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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) reported Q4 and fiscal year 2020 results, with revenues of $21.2 million, a rise from $18.1 million in Q4 2019, attributable to increased Grid segment revenues. However, the company experienced a net loss of $7.6 million in Q4 2020, compared to $5.9 million in Q4 2019. For the full fiscal year, revenues grew to $87.1 million from $63.8 million in 2019, partly due to the NEPSI acquisition. The net loss for the fiscal year was $22.7 million. AMSC projects Q1 2021 revenues between $22 million and $26 million, with a net loss not exceeding $6.5 million.
AMSC has announced over $19 million in new energy power system orders, primarily for its D-VAR STATCOM and VVO systems, as well as NEPSI capacitor banks and harmonic filters. These orders are aimed at the industrial and renewable energy sectors and are expected to enhance voltage regulation across various applications, including semiconductor fabs and wind power plants. Revenue from these orders is anticipated to be recognized in fiscal year 2021. The company expects its Grid business to drive revenue growth, capitalizing on increased order traction and cross-selling opportunities.
AMSC (NASDAQ: AMSC) announced it will release its Q4 and full fiscal year 2020 financial results after market close on June 2, 2021. A conference call with management will occur on June 3, 2021, at 10:00 a.m. ET to discuss financial results, market trends, and business outlook. Investors can access the live webcast through the company's website or preregister for the call to bypass the operator. AMSC specializes in power resiliency solutions for the grid and the Navy’s fleet, contributing to renewable energy systems globally.
AMSC has acquired Neeltran, Inc. for $4.5 million in cash and $4.3 million in stock, expanding its industrial sector offerings. This acquisition is expected to enhance AMSC's product lineup, potentially increasing sales content by 2-3x and expanding its total market to nearly $3B. AMSC anticipates the deal will generate positive operating cash flow and be accretive to earnings per share within 12 months. Neeltran's expertise in rectifiers and transformers aligns with AMSC's goals in the growing electric vehicle market.
AMSC has secured $15 million in new energy power system orders, primarily for its D-VAR® STATCOM and D-VAR VVO® systems, aimed at enhancing grid stability for the renewable and industrial sectors in the U.S. The revenue from these orders is anticipated to be recognized in fiscal year 2021. The company expects continued growth in its Grid business, as stated by CEO Daniel P. McGahn, who emphasized AMSC's capability to support power quality and expand grid capacity for renewable energy.
AMSC (Nasdaq: AMSC) reported third-quarter fiscal 2020 revenues of $23.6 million, up from $17.9 million year-over-year, driven by increased revenues in both Grid and Wind segments. The net loss for the quarter was $7.9 million ($0.31 per share), slightly improved from a net loss of $6.8 million ($0.32 per share) in Q3 2019. The company's cash and equivalents rose to $84.4 million by December 31, 2020. For Q4, AMSC anticipates revenues of $18 million to $22 million with expected net losses not exceeding $8 million.
AMSC (NASDAQ: AMSC) plans to release its third quarter fiscal year 2020 financial results on February 3, 2021, after market close. A conference call will follow on February 4, 2021, at 10:00 a.m. ET, where management will discuss market trends, recent accomplishments, financial results, and business outlook. Investors can listen to the call via the company's website or by phone. AMSC is a provider of power resiliency solutions, optimizing grid performance and enhancing the operational safety of naval fleets.
AMSC has secured its fourth contract for a high temperature conductor (HTS)-based ship protection system with the U.S. Navy to be used on the USS Richard M. McCool Jr. (LPD-29). This contract highlights AMSC's commitment to enhancing naval fleet capabilities by reducing magnetic signatures to protect against undersea mines. The San Antonio-class ships are crucial for various military operations, expected to serve throughout the 21st century. AMSC continues to innovate in power resiliency solutions, aiming to bolster military and renewable energy sectors.
AMSC reported its financial results for Q2 FY2020, revealing revenues of $21.1 million, up from $14.0 million in Q2 FY2019, largely due to increased D-VAR shipments. However, the company incurred a net loss of $3.7 million or $0.17 per share, compared to a $0.8 million loss in the prior year. For Q3 FY2020, revenue is projected between $22 million and $25 million, but net loss may reach $6.0 million. AMSC anticipates maintaining cash reserves over $80 million by year-end.
AMSC has announced $15 million in new energy power system orders, emphasizing the demand from the renewable energy sector in the U.S. The orders include AMSC’s D-VAR® STATCOM and D-VAR VVO® systems, as well as NEPSI metal enclosed capacitor banks. These systems enhance voltage regulation and power quality for wind and solar energy integration into the grid. Revenue from these orders is anticipated to be recognized in fiscal year 2021, with the CEO stating that this positions their Grid business for growth.
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