LOS ANGELES (Reuters) - Solar wafer maker LDK Solar Co Ltd warned on Monday of lower-than-expected fourth quarter and 2009 revenue, saying the global economic crisis and tight credit markets have weakened demand for solar power, sending its shares down nearly 14 percent.
The Chinese company also said it experienced a delay ramping up production at its new polysilicon plant. Polysilicon is the solar industry's key raw material.
LDK expects fourth-quarter revenue of $425 million to $435 million. It previously forecast revenue of $555 million to $565 million for the quarter.
For 2009, the company expects revenue of $2.3 billion to $2.5 billion, down from an prior view of $2.9 billion to $3.1 billion.
LDK shares fell to $12.80 in extended trading after closing at $14.84 on the Nasdaq.
(Reporting by Nichola Groom; Editing by Andre Grenon)
Publié le 05 janvier 2009 Copyright © 2009 Reuters
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