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Energy

American Superconductor Secures Over 2-Years Worth of Orders (AMSC)

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By Douglas A. McIntyre Published
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American Superconductor Corp. (NASDAQ: AMSC) announced this morning that it has received a $450 million follow-on order from China’s Sinovel Wind Corp. Ltd. for core electrical components.  The components will be used for 1.5 megawatt (MW) wind turbines in shipments scheduled to begin in January 2009 and increase in amount each year through the contract completion date in December 2011.  As far as how this compares in size, the company generated $52.18 million in fiscal March 2007 and $96.8 million in fiscal March 2008.  Back in may it had $199 million in backlog and gave guidance for the fiscal year March 2009 ahead in a range of $165 to $175 million.

American Superconductor closed at $36.08 yesterday and shares are indicated up almost $1.00 with almost no volume having traded hands with 1 hour and 40 minutes to the open.  It trades about 818,000 per day and its market cap is $1.5 Billion with a 52-week trading range of $15.51 to $39.50.

Jon C. Ogg
June 10, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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