AMSC -8% due to soft FQ2 outlook


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

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Comments (1)
  • 8547481
    , contributor
    Comments (118) | Send Message
     
    McGann is an over played blow hard who was in charge of Asia when sinovel stole the IP. Henry sounded like a buffoon on today's call and neither of these guys are believable. The board of this company is derelict in its duties IMO.
    5 Aug 2014, 11:43 AM Reply Like
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