Key Developments: American Superconductor Corp (AMSC.OQ)

AMSC.OQ on NASDAQ Stock Exchange Global Select Market

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1 Aug 2013
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Latest Key Developments (Source: Significant Developments)

American Superconductor Corp Reiterates FY 2013 Revenue Guidance
Friday, 14 Jun 2013 10:00am EDT 

American Superconductor Corp reiterated its fiscal 2013 guidance and expects annual revenue growth of at least 25%. The Company reported revenue of reported revenue of $87.42 million for fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $96.20 million fiscal 2013.  Full Article

American Superconductor Corp Issues Q1 2013 Guidance In Line With Analysts' Estimates
Friday, 14 Jun 2013 08:00am EDT 

American Superconductor Corp announced that for the first quarter of 2013, it expects revenues will exceed $22 million and that its net loss will be less than $15 million, or $0.26 per share, and non-GAAP net loss will be less than $11 million, or $0.19 per share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $24 million and EPS of $(0.18) for first quarter of 2013.  Full Article

American Superconductor Corp Updates On Q4 2012 Revenue Guidance
Monday, 1 Apr 2013 04:15pm EDT 

American Superconductor Corp announced that for fourth quarter of 2012, it expects that its revenues will be between $19 million and $20 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $20 million for fourth quarter of 2012.  Full Article

American Superconductor Corp Receives $30 Million Follow-On Order From Inox Wind
Monday, 11 Feb 2013 04:10pm EST 

American Superconductor Corp announced that it has received an order worth in excess of $30 million for wind turbine electrical control systems (ECS) from Inox Wind Limited, part of India's Inox Group of Companies. AMSC expects to begin shipments under this new order during the current quarter and complete shipments in 2014. This is the fifth and order that AMSC has received from Inox since the Company began volume production of its 2 megawatt wind turbines, which were licensed from AMSC in May 2009.  Full Article

American Superconductor Corp Issues Q4 2012 Guidance In Line With Analysts' Estimates
Monday, 11 Feb 2013 04:05pm EST 

American Superconductor Corp announced that for fourth quarter of 2012, it expects revenues will exceed $18 million, net loss will be less than $18 million, or $0.32 per share, non-GAAP net loss will be less than $13 million or $0.23 per share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $26 million and EPS of $(0.26) for fourth quarter of 2012.  Full Article

American Superconductor Corp Receives Order For D-VAR
Tuesday, 15 Jan 2013 08:00am EST 

American Superconductor Corp announced that it has received an order for a D-VAR reactive compensation solution from Xiamen Red Phase Instruments Inc (Red Phase). This is the third order that AMSC has received from Red Phase.  Full Article

American Superconductor Corp Provides Litigation Update
Friday, 11 Jan 2013 08:00am EST 

American Superconductor Corp announced that it has received a notice that China's Supreme People's Court will review the jurisdiction opposition brought by Sinovel Wind Group Co., Ltd (Sinovel) in the copyright infringement case that AMSC filed in Hainan, a southern Chinese province, against Sinovel and Dalian Guotong Electric Co., Ltd. (Guotong). The Supreme Court has stated that, until the jurisdiction opposition is reviewed, the decision by the Hainan No. 1 Intermediate People's Court to dismiss this case has been stayed. The date for this Supreme Court review has yet to be determined. This is one of four legal cases that AMSC brought against Sinovel regarding Sinovel's contractual breaches and AMSC's discovery of intellectual property theft by Sinovel. AMSC filed its civil action for software copyright infringement with the Hainan No. 1 Intermediate People's Court in late 2011. In this case, AMSC is seeking a cease and desist order as well as damages totaling approximately USD200,000, making it the smallest of AMSC's legal actions. Sinovel filed a jurisdiction opposition motion requesting that the Hainan Province No. 1 Intermediate People's Court dismiss AMSC's case against Sinovel. Not only did the court grant Sinovel's motion, it dismissed the cases against both Sinovel and Guotong.  Full Article

Nexans SA and American Superconductor Corp Introduce Fault Current Limiter for North American Utilities
Wednesday, 5 Dec 2012 08:00am EST 

Nexans SA announced that together with American Superconductor Corp they introduced to the North American market a medium voltage superconductor fault current limiter (SFCL) solution that is designed to meet many of the challenges caused by interconnected networks and diversified generation sources. Fault currents, which are caused by short circuits in the grid, are a growing challenge for power grid operators worldwide. These destructive currents can be caused by a variety of factors, including lightning or downed power lines. As electricity demand and generation has grown and power grids have become more interconnected, the magnitude of these fault currents has increased significantly. To counter this, utilities have long devised complicated operating schemes, have employed over-rated equipment and a variety of fault current mitigation systems such as fault current limiting reactors. However, each of these approaches has distinct drawbacks in terms of cost. AMSC and Nexans propose SFCL systems with ratings up to 36 kilovolts, allowing for their use on most utility electric distribution systems.  Full Article

American Superconductor Corp Announces Cost Reduction Action; Sees Q3, Q4 2012 Charge Guidance
Wednesday, 28 Nov 2012 08:30am EST 

American Superconductor Corp (AMSC) announced that it has reduced its workforce by approximately 25% and is consolidating office space to lower operating costs and enhance liquidity in response to challenging conditions in the wind power market. Reductions have been made across all of AMSC's major geographic locations and functions. The Company now has a global workforce of approximately 340 employees. In total, AMSC anticipates that it will incur restructuring charges of approximately $3 to $4 million over the next two quarters (third and fourth quarter of 2012) relating to the workforce reduction and office consolidations. Of this total, the Company expects to pay approximately $2 million in cash severance costs in the third quarter of 2012.  Full Article

American Superconductor Corp Lowers Q3 2012 Guidance
Wednesday, 28 Nov 2012 08:30am EST 

American Superconductor Corp announced that it has revised guidance for the third fiscal quarter of 2012 as a result of anticipated wind turbine electrical control system shipment delays to certain of its Windtec Solutions partners. The Company now expects that its revenues will exceed $20 million for the quarter and net loss will be less than $24 million, or $0.46 per share. This guidance includes the aforementioned restructuring charges but assumes no impact from mark-to-market adjustments related to the derivative liability and warrants. AMSC expects that its non-GAAP (as defined below) net loss for the third quarter of 2012 will be less than $16 million, or $0.31 per share.  Full Article

RPT-UPDATE 1-U.S. charges Chinese wind company with stealing trade secrets

LOS ANGELES, June 27 - Chinese wind turbine maker Sinovel Wind Group Co and two of its employees were charged with stealing trade secrets from U.S.-based AMSC by the Department of Justice (DoJ) on Thursday.

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