American Superconductor (AMSC) Beats, Raises Guidance, UP 10%

American Superconductor (AMSC) reported another impressive quarter, beating analyst estimates by a wide margin.  The company posted EPS of .19/share which was .07 better than expectations .  They posted a loss in the year ago quarter.  Revenues were strong as well at $74.7 million and about 10% ahead of analyst estimates (85% greater than year ago quarter).  They are also raising their full year 2009 revenue guidance from $260 – $270 to $300 – 310 million and non GAAP net income estimate from .41 – .47/share to .59 – .64/share

“In addition to the 3 MW core electrical component contract we signed with Sinovel Wind Co., Ltd. valued at more than $100 million, our second-quarter bookings also included electrical system orders from several other wind turbine customers and a series of power grid sales in Australia, China, the United Kingdom and the United States. This positions us for continued strong growth in the second half of our fiscal year, and we have therefore increased our forecasts for revenues and net income for full year fiscal 2009,” said CEO Greg Yurek.

Shares of AMSC are currently up over 10% in premarket trading and clearing some important resistance around 32.

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