American Superconductor (AMSC) is up just a bit this morning after reporting a smaller loss than expected. The company reported a loss of .18/share (matches the year ago quarter) in the quarter vs estimates of a .20/share loss on revenues that were slightly higher than expected at 41.3 million (a 27% increase over the year ago quarters). Not exactly a great quarter but not awful either.
The company attributed the year-over-year reduction in gross margin … Read the rest
National Grid, the company that manages power in Long Island, New York, for American Superconductor Corporation’s D-VAR Statcom service. This Smart Grid service will help maintain the efficiency and reliability of Long Island’s electrical grid. Under the agreement, AMSC will install the D-VAR Statcom service for National Grid by 2010.
About the D-VAR Statcom service:
… Read the restD-VAR dynamic reactive compensation systems are classified as Static Compensators, or “STATCOMs,” a member of the FACTS (Flexible AC-Transmission System)
American Superconductor Corporation just announced that is received a large order from China’s CSR Zhuzhou Electric Locomotive Research Institute Co., Ltd. The multi-million dollar order is for 100 sets of AMSC’s wind turbine core electrical components such as the PowerModule(TM) PM3000W. The components, which should be shipped out by the end of this year, will be used in 1.65 MW wind turbines designed by AMS Windtec.
Greg Yurek, AMSC’s CEO, commented on the order in … Read the rest
American Superconductor (AMSC) is releasing preliminary earnings results this evening and they aren’t pretty. The company’s revenue estimates are about in line with analyst estimates at around 41 million, but the company is expecting larger losses for the quarter due to estimated cost overruns on its turnkey SVC projects, higher Windtec engineering costs, charges for excess inventory and unfavorable exchange rates. Excuses, excuses, excuses. Yep, it was a poorly executed quarter all the way around … Read the rest
American Superconductor Corporation announced that it has received an order for its Turnkey D-Var system from Basin Electric Power Cooperative, one of the largest producers and distributors of electricity in the US. The D-VAR (“STATCOM”) reactive compensation solution will be installed near Wright, Wyoming, and used to maintain the stability and reliability of the electric power grid in the area.
According to Virtualization.sys-con.com, the D-Var system will "have a continuous rating of 34 mega-volt-amperes reactive … Read the rest
American Superconductor Corporation announced yesterday that the company has just received its first order from the Chinese power grid market. The order, placed by Beijing SNTA Electric Power Technique Co., was for one of AMSC’s D-VAR voltage regulation systems. Under the contract, AMSC will provide Beijing SNTA Electric Power Technique Co one of these systems by the middle of this year.
The D-VAR system makes it possible for wind farms to connect to the larger … Read the rest
American Superconductor confirmed its 2008 forecast, saying it expects to the end the year with a less of .30-.35 per share. The company expects to post sales of $175 million to $185 million. Wall Street analysts predicted that the company would lose .34 per share and post sales of $176.6 million.
The company’s 2009 forecast was well above Wall Streets expectations. The expect to earn revenues of over $225 million and to see a … Read the rest
AMSC and leading Chinese industrial equipment manufacturer Shenyang Blower Works announced today a partnership that will position SBW as a leading supplier of wind turbines for the China marketplace. AMSC will provide designs for its 2MW induction wind turbines, help localize the supply of all core components, establish the wind turbine manufacturing line and build and test SBW’s first prototype turbines. Sounds like a great deal for SBW! Once SBW receives certification, they will … Read the rest
Second quarter financial results are in for American Superconductor Corporation. The company set a record for itself on revenue, earning $40.4 million. That’s an 87 percent increase over this time last year. Net loss was $4.1 million, or $0.10 per share, which compares favorably to last year’s second quarter net loss of $6.7 million, or $0.17 per share. EBITDAS were were a positive $1.1 million, compared to an EBIDTAS loss of $2.3 million this … Read the rest
American Superconductor (AMSC) announced that it has licensed two of its wind turbine designs, the 1.65 MW and 2MW doubly fed induction versions, to South Korea’s Hyundai Heavy Industries, the world’s largest shipbuilder and global supplier of electrical equipment. Hyundai plans to begin production on the turbines at the end of 2009 and will initially target the US market.
“Hyundai Heavy Industries is one of the largest manufacturers of high quality, large-scale electro-mechanical equipment … Read the rest