Nov. 13, 2014, 4:03 PM| 2 Comments
Nov. 7, 2014, 10:12 AM
- American Superconductor (AMSC -1.1%) is selling 9.1M "common stock units" to an unnamed investor. Each unit consists of one share sporting a $1.10 offering price, and 0.9 warrants (good from the date of issuance to Nov. 2019) to buy shares at $1.10. Net proceeds are expected to total $9M.
- AMSC had $38.2M in cash at the end of September (down $4.6M Q/Q), and $9.3M in notes payable. The company had free cash flow of -$13.5M in FY14 (ended March '14), and is expected to post losses in FY15 and FY16.
- The company's beaten-down shares rose yesterday after AMSC posted an FQ2 beat and offered soft guidance. The wind turbine/smart grid component maker expects FQ3 revenue of $18M-$20M and EPS above -$0.13 (consensus is at $24.1M and -$0.10), and FY15 revenue of $65M-$75M (consensus is at $76.9M).
Nov. 6, 2014, 8:10 AM| Comment!
Nov. 5, 2014, 5:30 PM
- AAON, AAP, AAWW, AEE, AES, AINV, AKRX, AMCX, AMRC, AMSC, AOL, APA, AZN, BBG, BCE, BCRX, BDBD, BKCC, BR, CDW, CECE, CECO, CNK, CNQ, COTY, CPN, CRZO, CVC, CYNI, DNOW, DTV, ERJ, FSYS, FUN, FUR, GEO, GLP, GNRC, GOLD, HAIN, HII, HNR, HSC, HSIC, HSP, HZNP, IT, KATE, KERX, KLIC, LIN, LMIA, LPI, MITL, MPEL, MWIV, NAVB, NRF, NTWK, NXTM, ONE, OWW, PBH, PDCE, PERI, PHMD, PKD, PMC, PNK, POZN, PRFT, PRGO, PRIM, PTCT, RDNT, RGEN, SATS, SCMP, SFUN, SFY, SGM, SLH, SNI, SNMX, SRPT, TAP, TCPC, TDC, TEDU, THS, TK, TNDM, TPH, TU, VC, VIVO, WAC, WD, WEN, WIN, ZEUS
Sep. 16, 2014, 9:20 AM
Sep. 4, 2014, 10:13 AM
- An ICC arbitration court has ruled American Superconductor's (NASDAQ:AMSC) Austrian subsidiary breached a 2008 license agreement with former Indian wind turbine tech licensee Ghodawat Energy, and has awarded Ghodawat $11M in damages and costs.
- AMSC says it believes it has "sufficient available liquidity to satisfy the award, if required, and to fund its operations for at least the next twelve months." The company had $42.8M in cash at the end of FQ2 (its June quarter).
- A $10.5M FQ3 charge is expected to be recorded for the ICC ruling.
Sep. 4, 2014, 9:10 AM
Aug. 21, 2014, 5:35 PM
Aug. 21, 2014, 9:53 AM
- American Superconductor (NASDAQ:AMSC) has received a $15M follow-on order from India's Inox Wind for electrical control systems to be used in Inox's wind turbines. The majority of the shipments are expected to occur in FY15 (ends March '16).
- AMSC notes the order is the seventh it has received from Inox since the company began making 2MW turbines through a license obtained from AMSC in 2009, and that Inox's planned IPO will provide it with fresh capital.
- The company is reiterating FY14 (ends March '15) guidance for revenue to be flat to slightly down Y/Y. In the June quarter, AMSC's wind division sales fell 48% Y/Y due to soft Chinese demand.
Aug. 5, 2014, 9:39 AM
- 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
Aug. 5, 2014, 8:18 AM| 1 Comment
Aug. 4, 2014, 5:30 PM
- ACM, ACT, ADM, AEE, AKRX, ALLT, AME, AMSC, ANSS, ARCC, ARCO, ARQL, BCRX, BLMN, CIE, CLDT, CNK, COH, CRZO, CVC, CVS, DWRE, EMR, END, ENZY, EXH, EXLP, EXPD, FE, FUN, GLDD, GTIV, GTXI, HCLP, HCP, HEP, IART, IFF, IIVI, INFI, IT, KWK, LIN, LPX, MDU, MGM, MMP, MSI, MWW, MZOR, NILE, NNN, [[NTi]], NVDQ, NWN, ODP, OXF, OZM, PMC, RBA, REGN, RHP, RIGL, RTI, SCMP, SCOR, SMG, SNSS, SPAR, STE, TDG, VMC, VSI, VTG, WLK, WNR, ZBRA, ZTS
Jul. 17, 2014, 12:46 PM
Jul. 16, 2014, 12:37 PM
Jul. 16, 2014, 11:01 AM
- Utility giant Exelon's (NYSE:EXC) ComEd unit has "agreed to develop a deployment plan" for using American Superconductor's (NASDAQ:AMSC) high-temperature superconductors to "build a superconducting cable system that will strengthen Chicago's electric grid."
- ComEd declares linking its urban infrastructure with the superconductor system will "provide added reliability, resiliency and security to Chicago's Central Business District."
- More than 3 miles of superconductor cable will be installed; ComEd calls the effort "the most extensive superconductor project of this nature in the world."
- AMSC is near $2 for the first time since March. Volume is already over 4x its daily average. Over 12% of the float was shorted as of June 30.
Jun. 5, 2014, 5:43 PM
- 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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