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American Superconductor Corporation (AMSC) delivers cutting-edge solutions for renewable energy systems, smart grid technologies, and defense applications. This news hub provides investors and industry professionals with essential updates on the company's strategic developments.
Track all official announcements including quarterly earnings, product innovations, and partnership agreements. Our curated feed covers AMSC's core segments: wind energy controls, grid resilience solutions, and naval defense systems, offering insights into technological advancements and market positioning.
Discover how AMSC's engineering expertise shapes sustainable energy infrastructure through regulatory filings, executive commentary, and operational milestones. The repository simplifies monitoring of both domestic and international developments affecting the company's growth trajectory.
Bookmark this page for streamlined access to verified information about AMSC's contributions to cleaner energy production and mission-critical power systems. Check regularly for new disclosures that could impact your analysis of this innovative technology provider.
AMSC has acquired NWL, Inc., a New Jersey-based company specializing in power supplies for industrial and military customers, for $25 million in cash and 1,297,600 restricted shares of AMSC common stock valued at approximately $31.4 million. An additional $5 million cash payment is subject to adjustments. NWL has a three-year average revenue of $55 million with operating margins approaching the teens. This acquisition aligns with AMSC's strategy to accelerate profitable growth, broaden product offerings, and expand market reach. The combined entity is expected to strengthen AMSC's position in the military power supply sector, particularly within the US Navy and Department of Defense. AMSC anticipates this acquisition will be accretive to earnings per share and accelerate its path to sustainable profitability.
AMSC, a provider of megawatt-scale power resiliency solutions, has announced the release of its first quarter fiscal year 2024 financial results on August 6, 2024, after market close. The company will host a conference call with investors and analysts on August 7, 2024, at 10:00 a.m. Eastern Time to discuss recent accomplishments, financial results, and business outlook.
Interested parties can access the live or archived webcast through the 'Investors' section of AMSC's website. The live call can be joined 15 minutes before the scheduled start by dialing 1-844-481-2802 or 1-412-317-0675. A replay will be available 2 hours after the call by dialing 1-877-344-7529 with passcode 9653245.
AMSC has received a $12 million order for 3 MW class wind turbine electrical control systems (ECS) from Inox Wind , India's premium wind turbine manufacturer. The order is expected to be shipped mostly in fiscal year 2024. This follow-on order demonstrates the growing demand in India's wind market, with Inox reporting a backlog of nearly 2.7 gigawatts of orders.
The Indian onshore wind market capacity is forecasted to add over 80 GW by 2032, reaching an installed capacity of 122 GW. AMSC's 3 MW class wind turbine design is type certified according to GL2010 onshore guidelines and can operate up to 3.3 MW under certain conditions. This order further illustrates AMSC's continued momentum in the renewable energy sector.
AMSC has secured a $75 million contract with Irving Shipbuilding for its proprietary Ship Protection Systems, intended for the Royal Canadian Navy's new Canadian Surface Combatant (CSC) ships. The contract encompasses hardware delivery, engineering support, system integration, and commissioning. This marks AMSC's first contract with an allied navy for the Ship Protection System, showcasing its technological footprint and potential for international growth. The first system delivery is slated for 2026. AMSC's systems are designed to enhance naval protection by reducing ships' magnetic signatures, thereby defending against undersea mines. The contract aligns with AMSC's strategic diversification and expansion efforts.
AMSC (Nasdaq: AMSC) reported its fourth quarter and fiscal year 2023 financial results. The company saw a significant increase in full-year revenues by 37% to $145.6 million, with a gross margin expansion of 1,620 basis points. For Q4, revenues reached $42 million, up from $31.7 million year-over-year, driven by strong performance in both Grid and Wind segments. Net loss for Q4 narrowed to $1.6 million from $6.9 million in the same period last year, while the non-GAAP net income was $1.9 million compared to a non-GAAP net loss of $7.8 million. For the full fiscal year, the net loss was $11.1 million, improved from $35 million last year. AMSC ended fiscal 2023 with $92.3 million in cash reserves. The company has provided a positive outlook for the first quarter of fiscal 2024, expecting revenues between $38 million and $42 million and a net loss not exceeding $2.2 million.
AMSC (NASDAQ: AMSC), a key provider of megawatt-scale power resiliency solutions, will release its fourth quarter and fiscal year 2023 financial results on May 29, 2024, after the market closes. The announcement includes a conference call scheduled for May 30, 2024, at 10:00 a.m. Eastern Time, where management will discuss recent accomplishments, financial results, and business outlook. Investors can access the live call by dialing provided numbers or visit AMSC's website for a webcast. A replay will be available two hours post-call.
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