LDK Solar says weather disrupted 1st-qtr shipments

LOS ANGELES, Feb 5 (Reuters) - Chinese solar wafer maker LDK Solar Co Ltd (LDK.N: Quote, Profile, Research) on Tuesday forecast first-quarter revenue below Wall Street analysts' estimates due to severe winter weather that disrupted shipments to its customers.

Despite the revenue shortfall, LDK gave an earnings forecast that was in line with analysts' expectations.

The company's shares fell as much as 7.5 percent following the announcement.

"The severe winter conditions that China has experienced in the past few weeks are likely to have some impact on most of the publicly traded solar companies," Oppenheimer analyst Adam Hinckley said in a client note. "We believe most estimates are still achievable, but upside for (the first quarter) may be more limited."

Hinckley said weather was still impacting companies in China's Jiangsu province, including Canadian Solar Inc (CSIQ.O: Quote, Profile, Research), Suntech Power Holdings Co Ltd (STP.N: Quote, Profile, Research), Trina Solar Ltd (TSL.N: Quote, Profile, Research), Solarfun Power Holdings Co Ltd (SOLF.O: Quote, Profile, Research) and China Sunergy Co Ltd (CSUN.O: Quote, Profile, Research).

LDK forecast first-quarter revenue of $195 million to $210 million, below Wall Street's average estimate of $228.5 million, according to Reuters Estimates.

First-quarter earnings per American Depositary Share are expected to be between 39 cents and 44 cents, LDK said. Analysts were expecting earnings, on average, of 40 cents per share, according to Reuters Estimates.

LDK also said it expects wafer shipments of 93 to 98 MW for the quarter.

The company backed its previously announced full-year outlook calling for revenue of $960 million to $1 billion.

LDK shares were down $1.82, or 4.7 percent, at $36.52 in midday trade after hitting a low of $35.73 earlier in the session. (Reporting by Nichola Groom)