October 29, 2009
AMSC Boasts $4.3M Q2 Profit
By Matthew L. Brown
American Superconductor Corp. of Devens turned a $4.3 million profit on revenue that spiked by 85 percent in the second quarter of its fiscal year.
The manufacturer of high-temperature superconductor cable and equipment for the wind power industry reported revenue of $74.5 million for the quarter compared to $40.4 million a year ago.
The $4.3 million profit contrasts with a $4.1 million loss in the second quarter of 2008.
AMSC said its backlog as of Sept. 30 was $587 million. At the same time last year, it was $497 million.
The company boosted its revenue expectation for the year from a between $260 million and $270 million to somewhere between $300 million and $310 million.
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