Top Chinese Solar Stock Earnings; LDK Solar Beats the Street

November 8, 2010, 4:41 pm

LDK Solar Co. Ltd. (NYSE: LDK) today posted its third-quarter results, posting a solid outlook for 2010.

The company posted third-quarter net income of $93.4 million, or 72 cents per ADS, up from $29.4 million, or 27 cents per ADS reported in the third quarter of 2009.

Revenue increased to $675.6 million, up from $281.9 million for the third quarter the year prior.

The results beat analyst estimates of $590.8 million.

LDK Solar also issued projections for the fourth quarter, expecting revenue of $2.9 billion to $3.3 billion.

The company recently announced its arbitration with PV Products. The International Court of Arbitration stated that the wafer supply contract entered into in October 2008 between LDK Solar and the Italy-based Helios Technology is valid and thatHelios is obligated to pay LDK Solar approximately $31 million. The interest of 8% shall be added from the date of the award until the effective payment as well as costs for the arbitration proceedings and lawyers’ fees to this amount.

LDK Solar recently signed two-year polysilicon sales agreement valued at approximately $300 million with BYD Company Limited, under which LDK Solar will supply polysilicon with monthly shipments expected to commence in January 2011 and extend through the end of 2012. The company has received a deposit for this two-year contract.

LDK Solar stock has a 52-week range of $4.97-$13.47. The stock is currently trading above its 50-day and 200-day moving averages. The stock has a support level at $8.47 and a resistance level $8.97. Year-to-date, the stock is up 88.02%.

LDK Solar is a producer of solar wafers in terms of capacity and a solar module manufacturer. It sells multi-crystalline and mono-crystalline wafers to manufacturers of solar cells and modules.

· Need fast service and cheap rates from a broker? Click here to see my favorite place to trade LDK
· Want more? Check out the message board buzz for LDK
· See which newsletters are recommending this stock pick
· Get breaking news alerts on this stock: http://thestockmarketwatch.com/

Tagged as: chinese solar stocks, hot solar stocks, LDK, ldk solar earnings, leading solar stocks, solar stocks, top solar stocks

About BeaconEquity.com

BeaconEquity.com is committed to producing the highest-quality insight and analysis of small cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily OTC stocks in the stock market today, which have traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.

Beacon Equity Group Disclaimer

This newsletter is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Beaconequity.com is a wholly-owned subsidiary of BlueWave Advisors.

While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.

Stocks to Watch