Tuesday, American Superconductor Corp. (AMSC) said its third-quarter GAAP net income was $5.2 million or $0.11 per share compared with a net loss of $7.8 million or $0.18 per share in the prior year period.
Non-GAAP net income for the quarter was $9.1 million or $0.20 per versus a net loss of $4.9 million or $0.11 per share in the year-ago period. On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $0.14 per share for the quarter.
Total revenues for the quarter increased to $80.65 million from $41.33 million in the comparable period. Fourteen analysts estimated revenues of $76.72 million for the quarter.
AMSC raised its GAAP net income forecast for fiscal 2009 to a range of $14.0 million - $15.0 million, or $0.31 - $0.33 per share from its prior range of $11.0 million - $13.0 million, or $0.24 - $0.29 per share. AMSC's non-GAAP net income forecast has increased to a range of $29.5 million - $30.5 million, or $0.65 - $0.67 per share from its previous range of $27.0 million - $29.0 million, or $0.59 - $0.64 per share. Nina analysts estimate earnings of $0.62 per share for the year.
Fiscal 2009 revenues are now expected to be in a range of $312 million - $315 million, up from the earlier range of $300 million - $310 million. Twelve analysts estimate revenues of $306.90 million for the year.
The company said it anticipates non-GAAP net income to exceed $54 million, or $1.15 per share and revenue to exceed $400 million for full year fiscal 2010. Nine analysts estimate earnings of $1.20 per share and twelve analysts estimate revenues of $419.50 million for the year.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.