American Superconductor reported its 2007 Q2 financial results, with revenues dropping to $9.6 million from $10.9 million recorded in the same quarter last year. The company, however, did note growth in new orders and contracts placed.
The Westboro-based company’s net loss for Q2 2007 was $7.0 million, or $0.21 per share. In the same quarter of the previous fiscal year, losses were $6.8 million, or $0.21 per share. Revenues for the first six months of fiscal 2007 were $23.6 million, and the company’s net loss was $13.7 million. Fiscal 2007 revenue was a slight increase from fiscal 2006, when revenues for the first six months were recorded at $23.1 million, but fiscal 2007 losses rose from $12.4 million in fiscal year ’06 to $13.7 million.
AMSC did note $15.8 million in new orders and contracts during Q2 of fiscal 2007, and $44 million within the first six months ended September 30, 2006. Fiscal 2007 orders climbed from $5.2 million and $7.6 million booked during the three and six months ended Sept. 30, 2005.
A conference call discussing the results and the company’s business outlook will be available on AMSC’s website under the “Investors” section of the website.
