In late pre-market trade the stock is up $1.97 at $29.24.
American Superconductor Q3 Profit Surges - Quick Facts
The stock is still trading below the $35.50 follow-on offering done last November.American Superconductor Corp. (AMSC: News ) reported net income of $16 million or $0.33 per share for the third quarter, up from year-ago quarter's $5.18 million or $0.11 per share.On average, 13 analysts polled by Thomson Reuters expected the company to earn $0.33 per share for the third quarter. Analysts' estimates typically exclude special items.
Quarterly revenues climbed to $114.19 million from $80.66 million in the prior year. Analysts anticipated revenues of $113.49 million for the quarter.
Looking forward to fiscal 2010, the company increased its net income forecast to a range of $48 million to $50 million, or $0.99 to $1.04 per share, from the range of $44 million to $46.5 million, or $0.95 to $1 per share expected earlier....MORE