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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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
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, Feb. 5, 2:28 PM
- American Superconductor (AMSC +2.5%) is guiding for FQ4 revenue of $23M-$25M, below a $25.8M consensus. However, EPS guidance of "less than" -$0.07 is above a -$0.11 consensus.
- After falling 49% Y/Y in FQ2, AMSC's Wind division (turbine component) revenue rose 12% Y/Y in FQ3 to $15.1M. Grid division (smart grid component) revenue fell 13% to $6.1M, after dropping 47% in FQ2.
- Gross margin fell to 14.8% from 22.9% a year ago. Operating expenses fell 4% to $10.9M (compares with 4% revenue growth). Thanks to AMSC's recent stock/warrant offering, its cash balance only fell by $600K Q/Q to $37.6M.
- CEO Daniel McGhan: "Our baseline revenue is driven by our two established product lines: electrical control systems for wind turbines and D-VAR® reactive compensation systems. We also remain focused on the proliferation of our two disruptive solutions: ship protection systems for the U.S. Navy and Resilient Electric Grid systems for electric utilities."
- Though higher today, shares remain well below where they traded a few months ago.
- FQ3 results, PR
Thu, Feb. 5, 8:03 AM
Wed, Feb. 4, 5:30 PM
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Nov. 6, 2014, 8:10 AM
Nov. 5, 2014, 5:30 PM
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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
Aug. 4, 2014, 5:30 PM
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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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