American Superconductor Corporation (NASDAQ:AMSC) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 5.88%.
American Superconductor Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.14 in the quarter versus EPS of $-0.20 in the year-earlier quarter.
Revenue: Decreased 19.57% to $23.1 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: American Superconductor Corporation reported adjusted EPS loss of $0.14 per share. By that measure, the company beat the mean analyst estimate of $-0.18. It beat the average revenue estimate of $22.95 million.
Quoting Management: “AMSC continued to execute to plan for the first fiscal quarter, growing revenues by 13% and reducing net loss by 47% on a sequential basis from the fourth quarter of fiscal 2012,” said Daniel P. McGahn, AMSC President and CEO. “In fiscal 2013, we remain focused on effectively managing our cash position, while driving profitable revenue growth. We are reaffirming our guidance that we expect annual revenue growth of at least 25% in fiscal 2013 over fiscal 2012. We have a solid presence in several established markets and continue to seek opportunities to enter emerging markets where we see significant opportunity.”
Key Stats (on next page)…