American Superconductor: Fiscal 1Q Earnings Snapshot
AYER, Mass. (AP) _ American Superconductor Corp. (AMSC) on Tuesday reported a loss of $4.7 million in its fiscal first quarter.
The Ayer, Massachusetts-based company said it had a loss of 23 cents per share. Losses, adjusted for stock option expense and non-recurring costs, were 18 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 29 cents per share.
The wind turbine component maker posted revenue of $12.6 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $12 million.
For the current quarter ending in October, American Superconductor said it expects revenue in the range of $13 million to $15 million.
American Superconductor shares have climbed 43 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $5.18, a rise of 62 percent in the last 12 months.