upon
after it found that German bonds pledged as collateral by a
partner in a solar development fund did not exist.
Suntech has not released quarterly results since the second
quarter of 2012, and had reported losses for the four quarters
before that amid a relentless fall in prices for solar panels.
Suntech estimated fourth-quarter revenue of about $358
million. It reported $629 million a year earlier.
Revenue for 2012 nearly halved to $1.63 billion, the company
said on Wednesday.