(Reuters) - Chinese solar firm LDK Solar Co Ltd slumped to a third consecutive quarterly loss as weak demand and rapidly declining average selling prices hurt the company's revenue and margins.
LDK Solar, a major supplier of wafers and cells that are used to build photovoltaic panels, was hammered last year following cuts in generous solar subsidies in top markets Germany and Italy.
LDK Solar, which had delayed reporting its fourth-quarter results, posted a loss of $588.7 million, or $4.63 per American Depositary Shares (ADS), compared with a profit of $145.2 million, or $1.09 per ADS in the year-ago period.