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LDK Solar Co., Ltd. Message Board

  • china_s2 china_s2 Nov 14, 2012 5:24 PM Flag

    OT: Solar Power Inc (SOPW)

    LDK's U.S. affiliate, Solar Power, Inc., issued some 3Q earnings data today, although their 10Q has yet to be filed (data are from their press release).

    I really don't propose to comment on their quarterly performance beyond noting that they notched up another losing quarter. Their business outlook commentary, on the other hand, caught my eye:

    "2012 Business Outlook:

    Due to continued delays on EPC projects that utilize solar panels from LDK Solar and require construction funding from China Development Bank, SPI now expects 2012 net sales in the range of $100 million to $120 million."

    There are two inferences I would draw from this. One is that they aren't receiving product from LDK; the other is that the CDB has cut off the money tap.

    Their original guidance for the full year 2012 was to be roughly double 2011 sales (which would put sales just North of $200M). At the end of 2Q, they reduced this to $150M-$170M.

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