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EmailDuring a fourth-quarter conference call, analysts questioned why the silicon included in LDK’s inventories didn’t match the amount in the warehouse. At the time, an investor group report had suggested the silicon being transported to the warehouse accounted for the difference (see LDK Defends its Inventory Accounting).
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In other solar industry news, installer Akeena Solar (NSDQ: AKNS), saw its stock drop almost 9 percent Thursday after reporting a worse-than-expected fourth-quarter loss.
Net loss for the quarter was $4.5 million, or $0.18 per share, compared to net loss of $1.2 million, or $0.07 per share, in the same quarter a year ago.
Costs, like those associated to company expansion, contributed to the loss.
Although Akeena’s net sales for the quarter more than doubled from $4.5 million a year ago to $10.3 million, it wasn’t enough to make investors happy.
Thomson Financial analysts were expecting a loss of 11 cents per share for the quarter, excluding one-time charges, on $9.6 million in revenues.
As a result, Akeena’s stock sank $0.56, or 8.35 percent, to $6.15.
Germany’s SolarWorld also saw its stock take a hit when the company suggested earnings growth this year may fall short of a previous forecast, according to Bloomberg.
Shares tumbled about €1.45 ($2.26), or 4.6 percent, to €29.86 ($46.64) per share on the Frankfurt Stock Exchange.