AMSC Reports $9.2M Q1 Profit

American Superconductor Corp. of Devens rode its Asian wind turbine manufacturing business to a $9.2 million first quarter profit and a revenue increase of 33 percent compared to the previous year.

As a result, the company increased its revenue guidance for the year to a range of $420-$430 million. It had been $415-$425 million.

During the same quarter a year ago, AMSC reported a $1.8 million profit on revenue of $73 million.

It has spent a little cash along the way, finishing the quarter with $120.7 million compared to $155 million a year ago. Its backlog was $952 million compared to $588 million a year earlier.