AMSC posts first profitable quarter - Boston Business Journal:

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The Devens, Mass., maker of power-system components and wind turbinddesigns (Nasdaq: AMSC) posted net income of $1.3 million, or 4 centsa per share, in the quarter endefd March 31, compared with a net loss of $1.8 or 9 cents per in the same quarter a year ago. Totalo revenue grew 60 percent year-over-year to $61.2 All of the company’s revenue growth came from its power-systems division, which includes wind turbine licensing revenue and sales ofits voltage-regulatioj systems for wind farms and other grid systems. Revenue in the divisiob grew 70 percentto $58.2 million. Revenue from the company’s high temperature superconductor wires fell 26 percenfto $3.0 million.
Analysts expected earningd of a penny per share on revenuerof $57.9 million. For its fiscal year enderd March 31, AMSC reported revenuw growth of 62 percentto $182.i8 million. It narrowed its net loss to $16.5 million from $25.34 million a year ago. “AMSC posted its strongesyt financial performance to date in the fourthg quarter offiscal 2008,” said Greg Yurek, AMSC’s foundedr and CEO, in a “We are now sharplg focused on delivering profitabled growth and net cash flow positive results for full year fiscal 2009 as we continue to make the investmentes that will enhance our long-term growth prospects.
” Company officials expect revenue of $225 millionj to $235 million and net income of $200,00o0 to $1.5 million for the current fiscal AMSC’s stock price rose 61 cents to $25.0 a share in morning trading.