American Superconductor (NASDAQ:AMSC) expects FQ2 revenue to be "flat to slightly higher" Q/Q; the consensus is for revenue to rise 78% Q/Q to $20.8M. EPS is expected to be above -$0.19; consensus is at -$0.12.
FQ1 Wind division revenue -40% Q/Q and -48% Y/Y to $7.7M due to lower Chinese sales. Grid division revenue +12% Q/Q and -52% Y/Y to $4M; the Y/Y drop is due to lower D-VAR voltage regulation system sales.
Gross margin was -3.3%, down from 22.1% a year ago. Opex (includes $1.2M in restructuring/impairment charges) fell 12% Y/Y to $12.3M.
AMSC ended FQ1 with $42.8M in cash, down from $49.4M at the end of FQ4.
FQ1 results, PR