American Superconductor Reports Q2 Results

American Superconductor Corporation (NASDAQ: AMSC) has reported financial results for its fiscal first quarter ended June 30, 2007. Revenues for the first quarter (ended June 30, 2007) of fiscal 2007 (ending March 31, 2008) were $19.8 million, a 41 percent increase from $14.0 million in revenues for the first quarter of fiscal 2006. The company’s net loss for the first quarter of fiscal 2007, which included a number of unusual items, was $9.7 million, or $0.27 per share. The unusual items in this figure included approximately $2.9 million, or $0.08 per share, in charges primarily related to a higher mark to market valuation adjustment on an outstanding warrant required by increases in the company’s stock price, restructuring and impairment charges in the company’s AMSC Superconductors business unit, and the write off of a SuperVAR® synchronous condenser the company had planned to ship to a customer. The net loss also includes $1.2 million of amortization of acquisition-related intangibles that were not included in the prior-year quarter’s net loss. The company’s net loss for the prior-year quarter was $6.7 million, or $0.20 per share. Earnings before interest, taxes, other income and expense, depreciation, amortization and stock-based compensation (EBITDAS) was a loss of […]

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