Seeking Alpha

American Superconductor Corporation (AMSC)

  • 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
    | Comment!
  • Wed, Aug. 5, 8:36 AM
    • American Superconductor (NASDAQ:AMSC): FQ1 EPS of -$0.72 misses by $0.03.
    • Revenue of $23.72M (+102.7% Y/Y) beats by $0.9M.
    • Press Release
    | Comment!
  • Tue, Aug. 4, 5:30 PM
  • 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
    | Comment!
  • Thu, May 28, 8:51 AM
    • American Superconductor (NASDAQ:AMSC): FQ4 EPS of -$0.69 beats by $0.01.
    • Revenue of $25.1M (+54.1% Y/Y) beats by $0.48M.
    • Shares +0.3% PM.
    • Press Release
    | 1 Comment
  • 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.
    | Comment!
  • Fri, Apr. 24, 12:45 PM
    | Comment!
  • Fri, Apr. 24, 9:17 AM
  • Fri, Apr. 24, 9:16 AM
    • American Superconductor (NASDAQ:AMSC) has priced a 4M-share stock offering at $6, 40% below a Thursday close of $10. Net proceeds are expected to total $22.3M.
    • The company also states it expects FQ4 revenue of $24M-$25M, at the high end of a prior guidance range of $23M-$25M; consensus is at $24.6M.
    • A factor behind the offering: AMSC expects to report a cash balance of $24.5M for the end of FY14 (ended March 31), down from $37.6M at the end of FQ3. The Q/Q drop is due to an arbitration payment to ex-licensee Ghodawat Energy.
    • Shares have plunged to $6.80 in premarket trading. They had risen 32% on the week prior to the announcements, thanks in part to a Navy solicitation notice.
  • Thu, Apr. 23, 5:39 PM
    | Comment!
  • Wed, Apr. 22, 12:45 PM
    | Comment!
  • Mon, Apr. 20, 6:53 PM
    • The U.S. Navy has "created a sole source solicitation notice" for American Superconductor's (NASDAQ:AMSC) high-temperature superconductor (HTS) equipment. AMSC has also "established a relationship with the Navy to develop HTS power cable hardware for ship board power applications."
    • AMSC notes it has collaborated with the Navy for several years on an HTS-based degaussing system, and that the system's core components are "transferable to other applications being targeted for ship implementation."
    • The company notes its ship protection systems for the Navy reduce a ship's magnetic signature, which in turn interferes with the ability of an undersea mine to detect and damage a ship. It claims its products can cut degaussing system weight by 50%-70%. On its site, AMSC claims its Amperium HTS wire "conducts approximately 200 times the electrical current of copper wire of similar dimensions."
    • Shares have risen to $8.41 AH, hitting their highest levels since a 1:10 reverse split took effect on March 25.
  • Wed, Mar. 25, 10:16 AM
    • American Superconductor (NASDAQ:AMSC) is selling off as a 1-for-10 reverse split carried out to regain Nasdaq minimum bid compliance takes effects.
    • Shares are 14% above a split-adjusted low of $5.67, and 70% below a split-adjusted high of $21.50. With long-term liquidity concerns still around, AMSC trades for less than 0.4x estimated FY16 (ends March '16) sales after factoring net cash; the FY16 revenue growth consensus is at 47%.
    • SA author Hawkinvest made a bull case for the smart grid/wind turbine component maker in February, arguing Indian wind investments and GE's efforts to create resilient grid systems are positives.
    | Comment!
Visit Seeking Alpha's
AMSC vs. ETF Alternatives
Company Description
American Superconductor Corp providesmegawatt-scale solutionsthat lower the cost of wind power and enhance the performance of the power grid.The Company's business segments areWind and Grid.