wiredinUSA July 2018

Weak outlook, despite growth

While the Massachusetts-based company said its grid business grew by more than 20 percent in fiscal 2017, for the third consecutive year, and expects continued gains in the coming year, its fiscal first-quarter outlook of $11 million to $13 million fell belowWall Street’s $16.25 million consensus.

Shares of American Superconductor Corp (AMSC) fell sharply after the company delivered mixed fiscal fourth-quarter earnings and guidance that missed Wall Street’s expectations. AMSC, the maker of grid tech solutions, showed a narrower net loss of $0.25 in the period ending December 2017, compared with a net loss of $0.51 a year earlier, on revenue of $13.5 million versus $16.2 million a year ago. Analysts expected, on average, a loss of $0.31 on sales of $14.5 million.

Shares dropped by about 10 percent as a result.

wiredInUSA - July 2018

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