November 19, 2009
AMSC Predicts Continued Growth, Profitability
By Matthew L. Brown
Devens-based American Superconductor Corp. said that it expects revenues to grow to more than $400 million in its 2010 fiscal year.
The company said it will finish 2009 with revenue between $300 million and $310 million, a 10 percent increase over 2008, when it brought in $183 million.
To go along with the revenue growth, AMSC is also predicting continued profitability and expects to report net income between $27 million and $29 million this year. For 2010, the company is predicting a profit of more than $54 million.
The manufacturer of high-temperature superconductor cable and wind turbine components said its backlog for 2010 is currently at $300 million.
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