AMSC Reports Financial Results

American Superconductor Corporation (NASDAQ: AMSC), a leading energy technologies company, y reported financial results for its fiscal third quarter ended December 31, 2006. Revenues were $9.5 million, and the company’s net loss was $9.5 million, or $0.29 per share. In December 2006, the company announced that it expected revenues for the third quarter of approximately $9 million and a net loss of $9 million to $11 million as a result of funding delays from the U.S. Department of Energy (DOE) and a technical delay relating to the need to repair a crack in a non-superconductor component of the 36.5 megawatt motor being manufactured for the U.S. Navy. Revenues for the third quarter of the previous fiscal year were $13.5 million, and the company’s net loss was $7.5 million, or $0.23 per share. Revenues for the first nine months of fiscal 2007 were $33.1 million, and the company’s net loss was $23.2 million, or $0.71 per share. Revenues for the first nine months of fiscal 2006 were $36.6 million, and the company’s net loss was $19.8 million, or $0.61 per share. Earnings before interest, taxes, depreciation, amortization and stock-based compensation, or EBITDAS, was $(8.1 million) for the third quarter of fiscal […]

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