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LDK Solar posts smaller second-quarter loss
August 27, 2013 / 7:43 AM / 4 years ago

LDK Solar posts smaller second-quarter loss

Aug 27 (Reuters) - China’s LDK Solar Co Ltd posted a smaller second-quarter loss than a year ago and said it was seeing the early signs of a recovery in the solar panel market.

Its net loss narrowed to $165.3 million, or 97 cents per American Depositary Share (ADS), from $254.3 million, or $2 per ADS, in the second quarter of 2012.

The debt-laden company’s revenue more than halved to $114.7 million.

LDK is one of the most heavily indebted Chinese solar companies, with a majority of its debt due next year. Chinese solar companies piled on debt over the past two years to expand output, eventually leading to a glut that sent prices of panels tumbling.

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