February 1, 2011
AMSC Revenues Up 40 Percent
By Brandon Butler
American Superconductor, the Devens-based wind turbine manufacturer, generated a $16 million profit on revenues of $114.2 million during the third quarter.
Revenues for the company grew by 42 percent year over year while profits almost tripled from $5.2 million.
The company's cash holdings increased to $260.5 million from $131.2 million last year. AMSC also has $883 million in back orders.
The company expects to end the fiscal year with $440 million in revenues and it increased profit expectations from $44 million to $46.5 million.
The company's CEO, Greg Yurek, has been named the 2011 Worcester Business Journal Big Business Leader of the Year.
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