American Superconductor (AMSC) Tops Q1 EPS by 9c

American Superconductor (NASDAQ: AMSC) reported Q1 EPS of ($0.18), $0.09 better than the analyst estimate of ($0.27). Revenue for the quarter came in at $12.6 million versus the consensus estimate of $13.83 million.

“Our Grid segment delivered strong results in the first quarter of fiscal 2018,” said Daniel P. McGahn, President and CEO, AMSC. “We expect revenue growth in our Grid business again this year and revenue growth in our Wind segment this year, driven by what we anticipate will be a recovery in the wind market in India.”

Business OutlookFor the second quarter ending September 30, 2018, AMSC expects that its revenues will be in the range of $13 million to $15 million. The Company's non-GAAP net loss (as defined below) is expected not to exceed $6 million, or $0.29 per share. The Company expects non-GAAP operating cash flow (as defined below), exclusive of any net proceeds received by the Company from the Sinovel settlement, to be from break-even to a burn of $2 million in the second quarter of fiscal 2018. The Company expects to net approximately $27 million in proceeds (after expenses and taxes) from the first payment of the Sinovel settlement received on July 4, 2018. The Company expects cash, cash equivalents and restricted cash on September 30, 2018, to be no less than $53 million. The Company’s net income for the second quarter of fiscal 2018 is expected to be no less than $21 million, or $1.01 per share.

For earnings history and earnings-related data on American Superconductor (AMSC) click here.

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