American Superconductor Q3 Loss Narrows

(RTTNews) - American Superconductor Corp.'s (AMSC) net loss for the third quarter narrowed to $8.4 million, or $0.14 per share, from $21.1 million, or $0.38 per share, in the comparable quarter last year.

Non-GAAP net loss for the latest third quarter was $5.7 million, or $0.09 per share, narrower than $13.5 million, or $0.26 per share in the previous year period. On average, two analysts polled by Thomson Reuters expected the company to report a loss of $0.19 per share. Analysts' estimates typically exclude special items.

Revenues for the third quarter were $20.56 million, compared with $17.42 million for the same period of fiscal 2011, while two analysts had a consensus revenue estimate of $80.70 million.

For the fourth fiscal quarter ending March 31, 2014, AMSC expects its net loss to be less than $16 million, or $0.24 per share and revenues to exceed $16 million. This forecast excludes any impact from mark-to-market adjustments related to the derivative liability and warrants. AMSC expects that its non-GAAP net loss for its fourth quarter of fiscal 2013 will be less than $12 million, or $0.18 per share. AMSC expects to have more than $38 million in cash, cash equivalents and restricted cash on March 31, 2014.

Analysts currently expect fourth quarter loss of $0.15 per share on revenues of $24.30 million.