I'm starting to think that this is one of those stocks that always seem overpriced.
I passed on Berkshire Hathaway the first time it was shown to me, at $800/share.
As one of my mentors used to say, "Stocks are smarter than analysts (fund managers,etc.).
American Superconductor Corp (AMSC), which makes electrical systems for wind farms and turbines, posted better-than-expected quarterly results, helped by strong bookings, and raised its full-year outlook, sending its shares up 14 percent.From Tech Trader Daily:
For the full year, the company now sees earnings of 59 cents to 64 cents a share, excluding items, up from its prior forecast of 41 cents to 47 cents a share.
American Superconductor, which also offers smart grid infrastructure technologies, forecast full-year revenue of $300 million to $310 million, up from its previous view of $260 million to $270 million.
It is positioned for strong growth in the second half of the fiscal year, the company said in a statement.
"We expect to increase revenues quarter over quarter through the remainder of fiscal 2009," Chief Financial Officer David Henry said in a statement.
The China wind industry is the key driver of American Superconductor's growth.
The company makes superconductor power cable systems that reduce transmission losses by a great extent and can be used in smart grids -- which aim to make existing power grids more efficient....
...Revenue for the energy technology firm, whose key customer is China's Sinovel Wind, rose 85 percent to $74.7 million.Sinovel Wind, which started manufacturing wind turbines less than four years ago, is China's largest wind turbine maker and one of the top 10 in the world, and accounts for nearly 70 percent of the company's revenue....MORE
American Superconductor (AMSC) shares are sharply higher this morning after the company posted strong results for its fiscal second quarter ended September, and raises its outlook for the full year ending March 2010.
For the quarter, AMSC posted revenue of $74.7 million, up from $40.1 million a year ago, and ahead of the Street at $69 million. Gross margin expanded to 38.9% from 26.5% a year ago; non-GAAP profits of 19 cents a share were well ahead of the Street consensus at 16 cents....MORE
From the Boston Business Journal
AMSC ups guidance after solid quarter
American Superconductor Corp. posted a 85 percent year-over-year rise in revenue and swung to a profit in its fiscal second quarter on fresh contracts with Asian wind turbine makers. The company also raised expectations for its fiscal year revenue and profit.
The Devens, Mass., producer of alternative energy electrical components and wind turbine designs (Nasdaq: AMSC) reported revenue of $74.7 million in the quarter ended Sept. 30, compared with $40.4 million in the same quarter last year. Power system revenue more than doubled to $71.8 million from $35.6 million a year ago, while revenue from sales of superconductor wires fell to $2.9 million from $4.8 million last year.
AMSC swung to a net profit of $4.3 million, compared with a net loss of $4.1 million a year ago.
In a statement, AMSC chief financial officer David Henry said next quarter’s profit will be about half of the most recent quarter’s profit due to shipments of lower-margin products and a planned bump in operating expenses “to support future growth.”>>>MORE