American Superconductor (Nasdaq:AMSC) Reports Financial Results

Nov 04, 2008
Author: SCP Editor

November 4, 2008 – American Superconductor (Nasdaq:AMSC) reported second quarter results this morning of $40.4 million in revenue, up 87% Y/Y, and a net loss of $4.1 million, or $0.10 per share, compared to a loss of $6.7 million, or $0.17 per share last year. Its backlog as of September 30, was $597 million. Management’s FY2008 forecast is a range of $175 million to $185 million and a net loss of $13 million to $15 million. The stock closed yesterday at $13.24, down 52% YTD. While we remain bullish on the prospects of AMSC’s business, we don’t think that the stock is unreasonably priced, at current levels.

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