American Superconductor (AMSC) Smashes Estimates, Issues Strong Guidance

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08:08:15 am on July 30, 2009

More good news on AMSC.  I reported last night that they have increased the size of their contract with Sinovel.  This morning, American Superconductor (AMSC) reported another very strong quarter, smashing estimates on both EPS and revenue.  The company posted .12/share on the EPS side vs the expectations for a flat quarter on revenues of $73 million (83% increase over year ago quarter), better than $12 million ahead of the estimate.  It’s also increasing its full year revenue guidance by about 15% from a range of $225M – $235M to $260 – $270M.

“A solid mix of wind power and power grid business fueled another record quarter at American Superconductor,” said Greg Yurek, AMSC’s CEO. “We achieved a strong increase in power grid-related D-VAR(R) system revenue and our largest customer, Sinovel, requested delivery of additional wind turbine core electrical components during the first quarter to meet increased demand in China for its 1.5 megawatt wind turbines. This increased demand for Sinovel’s wind turbines also led to a contract amendment we announced yesterday to accelerate the original 36-month core component shipment schedule to 28 months.”


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