American Superconductor: Fiscal 3Q Earnings Snapshot
AYER, Mass. (AP) _ American Superconductor Corp. (AMSC) on Tuesday reported fiscal third-quarter net income of $17.3 million, after reporting a loss in the same period a year earlier.
The Ayer, Massachusetts-based company said it had profit of 83 cents per share. Losses, adjusted for one-time gains and costs, came to 11 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 33 cents per share.
The wind turbine component maker posted revenue of $14.1 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $15.1 million.
For the current quarter ending in March, American Superconductor said it expects revenue in the range of $14 million to $16 million.
American Superconductor shares have risen 12 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $12.47, more than doubling in the last 12 months.