UPDATE: LDK Solar Swings To Q2 Loss; Shares Down In Pre-Market

LDK Solar Co Ltd LDK swung to a second-quarter net loss on Monday. LDK Solar posted a quarterly net loss at $87.7 million, or $0.62 per American Depository Shares (ADS), versus a net income of $45 million, or $0.36 per ADS, in the year-ago period. Its net sales dropped 12% to $499.4 million. However, analysts were expecting a loss of $0.25 per share on sales of $506.5 million. LDK Solar's gross margins dipped to 2.2%, from 18% in the year-earlier period. It shipped 429.2 MW of wafers in the period. LDK projects Q3 revenue of $630 to $680 million, and wafer shipments between 350-400 megawatts (MW). LDK shares dropped 5.14% to $5.54 in pre-market trading.