American Superconductor: Fiscal 2Q Earnings Snapshot
AYER, Mass. (AP) _ American Superconductor Corp. (AMSC) on Tuesday reported fiscal second-quarter net income of $22.6 million, after reporting a loss in the same period a year earlier.
The Ayer, Massachusetts-based company said it had profit of $1.10 per share. Losses, adjusted for one-time gains and costs, came to 13 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 25 cents per share.
The wind turbine component maker posted revenue of $14.9 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $13.9 million.
For the current quarter ending in January, American Superconductor expects its per-share earnings to be 31 cents.
The company said it expects revenue in the range of $14 million to $16 million for the fiscal third quarter.
American Superconductor shares have more than doubled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $7.54, a climb of 77 percent in the last 12 months.