LDK Solar Co., Ltd. (LDK) Crushes Earnings Estimates, Soars After Hours
LDK Solar Co., Ltd., a manufacturer of solar wafers in China, reported second quarter financial results this afternoon that blew away estimates. Net sales were $441.7 million, a sequential increase of 89.2% from $233.4 million in the first quarter, and a whopping 345.9% increase from $99.1 million for the second quarter of fiscal 2007. Net income tripled sequentially to $149.5 million, or $1.29 per ADS, from $49.8 million, or $0.45 per ADS in the first quarter. During last year’s second quarter the company earned $0.29 per ADS. These results took analysts by surprise; the consensus earnings estimate was $.42 per…