Tue, Nov. 3, 1:22 PM
- Along with missing FQ2 estimates, American Superconductor (AMSC -5.3%) is guiding for FQ3 revenue of $19M-$22M and EPS (excluding one-time items) above -$0.62. That's unfavorable to a consensus of $26.2M and -$0.45.
- Wind division (turbine component) revenue rose 82% Y/Y in FQ2 to $13.6M. Grid division (smart grid hardware) revenue rose 9% to $5.4M.
- Reducing losses: GAAP gross margin rose to 15.8% from 13.6% in FQ1 and -10.6% a year ago, SG&A spend fell by $1.2M Y/Y to $6.8M, and R&D spend fell slightly to $3M. AMSC ended FQ2 with $36.6M in cash, down from $42.6M at the end of FQ1.
- FQ2 results, PR
Tue, Nov. 3, 8:34 AM
Mon, Nov. 2, 5:30 PM
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Mon, Aug. 31, 12:47 PM
Mon, Aug. 31, 9:41 AM
- Indian wind turbine maker Inox Wind has placed a $40M order for American Superconductor's (NASDAQ:AMSC) turbine electrical control systems. Shipments are expected to begin this quarter, with "the vast majority" expected to be finished by the end of FY15 (ends March '16).
- Inox placed a $15M order with AMSC a year ago. $6M worth of Asia-Pac grid product orders were announced last week.
Wed, Aug. 26, 1:13 PM
- American Superconductor (AMSC -0.5%) has landed $6M worth of orders to "supply a PQ-IVR Power Quality Solution to a semiconductor fabrication plant and a D-VAR Renewable Interconnectivity Solution to a wind farm in Australia." The systems are expected to be delivered by the end of FY15 (ends in March).
- The PQ-IVR system is meant to help a chip manufacturer protect against "momentary voltage sags and swells" that can affect chip production. The D-VAR system "provides the critical dynamic reactive compensation essential to connect renewable power plants to the grid effectively." For reference, AMSC had March quarter revenue of $23.7M.
Wed, Aug. 5, 12:46 PM
- American Superconductor (NASDAQ:AMSC) expects FQ2 revenue of $18M-$20M and EPS above -$0.65. Consensus is at $20M and -$0.70.
- Wind turbine component rose 137% Y/Y in FQ1 to $18.2M, and smart grid product revenue rose 37% to $5.6M. GAAP operating expenses fell by $800K Y/Y to $11.5M. Gross margin was 13.6% after being negative a year ago.
- Thanks to the company's stock offering, the cash balance rose to $42.6M from $24.5M at the end of FQ4.
- AMSC has fallen to fresh split-adjusted lows. Its market cap stands at $64.4M.
- FQ1 results, PR
Wed, Aug. 5, 8:36 AM
Tue, Aug. 4, 5:30 PM
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Tue, Jun. 9, 5:51 PM
- American Superconductor (NASDAQ:AMSC) discloses a Chinese court has dismissed (citing a lack of evidence) a software copyright infringement suit filed by its Chinese subsidiary against ex-licensee Sinovel, with whom AMSC has been in a long-running dispute over the theft of wind turbine software code.
- The company is "seeking a cease and desist order with respect to the unauthorized use of its software, monetary damages of RMB 1.2 million (approximately $0.2 million) for its economic losses (with respect to Guotong only) and reimbursement of all costs and reasonable expenses." It plans to file an appeal.
- AMSC's shares soared in Feb. 2014 after China's Supreme Court ruled the company's infringement cases against Sinovel and Gutong Electric would be separate from its arbitration claims.
Thu, May 28, 3:05 PM
- Though it beat FQ4 estimates, American Superconductor (NASDAQ:AMSC) is guiding for FQ1 EPS to be "less than" -$0.70; that's unfavorable to a -$0.63 consensus. Revenue guidance of $22M-$24M is in-line with a $23.6M consensus, and slightly below at the midpoint.
- Financials: FQ4 Wind division revenue (turbine components) +66% Y/Y to $21.2M. Grid division (smart grid components) +12% to $4.1M. SG&A spend fell by $3.8M Y/Y to $5.7M; R&D fell by $200K to $2.9M.
- Thanks in part to its $8.4M arbitration payment to Ghodawat, AMSC ended FQ4 with $24.5M in cash, down from $37.6M at the end of FQ3. A stock offering expected to yield net proceeds of $22.3M was launched last month.
- FQ4 results, PR
Thu, May 28, 8:51 AM
Wed, May 27, 5:30 PM
Tue, May 19, 9:16 AM
- The U.S. Navy has awarded American Superconductor (NASDAQ:AMSC) a contract worth up to $8.5M to provide high-temperature superconductor (HTS) ship-protection equipment.
- AMSC announced last month the Navy had "created a sole source solicitation notice" for the company's equipment, and that AMSC had "established a relationship with the Navy to develop HTS power cable hardware for ship board power applications."
- Shares have risen to $6.65 in premarket trading.
Fri, Apr. 24, 12:45 PM
Fri, Apr. 24, 9:17 AM
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