Key Developments: American Superconductor Corporation (AMSC.O)
31.14USD
9 Feb 2010
$0.26 (+0.84%)
$30.88
$31.20
$32.22
$31.00
1,185,032
1,909,741
$43.95
$11.66
Latest Key Developments
American Superconductor Corporation Raises FY 2009 Guidance; Reaffirms FY 2010 Guidance
American Superconductor Corporation raised its fiscal 2009 guidance and now expects revenue to be in the range of $312-$315 million, up from previous forecasted range of $300-$310 million, GAAP net income has been increased from a range of $11.0-$13.0 million, or $0.24-$0.29 per diluted share, to a range of $14.0-$15.0 million, or $0.31-$0.33 per diluted share, non-GAAP net income forecast has increased from a range of $27.0-$29.0 million, or $0.59-$0.64 per diluted share, to a range of $29.5-$30.5 million or $0.65-$0.67 per diluted share. For fiscal 2010, it expects revenue to exceed $400 million and non-GAAP net income to exceed $54 million, or $1.15 per diluted share. According to Reuters Estimates, analysts on an average are expecting the Company to report revenue of $314 million, net profit of $24.15 million and EPS of $0.59 for fiscal 2009.
American Superconductor Corporation Receives $70 Million Order For Wind Turbine Electrical Control Systems
American Superconductor Corporation announced that it has received an initial order for full wind turbine electrical control systems from China`s Shenyang Blower Works (Group) Co., Ltd. (SBW) that is worth approximately $70 million. The systems will be deployed in the 2 megawatt (MW) doubly fed induction wind turbines that were co-developed with AMSC Windtec, a wholly owned subsidiary of the Company.
American Superconductor Corporation Announces Contract
American Superconductor Corporation announced that it has received an initial order for 100 sets of wind turbine core electrical components from China`s XJ Group Corporation (XJ Group). The components will be deployed in 2 megawatt (MW) doubly fed induction wind turbines that were co-developed with AMSC Windtec, a wholly owned subsidiary of AMSC. XJ Group erected its first 2 MW wind turbine in December 2009 and has completed construction of a new wind turbine manufacturing plant with an annual capacity of 1000 MW in the city of Xuchang in the Henan province of China.
American Superconductor Corporation Receives Fourth D-VAR System Order For Power Grid In China
American Superconductor Corporation announced that it has received a new D-VAR system order to increase the reliability of a portion of the power grid in China operated by China Southern Power Grid Company Ltd., which is one of the two State Owned Enterprises that operate all of China`s power grids. Xiamen-based Xiamen Red Phase Instruments Inc. (Red Phase) will deploy the D-VAR system at the 220 kilovolt (kV) Yuanmo substation in Chuxiong in the Yunnan Province of China.
American Superconductor Corporation's Subsidiary Signs Contract To Develop Five Megawatt Wind Turbines With Dongfang Turbine Co. Ltd.
American Superconductor Corporation announced that its wholly owned AMSC Windtec subsidiary has signed a follow-on contract with Dongfang Turbine Co. Ltd. (Dongfang) to design and jointly develop five megawatt (MW) full conversion wind turbines for the offshore wind power market. Dongfang has exclusive rights to the five MW full conversion wind turbine designs in China and plans to begin supplying the wind turbines for the worldwide offshore market in 2012.
American Superconductor Corporation Names Daniel P. McGahn President
American Superconductor Corporation announced that Daniel P. McGahn has been promoted to the position of President. In this role, McGahn will be responsible for AMSC`s day to day global operations. He will continue to report to founder and Chief Executive Officer Greg Yurek.
American Superconductor Corporation Reaffirms FY 2009 Guidance; Issues FY 2010 Revenue Guidance; EPS Guidance Above Analysts' Estimates
American Superconductor Corporation reaffirmed its fiscal 2009 guidance and expects revenues to a range of $300 to $310 million, GAAP net income of $11 to $13 million, or $0.24 to $0.29 per diluted share and on a non-GAAP basis, the Company continues to expect net income of $27 to $29 million, or $0.59 to $0.64 per diluted share. For fiscal 2010, it expects to grow revenues to more than $400 million, GAAP net income of more than $36 million, or more than $0.77 per diluted share, and a non-GAAP profit of more than $54 million, or more than $1.15 per diluted share. According to Reuters Estimates, analysts were expecting the Company to report non-GAAP EPS of $0.60 on revenue of $305 million for fiscal 2009; non-GAAP EPS of $1.04 on revenue of $407 million for fiscal 2009
American Superconductor Corporation Receives Second Wind Turbine Electrical Control Systems Order From Hyundai Heavy Industries
American Superconductor Corporation announced that it has received a follow on order for 30 sets of electrical control systems from Hyundai Heavy Industries Co., Ltd. (Korean Stock Exchange: HHI) for its 1.65 megawatt (MW) wind turbines now in production in South Korea. The Company also has received an electrical control systems order for HHI`s 2 MW wind turbine prototypes. All of the systems will be shipped to HHI by the end of May 2010.
American Superconductor Corporation Receives $10 Million Order For Wind Turbine Core Electrical Components
American Superconductor Corporation announced that it has received a follow on order for $10 million worth of wind turbine core electrical components from China`s CSR Zhuzhou Electric Locomotive Research Institute Co., Ltd. (CSR-ZELRI). CSR-ZELRI will use the components in the 1.65 megawatt (MW) wind turbines designed by AMSC`s wholly owned AMSC Windtec subsidiary.
American Superconductor Corporation Raises FY 2009 Guidance; Issues Q3 2009 EPS Guidance Above Analysts' Estimates; Comments On Q4 2009 EPS Guidance
American Superconductor Corporation announced that for fiscal 2009, the Company increased revenue guidance from a range of $260-$270 million to a range of $300-$310 million. GAAP net income forecast for fiscal 2009 is being increased from a range of $5.0-$7.0 million, or $0.11-$0.16 per diluted share, to a range of $11.0-$13.0 million, or $0.24 to $0.29 per diluted share. AMSC's non-GAAP net income forecast has increased from a range of $18-$21 million, or $0.41-$0.47 per diluted share, to a range of $27.0-$29.0 million, or $0.59-$0.64 per diluted share. The Company expects to generate a GAAP profit in the third quarter of 2009, whereas it previously forecasted the potential for a small GAAP net loss. Non-GAAP earnings per share for the third quarter of 2009 are expected to be approximately half of second quarter of 2009 non-GAAP earnings per share due to lower-margin shipments and a planned increase in operating expenses to support future growth. Earnings are expected to increase again in fourth quarter of 2009, consistent with current full fiscal year forecast. The Company reported EPS of $0.19 in second quarter of 2009. According to Reuters Estimates, analysts were expecting the Company to report revenues of $273 million, net profit of $21.1 million and EPS of $0.44 for fiscal 2009; EPS of $0.07 for third quarter of 2009; EPS of $0.13 for fourth quarter of 2009.
UPDATE 3-AMSC Q3 tops Street; shares fall as outlook disappoints
* Shares fall 9 pct (Adds analyst and company comments, updates share movement)
Earnings vs. 
Estimates
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