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AMSC Announces Initial Fiscal Year 2010 Revenue and Earnings Forecasts

Posted by Dana in November 21st 2009

* Fiscal 2009 Forecasts Reaffirmed
* Fiscal 2010 Revenues Expected to Exceed $400 Million
* Fiscal 2010 Non-GAAP EPS Expected to Grow Over 80 Percent to More Than $1.15

American Superconductor Corporation (NASDAQ: AMSC), a global power technologies company, affirmed financial forecasts for its fiscal year 2009 and provided its initial outlook for fiscal 2010 at the company’s Analysts’ Day.

The company reaffirmed that it expects revenues will grow more than 60 percent to a range of $300 million to $310 million in its fiscal 2009 compared to approximately $183 million in fiscal 2008. The company maintained its guidance for GAAP net income of $11 million to $13 million, or $0.24 to $0.29 per diluted share, for fiscal 2009. On a non-GAAP basis, the company continues to expect net income of $27 million to $29 million, or $0.59 to $0.64 per diluted share, for full year fiscal 2009.

For fiscal 2010, the company expects to grow revenues to more than $400 million. The company also expects to generate GAAP net income of more than $36 million, or more than $0.77 per diluted share, and a non-GAAP profit of more than $54 million, or more than $1.15 per diluted share, for fiscal 2010.