July 29, 2010
AMSC Reports $9.2M Q1 Profit
By Matthew L. Brown
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.
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