American Superconductor (AMSC) posted solid Q2 results this morning, beating analyst estimates and increasing their 2010 guidance. The company reported a non GAAP EPS of .32/share (vs the estimate for .28) on revenues of $101.5 million (vs the estimate for $101 million). That’s good for a 68% increase in EPS over the year ago quarter and a 35% increase in revenues. Sequentially, the numbers were a slight improvement.
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American Superconductor (AMSC) Rallying On Big Wire Order From Korea’s LS Cable
Yesterday American Superconductor (AMSC) announced the rebranding of its 2nd generation HTS wire to Amperium and it appears the marketing strategy is paying off! This morning they announced a large order from Korea’s LS Cable for a million feet which AMSC will begin shipping in 2012.
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The two companies are no strangers. In March, they announced a partnership to deploy more than 31 miles … Read the rest
American Superconductor (AMSC) Gets India Wind Turbine Components Order From Inox Group
American Superconductor (AMSC) continues to expand its business in India. The company announced a $20 million order back in April from Ghodawat Energy. This morning they have announced an order from India based Inox Group for 17 sets of wind turbine electrical control systems for 2MW turbines. Inox began licensing AMSC wind turbine designs last year and recently began volume production of the 2MW turbines. No word on the financials of this deal.
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American Superconductor (AMSC) Acquires 25% Of Wind Turbine Blade Manufacturer
American Superconductor (AMSC) announced earlier today that it acquired a 25% stake in UK based Blade Dynamics, a designer and manufacturer of advanced wind turbine blades for $8 million in cash and will gain one seat on the Board. Blade Dynamics designs increase efficiency and performance of high power wind turbine blades. Dow Chemical (DOW) also purchased a minority stake in the company.
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AMSC CEO … Read the rest
American Superconductor (AMSC) Beats, Guides A Bit Higher
American Superconductor (AMSC) reported Q2 results this morning with an EPS of $0.28, 4 cents better than the analyst estimate on revenues of $97.2 million, which beat estimates calling for $93.43 million. That represents a more than doubling of profits over the year ago quarter on revenues that were 32% higher than the year ago quarter. Gross margins increased 10% to 40% over the year ago quarter. Another strong quarter out of AMSC which makes … Read the rest
American Superconductor (AMSC), Hyundai Heavy Industries To Build 5MW Offshore Wind Turbines
American Superconductor (AMSC) & Hyundai Heavy Industries announced today that they have expanded their existing joint venture relationship to include the collaboration on a 5MW wind turbine for use in offshore wind farms. Once HHI begins production near the end of next year, they will purchase the necessary electrical components from AMSC.
AMSC already licenses wind turbine designs to HHI for the 1.65MW and 2MW systems. The 1.65MW systems are currently in volume production and … Read the rest
Analyst Rating Roundup: LDK, RINO, AMSC
A few analyst ratings/notes to highlight this morning.
The biggest was the two notch upgrade of LDK Solar (LDK) by Bank of America from Underperform to Buy due to lower risks of oversupply. Following the LDK Solar earnings report, I mentioned that I thought the stock offered a very compelling entry down at these levels and has the potential to double or triple if you’re patient. I still believe that. Shares of LDK gapped … Read the rest
American Superconductor (AMSC) Beats, Guides In Line, Shares Surge
American Superconductor (AMSC) reported strong growth again last quarter and beat analyst estimates in the process, by reporting a non GAAP EPS of .18/share which was .02 better than estimates. Revenues were a bit higher than estimates as well at $87.6 million.
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CEO Greg Yurek commented on the year ahead:
“Entering fiscal 2010, we have approximately 90 percent of our forecasted revenues in backlog, which gives … Read the rest
American Superconductor (AMSC) Receives Another Follow On Order From Hyundai Industries For Wind Turbine Components
American Superconductor (AMSC) is up a bit in pre-market trading today after announcing it has received another follow on order for 30 sets of wind turbine power electronic components from South Korea’s Hyundai Heavy Industries who will use the components in the AMSC designed 1.65MW wind turbines. All shipments to Hyundai for this order are expected by June 30.
Hyundai licenses AMSC designs (beginning in 2008) and is allowed to market and sell wind turbines … Read the rest
American Superconductor (AMSC) & GT Solar (SOLR) Get Buy Ratings
A couple Buy ratings to tell you about this morning. Deutsche Bank has upgraded American Superconductor (AMSC) to Buy and raised the price target $38. Hat tip to Street Insider for the following analyst comment:
“On fears of slowing demand for wind power in China, AMSC’s shares have underperformed the R2000 by 39% YTD. We expect this to reverse over the next 6 months following bullish FY10 guidance (in mid May), new wins (including follow-on … Read the rest