AMSC: Q1 2015 Results
Die untenstehende Meldung ist eine Original-Meldung des Unternehmens. Sie ist nicht von der ECOreporter.de-Redaktion bearbeitet. Die presserechtliche Verantwortlichkeit liegt bei dem meldenden Unternehmen.
DEVENS, Mass. - AMSC (NASDAQ:AMSC), a global solutions provider serving wind and power grid industry leaders, reported financial results for its first quarter of fiscal 2015 ended June 30, 2015.
Revenues for the first quarter of fiscal 2015 were $23.7 million, compared with $11.7 million for the same period of fiscal 2014. The year over year increase in revenues was due to increases in both the Company's Wind and Grid segments.
AMSC's net loss for the first quarter of fiscal 2015 decreased to $9.1 million, or $0.75 per share, from $13.5 million, or $1.74 per share, for the same period of fiscal 2014.
The Company's non-GAAP net loss for the first quarter of fiscal 2015 was $8.7 million, or $0.72 per share, compared with a non-GAAP net loss of $11.9 million, or $1.53 per share, in the same period of fiscal 2014. Please refer to the financial table below for a reconciliation of GAAP to non-GAAP results.
Cash, cash equivalents, and restricted cash at June 30, 2015 totaled $42.6 million, compared with $24.5 million at March 31, 2015. The increase is due primarily to proceeds received from an equity offering undertaken by the Company during the first fiscal quarter of 2015.
"In the first fiscal quarter, we demonstrated financial progress, more than doubling revenues year over year and significantly improving gross margins," said Daniel P. McGahn, President and CEO, AMSC. "We started off the fiscal year by announcing that Eversource Energy, the electric utility in Boston, MA, is conducting a deployment study of the REG system, $9 million in D-VAR® system orders, and a contract from the U.S. Navy for ship protection equipment. In the second fiscal quarter, we continued to develop our REG pipeline, as demonstrated by our announcement that Pepco, the electric utility in Washington DC, is undertaking a deployment study of the REG system."
For the second quarter ending September 30, 2015, AMSC expects that its revenues will be in the range of $18 million to $20 million. The Company's net loss for the second quarter of fiscal 2015 is expected to be less than $8.5 million, or $0.62 per share. AMSC expects that its non-GAAP net loss (as defined below) for the second quarter of fiscal 2015 will be less than $9.0 million, or $0.65 per share.
About AMSC (AMSC)
AMSC generates the ideas, technologies and solutions that meet the world's demand for smarter, cleaner ... better energy(TM). Through its Windtec(TM) Solutions, AMSC provides wind turbine electronic controls and systems, designs and engineering services that reduce the cost of wind energy. Through its Gridtec(TM) Solutions, AMSC provides the engineering planning services and advanced grid systems that optimize network reliability, efficiency and performance. The Company's solutions are now powering gigawatts of renewable energy globally and are enhancing the performance and reliability of power networks in more than a dozen countries. Founded in 1987, AMSC is headquartered near Boston, Massachusetts with operations in Asia, Australia, Europe and North America. For more information, please visit www.amsc.com.