- Beaten-down American Superconductor (AMSC +9.1%) is seeing a relief rally after the company soundly beat FQ3 estimates on the back of strong Indian/Chinese wind turbine component sales.
- The gains come even though AMSC is guiding for FQ4 revenue of $16M+ and EPS greater than -$0.18; that's unfavorable to a consensus of $24.3M and -$0.15. The company expects to end FQ1 with over $38M in cash; it ended FQ4 with $41.7M.
- Wind division sales (turbine components/services) rose 99% Y/Y in FQ3 to $13.5M. Grid division sales (smart grid components/services) fell 34% to $7.1M.
- R&D spend fell 25% Y/Y to $3M. SG&A fell 24% to $8.2M.
American Superconductor jumps as FQ3 beat overshadows guidance
Feb 6 2014, 11:35 ET