Company expects Q2 net income to exceed $1 mln, or $0.02 per share.
AMSC expects Q2 non-GAAP net income to exceed $8 mln, or $0.17 per share.
Result drivers
Organic growth and acquisition - Co said Q1 revenue increase was driven by organic growth and the acquisition of Comtrafo.
Utility-sector mining developments - Record total orders above $130 mln were led by utility-sector mining developments and traditional energy markets, per CEO Daniel P. McGahn.
Accelerated market demand - Co attributed nearly quadrupled operating cash flow to accelerated market demand.
Quarterly results
US power control solutions provider's fiscal Q1 revenue rose 30% yr/yr to a record high.
Fiscal Q1 non-GAAP net income fell to $7.6 mln from $11.6 mln a year earlier.
Company reported record orders above $130 mln, driven by utility-sector mining developments.
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell".
The average consensus recommendation for the electrical components & equipment peer group is "buy".
Wall Street's median 12-month price target for American Superconductor Corp is $60.00, about 79.4% above its August 4 closing price of $33.45.
The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 53 three months ago.
AMSC•
