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American Superconductor closes higher in spite of light guidance

  • Citing an expected Q/Q drop in Wind (turbine component) division sales due to a customer's "temporary manufacturing issues," American Superconductor (AMSC +1.5%) expects FQ1 revenue of $11M-$13M and an EPS loss of "less than" -$0.17. That's unfavorable to a consensus of $19.1M and -$0.15.
  • Wind division sales +42% Y/Y in FQ4 to $12.7M. Grid (smart grid component) division sales -69% to $3.6M.
  • A $110K gross loss was reported for the quarter (compares with a $2.3M gross profit a year ago). At the same time, cost-cutting efforts led opex to fall 19% Y/Y to $14.8M.
  • AMSC ended FQ4 with $49.4M in cash/equivalents, up from $41.7M at the end of FQ3.
  • FQ4 results, PR.

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Comments (1)
  • 8547481
    , contributor
    Comments (57) | Send Message
     
    Board of Directors is out to lunch on AMSC. CEO needs to execute. Show us the contracts and stop talking about what you expect in the out quarters
    7 Jun 2014, 05:44 AM Reply Like
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