American Superconductor Corp.(NASDAQ:AMSC) released its fourth-quarter results after Wednesday's closing bell. Here's a look at the details from the report.
The Details: American Superconductor reported quarterly earnings of 13 cents per share, which beat the analyst consensus estimate of 10 cents. Quarterly revenue came in at $66.7 million, which beat the analyst consensus estimate of $60.27 million and is up from revenue of $42.03 million from the same period last year.
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“AMSC reported its strongest quarterly and annual performance in years,” said Daniel P. McGahn, chairman, CEO of AMSC.
“Fiscal fourth quarter revenue grew sequentially to over $66 million, up nearly 60% year-over-year. Net income surpassed $1.2 million, making our third consecutive quarter of profitability, and seventh consecutive quarter of positive operating cash flow. We secured $75 million in new orders, bringing total year-end orders to a recent record of nearly $320 million,” McGahn added.
Outlook: American Superconductor sees first-quarter adjusted earnings of 10 cents per share, versus the 10 cent estimate, and revenue in a range of $64 million to $68 million, versus the $60.65 million analyst estimate.
AMSC Price Action: According to data from Benzinga Pro, American Superconductor stock was up 7.57% at $26.02 after-hours on Wednesday.
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