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American Superconductor Corp (AMSC), listed on NASDAQ under the symbol AMSC, is a pioneering system provider renowned for its innovative solutions that address the global demand for smarter, cleaner energy. Established in 1987 and headquartered near Boston, Massachusetts, AMSC operates in key regions including Asia, Australia, Europe, and North America.
AMSC designs and delivers advanced electronic controls and systems for wind turbines through its Windtec® Solutions, helping manufacturers launch turbines efficiently and cost-effectively. Their Gridtec™ Solutions offer specialized engineering planning services and grid systems aimed at enhancing network reliability, efficiency, and performance. AMSC's reach extends to the maritime sector with its Marinetec™ Solutions, providing ship protection systems and developing propulsion and power management solutions to boost fleet efficiency and safety.
The company's groundbreaking solutions power gigawatts of renewable energy worldwide and are instrumental in improving the reliability of power networks across over a dozen countries. AMSC's recent achievements include securing $34 million in new orders for energy power systems and reporting substantial revenue growth across multiple sectors, including renewables and industrial markets. For fiscal year 2023, AMSC demonstrated strong financial performance with a revenue increase exceeding 37% year-over-year, gross margin expansion, and positive operating cash flow.
AMSC's portfolio includes advanced products like D-VAR®, D-VAR VVO®, and NEPSITM that stabilize power grids by providing voltage control, power factor correction, and reactive compensation. These products are crucial for utilities to manage power quality and expand grid capacity, especially with the increasing integration of renewable energy sources.
The company also recently garnered attention with a significant order from Inox Wind Limited for its 3MW class wind turbine electrical control systems, underscoring its pivotal role in the expanding Indian wind market. AMSC's focus on innovative energy solutions positions it favorably to capitalize on emerging opportunities in both existing and new markets.
AMSC remains committed to its mission of delivering smarter, cleaner, and more efficient energy solutions, driving long-term growth and a sustainable future.
AMSC (NASDAQ: AMSC) announced $26 million in new energy power systems orders, primarily driven by industrial demand. These orders include harmonic filters and voltage controllers, with most revenue expected in fiscal year 2023. Two-thirds of the orders are for industrial applications such as mining and manufacturing, while a quarter is for renewable projects. The company's focus on sustainability positions it to benefit from growth in renewables and industrial markets. Additionally, AMSC secured its fifth ship protection system contract, highlighting its momentum in the energy sector.
AMSC has secured its fifth Ship Protection System contract with Huntington Ingalls Industries for the San Antonio-Class Amphibious Ship, LPD-32. This contract involves the delivery of a high temperature superconductor (HTS)-based degaussing system, enhancing the ship's operational capabilities by significantly reducing its magnetic signature. The contract underlines AMSC's commitment to advancing naval technology, as the San Antonio-class ships are crucial for amphibious warfare missions. The degaussing system is expected to save between 50% to 80% in weight while improving power efficiency.
AMSC (Nasdaq: AMSC) reported its financial results for Q2 FY2022, showing revenues of $27.7 million, a slight decline from $27.9 million in Q2 FY2021, primarily due to decreased Wind segment revenues. The net loss widened to $9.9 million or $0.35 per share, compared to a loss of $4.4 million or $0.16 per share a year earlier. Non-GAAP net loss was $6.5 million, or $0.23 per share. The company ended the quarter with $37.4 million in cash and a backlog exceeding $100 million. For Q3 FY2022, revenues are projected between $22 million and $26 million.
AMSC (NASDAQ: AMSC) plans to release its second quarter fiscal year 2022 financial results on November 1, 2022, after market close. A conference call will follow on November 2, 2022, at 10:00 a.m. ET, where management will discuss market trends, recent accomplishments, financial results, and business outlook. Investors can access the live call or archived webcast through the AMSC website. The company specializes in megawatt-scale power resiliency solutions, enhancing operational safety and efficiency in energy and naval applications.
AMSC announced $30 million in new energy power systems orders, driven by the push for sustainability and decarbonization efforts. Approximately one third of this revenue is expected in fiscal 2022. The orders include various power management products essential for enhancing grid stability and supporting increased demand in metals, mining, and materials. AMSC emphasizes its commitment to low carbon emissions and its critical role in the future of reliable energy.
AMSC (Nasdaq: AMSC) reported its first-quarter fiscal 2022 results, showing revenues of $22.7 million, down from $25.4 million in the same quarter last year. The decrease is attributed to lower Grid segment revenues, particularly from the D-VAR product line. AMSC's net loss widened to $8.7 million ($0.32 per share) compared to $5.4 million ($0.20 per share) in Q1 2021. Despite challenges, the company secured approximately $50 million in new orders, maintaining an order book over $100 million, and expects second-quarter revenues between $23 million and $27 million.
AMSC (NASDAQ: AMSC) plans to announce its Q1 FY2022 financial results on August 3, 2022, after market close. The company will hold an investor conference call at 10:00 a.m. ET on August 4, 2022, to discuss these results and the business outlook. AMSC specializes in advanced energy solutions, including grid systems and naval power management, driving renewable energy enhancements globally. Interested parties can listen live or access a replay via the company’s website.
AMSC (NASDAQ: AMSC) announced $40 million in new energy power systems orders, including various voltage control and power factor correction solutions. Over half of the revenue from these orders is expected to be recognized in fiscal 2022. AMSC's CEO highlighted increasing capital spending in the semiconductor industry and a global shift towards renewable energy as key drivers for demand. The company's products aim to enhance grid stability and manage power quality, supporting long-term growth in the energy sector.
AMSC (Nasdaq: AMSC) reported its fourth quarter and fiscal year results for 2021, showcasing a revenue increase to $28.3 million, up from $21.2 million year-over-year. The fiscal year revenues totaled $108.4 million, compared to $87.1 million in 2020. AMSC's net loss for Q4 was $5.0 million, improving from a loss of $7.6 million in Q4 2020. For fiscal 2021, the net loss was $19.2 million, better than the $22.7 million loss in 2020. AMSC expects Q1 2022 revenues between $23 million to $26 million, with a net loss up to $8.9 million.
AMSC (NASDAQ: AMSC) announced plans to release its Q4 and full fiscal year 2021 financial results after market close on June 1, 2022. The company's management will discuss the financial results, market trends, and business outlook during a conference call on June 2, 2022, at 10:00 a.m. ET. Investors can access the call via the company’s website or by dialing in. AMSC focuses on power resiliency solutions and is engaged in optimizing energy networks through its innovative technologies.
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