(Corrects paragraph four to show analysts’ average full-year
earnings estimate is $1.17 a share, not $0.67 a share, and
full-year revenue view is $421.7 million, not $314 million)
* Q4 adj EPS $0.18 vs est $0.16
* Q4 revenue up 43 pct, beats estimates
* Sees FY adj EPS $1.15-$1.20
* Sees FY rev $415 mln-$425 mln
* Shares up 4 pct pre-market
May 13 (BestGrowthStock) – American Superconductor Corp (AMSC.O: ),
which makes electrical systems for wind farms and turbines,
posted an adjusted quarterly profit that beat estimates, helped
by large wind power and power grid orders, sending its shares
up 4 percent before market.
The energy technology company, whose prime customer is
China’s Sinovel Wind, now sees fiscal 2010 adjusted earnings of
$1.15 a share to $1.20 a share, on revenue of $415 million to
$425 million.
It had earlier forecast full-year adjusted profit to exceed
$1.15 a share and revenue to exceed $400 million.
Analysts were expecting earnings of $1.17 a share for the
full year, on revenue of $421.7 million, according to Thomson
Reuters I/B/E/S.
For the fourth quarter ended March 31, the company reported
net income of $4.9 million, or 11 cents a share, compared with
$1.3 million, or 3 cents a share, a year ago.
On an adjusted basis, it earned 18 cents a share, topping
analysts’ average expectation of 16 cents a share.
Revenue for the fourth quarter rose 43 percent to $87.6
million. Analysts on average were expecting $85.0 million.
AMSC’s shares were up 4 percent at $30.30 in pre-market
trade. They closed at $29.24 Wednesday on Nasdaq.
Stock Market Money
(Reporting by Fareha Khan in Bangalore; Editing by
Unnikrishnan Nair)
CORRECTED – CORRECTED-UPDATE 1-AMSC Q4 tops Wall Street; shares rise
