February 3, 2009
AMSC Reports $7.8M Quarterly Loss
By Matthew L. Brown
Devens-based American Superconductor Corp. reported a third quarter net loss of $7.8 million on revenue of $41.3 million.
The company's loss for the same period a year ago was $7.3 million. During that period, the company reported revenue of $32.6 million.
The energy technology company said it had about $122.6 in cash at the end of the quarter compared to $128.9 at the end of the third quarter of 2007. Its backlog increased to $602 million from $597 million during the same period.
AMSC said its earnings were hurt by non-cash charges totaling $2.8 million related to acquisitions and stock compensation.
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