LDK Solar announced some bad news today. The China-based solar equipment manufacturer posted an unexpectedly large quarterly loss. It also forecast weak second quarter sales. This move sent company shares plunging more than 8 percent.The company’s first quarter net loss came in at $135.8 million, contrasted with last year’s net profit of $135.4 million. Forecasted second quarter sales are between $220 and $270 million, below the expected $370.4 million. Solar panel prices have plummeted over the past year due to a supply glut, closing down many solar companies. LDK Solar will likely issue new long-term debt to reduce its shorter-term facilities, but experts believe that may not be enough to protect it from bankruptcy.
