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American Superconductor (AMSC) -15.9% to new multi-year lows after: 1) Stating it expects FQ3...
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Wednesday, November 28, 2012, 9:09 AM ETAmerican Superconductor (AMSC) -15.9% to new multi-year lows after: 1) Stating it expects FQ3 revenue of $20M+ and EPS above -$0.46, which suggests it will soundly miss a consensus of $26.5M and -$0.24. The company blames financing and cash flow constraints among wind farm builders and turbine manufacturers. 2) Announcing it has cut its workforce by 25% and is consolidating office space. It expects these moves to cut annual expenses by $10M, and produce charges of $3M-$4M. (PR)
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