AMSC Reports $4.1M Net Loss
Devens-based American Superconductor Corp. nearly doubled its revenue but nevertheless reported a second quarter net loss of $4.1 million and a $3.8 million operating loss.
For the same quarter a year ago, the company reported a net loss of $6.7 million and an operating loss of $7.2 million.
The company said its revenue increased from $21.6 million in the second quarter a year ago to $40.4 million this year.
Driven by research and development, selling, administration and other general expenses, the company's operating costs increased to $14.5 million from $12.8 million in the second quarter of 2007.
The company said its backlog at the end of the quarter was $597 million compared to $634 million in June and $180 million in September of 2007.
The company makes high-temperature wire for a variety of industries.
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