Kolkata, West Bengal -- (SBWIRE) -- 08/29/2013 -- Specialpennystockalert.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on Alcatel Lucent SA (ADR) (NYSE:ALU), LDK Solar Co., Ltd (ADR) (NYSE:LDK).
Alcatel Lucent SA (ADR)(NYSE:ALU) has named former managing director and partner of Goldman Sachs’ investment banking division, Jean Raby, as the firm’s new chief financial and legal officer starting September 1. The new CFO would have to relocate to the firm’s Paris headquarters.
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The firm’s CEO Michel Combs opined that the new CFO’s extensive knowledge of industry as well as profound understanding of global financial markets would be of immense value to help the firm in its implementation of Shift plan. The plan includes selling of "selective assets" as well as refinancing and reducing debt.
Before Goldman Sachs, Raby was a member of the New York Bar Association in 1988.
LDK Solar Co., Ltd (ADR)(NYSE:LDK) has come out with second quarter results of this financial year stating that the loss per American Depositary Share was 97 cents. But, the quarterly loss was lower than loss of $2.00 a year ago.
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The firm’s net revenue was $114.7 million, which was 51.1% lower because of delays in execution of photovoltaic projects for permits and subsidies from the customers as well as modifications in conventional feed-in tariff markets.
The quarterly gross loss was $59.5 million because of lower cost of goods sold.
LDK’s total operating expenses were $41.3 million, which was lower by 49% year over year because of decrease in selling, general and administrative, and research and development expenses. The firm’s total loss from operations was $95.1 million vis-à-vis $172.7 million a year ago.
The company had cash reserves of $85.1 million by the end of June as compared to $296.2 million a year ago.
The renewable energy firm is expecting its revenues to be in the range of $140 - $180 million for the next quarter as it hoping to ship wafers, cell and modules in the range of 350 - 450 megawatt and 60 - 80 MW.
On the other hand, its peers JinkoSolar Holding Co. Ltd had second quarter loss of 56 cents whereas First Solar had second-quarter 2013 earnings of 39 cents per share.
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