LDK Solar Reports Financial Results for the First Quarter 2008
Monday, May 12, 2008 4:05 PM
Symbols: LDK
For the full year of fiscal 2008, LDK Solar currently estimates:


    -- Revenue to be in the range of $1.08 billion to $1.18 billion;    -- Wafer shipments in the range of 560 MW to 580 MW;    -- Gross margin in the range of 23% to 28%; and    -- Annualized wafer production capacity to be 1.1 GW by the end of 2008       and 2.0 GW by the end of 2009.

Conference Call Details


The LDK Solar First Quarter 2008 teleconference and webcast is scheduledto begin at 6:00 p.m. Eastern Time (ET), on Monday, May 12, 2008. To listen tothe live conference call, please dial 800-240-2430 (within U.S.) or303-262-2051 (outside U.S.) at 5:50 p.m. ET on May 12, 2008. An audio replayof the call will be available to investors through May 16, 2008, by dialing800-405-2236 (within U.S.) or 303-590-3000 (outside U.S.) and entering thepasscode 11113408#.



LDK Solar Co., Ltd. Unaudited Condensed Consolidated Balance Sheet Information (in US$'000, except share and per share data)
3/31/2008 12/31/2007 Assets Current assets Cash and cash equivalents 93,705 83,470 Pledged bank deposits 142,086 135,950 Trade accounts receivable, net 8,905 3,767 Inventories, net 519,594 349,997 Prepayments to suppliers 206,330 138,193 Other current assets 39,187 29,825 Deferred income tax assets 658 546 Total current assets 1,010,465 741,748 Property, plant and equipment, net 501,078 336,763 Deposit for property, plant and equipments 200,725 151,233 Intangible asset, net 1,109 1,096 Land use rights 64,612 29,259 Inventories to be processed beyond one year, net 21,401 29,981 Prepayments to suppliers to be utilized beyond one year 20,534 18,994 Pledged bank deposits - non-current 30,020 - Other financial assets 2,794 525 Deferred income tax assets 368 387 Total assets 1,853,106 1,309,986
Liabilities and shareholders' equity Current liabilities Short-term bank borrowings 313,933 264,101 Trade accounts payable 37,465 18,032 Advance payments from customers 231,089 141,223 Accrued expenses and other payables 137,525 95,301 Income tax payable 4,466 - Other financial liabilities 7,577 3,357 Total current liabilities 732,055 522,014 Long-term bank borrowings, excluding current portions 37,795 25,125 Advance payments from customers - non-current 301,313 67,554 Other liabilities 2,164 2,222 Total liabilities 1,073,327 616,915 Shareholders' equity Ordinary shares: US$0.10 par value; 499,580,000 shares authorized; 106,478,033 and 106,044,700 shares issued and outstanding as of March 31, 2008 and December 31, 2007, respectively 10,648 10,604 Additional paid-in capital 494,358 486,253 Statutory reserve 18,697 18,697 Accumulated other comprehensive income 60,214 31,481 Retained earnings 195,862 146,036 Total shareholders' equity 779,779 693,071 Total liabilities and shareholders' equity 1,853,106 1,309,986
LDK Solar Co., Ltd.

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