American Superconductor Q4 Loss Widens; Issues Q1 Outlook

(RTTNews) - American Superconductor Corp. (AMSC) posted fourth-quarter net loss of $22.7 million, wider than $19.8 million in the comparable quarter last year. Loss per share for the latest fourth quarter narrowed to $0.33 from $0.35 per share last year.

Non-GAAP net loss for the latest fourth quarter narrowed to $9.4 million, or $0.14 per share from $11.8 million, or $0.21 per share in the previous year period. On average, two analysts polled by Thomson Reuters expected the company to report a loss of $0.17 per share. Analysts' estimates typically exclude special items.

Revenues for the latest fourth quarter were $16.29 million, compared with $20.42 million, while two analysts had a consensus revenue estimate of $16.25 million.

The year over year decrease in revenues in the fourth fiscal quarter was a result of lower revenues in the Company's Grid segment, partially offset by higher Wind segment revenues.

For the first quarter, AMSC expects its net loss to be less than $16 million, or $0.20 per share and revenues to be in the range of $11 million to $13 million. AMSC expects that its non-GAAP net loss for its first quarter of fiscal 2014 will be less than $13.5 million, or $0.17 per share.

Analysts currently expect first quarter loss of $0.15 per share on revenues of $19.10 million.