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American Superconductor Corporation (AMSC)

- NASDAQ
  • Mon, Aug. 31, 12:47 PM
    | Mon, Aug. 31, 12:47 PM | 2 Comments
  • 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.
    | Mon, Aug. 31, 9:41 AM | 1 Comment
  • 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, 12:46 PM | Comment!
  • 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, 3:05 PM | Comment!
  • 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.
    | Tue, May 19, 9:16 AM | Comment!
  • Fri, Apr. 24, 12:45 PM
    | Fri, Apr. 24, 12:45 PM | Comment!
  • Fri, Apr. 24, 9:17 AM
    | Fri, Apr. 24, 9:17 AM | 4 Comments
  • 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.
    | Fri, Apr. 24, 9:16 AM | 3 Comments
  • Thu, Apr. 23, 5:39 PM
    | Thu, Apr. 23, 5:39 PM | Comment!
  • Wed, Apr. 22, 12:45 PM
    | 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.
    | Mon, Apr. 20, 6:53 PM | 3 Comments
  • 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.
    | Wed, Mar. 25, 10:16 AM | Comment!
  • Wed, Mar. 25, 9:11 AM
    | Wed, Mar. 25, 9:11 AM | Comment!
  • Tue, Mar. 24, 5:39 PM
    • With shares having traded below $1.00 for several months (thus running afoul of the Nasdaq's $1.00 minimum bid rule), American Superconductor (NASDAQ:AMSC) has signed off on a 1-for-10 reverse split. Shares begin trading on a post-split basis tomorrow.
    • AMSC +3.4% AH to $0.725.
    | Tue, Mar. 24, 5:39 PM | Comment!
  • Thu, Mar. 12, 3:13 PM
    • Major tech gainers are about even with major decliners on a day the Nasdaq is up 0.8% (thanks to a broader market rally) in spite of Intel's Q1 warning.
    • Notable gainers include 3D printer maker Voxeljet (VJET +5.9%), cloud ERP/HR software provider NetSuite (N +3.7%), flash sales site Zulily (ZU +7.5%), stock photo marketplace Shutterstock (SSTK +6.5%), cloud telecom expense software vendor Tangoe (TNGO +5.6%), It services provider Virtusa (VRTU +4.7%), online video ad platform TubeMogul (TUBE +4%), and online ad campaign software provider Marin (MRIN +4.2%).
    • Notable decliners include several Chinese firms. Specifically, search/portal/game provider Sohu (SOHU -5.3%), entertainment/IM/gaming platform YY (YY -4.2%), mobile game publisher Sky-mobi (MOBI -5.8%), and sports lottery site 500.com (WBAI -5.6%).
    • Other big decliners include printer maker Lexmark (LXK -2.6%), chip packaging/testing provider ChipMOS (IMOS -4.7%), and smart grid/wind turbine component maker AMSC (AMSC -6.3%).
    • Zulily is just a day removed from making fresh lows the wake of last month's Q4 miss and soft guidance. BMO provided an upbeat note on TubeMogul yesterday.
    • YY has now more than given back the gains it saw last week following its Q4 beat. ChipMOS posts Q4 results after the close, and is two days removed from reporting its February sales rose 10.5% Y/Y, a slower pace than in recent months (thanks in part to the timing of the Chinese New Year). 500.com recently crashed due to license suspensions, but had bounced from its lows. Lexmark drop comes shortly after HP refreshed its printer lineup.
    • Previously covered: Box, Rosetta Stone, CyberArk, Integrated Silicon, Universal Display, Spherix, Synchronoss, Ingram Micro
    | Thu, Mar. 12, 3:13 PM | Comment!
  • 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, 2:28 PM | Comment!
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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.