Aug. 5, 2014, 8:18 AM| 1 Comment
Aug. 4, 2014, 5:30 PM
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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.
Jun. 5, 2014, 8:36 AM| Comment!
Jun. 4, 2014, 5:30 PM
Mar. 19, 2014, 12:35 PM
- American Superconductor (AMSC +3.3%) now expects FQ4 (March quarter) revenue of $14M-$16M and EPS of -$0.14 to -$0.16 vs. prior guidance of $16M+ in revenue and EPS of -$0.18 or greater, and a consensus of $17M and -$0.18. The company expects to be net cash flow positive for FQ4.
- AMSC also says it's: 1) Shutting down a Middleton, WI smart grid component facility, and transitioning the unit to its Devens, MA HQ. 2) Adjusting headcount at its Chinese wind turbine component facility, which will now be focused on the local market. 3) Setting up a turbine control systems manufacturing center in Romania.
- The moves are expected to lower AMSC's headcount by 5%-10% by year's end, result in $4M-$6M in charges, and yield $3M/year in cost savings.
Mar. 11, 2014, 12:44 PM
- An rally that has already yielded huge gains for fuel cell and other alternative energy stocks is now propelling smart grid/wind turbine maker American Superconductor (AMSC +12.8%) higher.
- Last month, AMSC rallied on an FQ3 beat and a favorable legal ruling in its long-running battle against ex-customer Sinovel. 9% of the float was shorted as of Feb. 14.
Mar. 10, 2014, 9:12 AM
Mar. 5, 2014, 12:45 PM
Mar. 5, 2014, 9:12 AM
Feb. 19, 2014, 12:45 PM
Feb. 19, 2014, 10:11 AM
- China's Supreme Court has ruled American Superconductor's (AMSC +18.2%) copyright infringement cases against wind turbine maker Sinovel and fellow Chinese firm Gutong Electric will be separate from its commercial arbitration claims. Shares have soared in response.
- AMSC has accused Sinovel, a one-time customer, of stealing wind turbine controller code. The DOJ has already charged Sinovel and two of its execs with trade secret theft, and a former AMSC employee has plead guilty in Austria to stealing code.
Feb. 6, 2014, 11:35 AM
- Beaten-down American Superconductor (AMSC +9.1%) is seeing a relief rally after the company soundly beat FQ3 estimates on the back of strong Indian/Chinese wind turbine component sales.
- The gains come even though AMSC is guiding for FQ4 revenue of $16M+ and EPS greater than -$0.18; that's unfavorable to a consensus of $24.3M and -$0.15. The company expects to end FQ1 with over $38M in cash; it ended FQ4 with $41.7M.
- Wind division sales (turbine components/services) rose 99% Y/Y in FQ3 to $13.5M. Grid division sales (smart grid components/services) fell 34% to $7.1M.
- R&D spend fell 25% Y/Y to $3M. SG&A fell 24% to $8.2M.
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