AMSC cuts quarterly loss, upbeat on future wind sales

AMSC narrowed its quarterly loss as wind-power electronics and controls sales declined, while remaining confident that it will prevail with litigation in China against its former largest customer, Sinovel.

Fiscal second quarter loss was $15.9m, or 31 cents a share, versus $51.7m, or $1.02 a share. “It’s a substantial improvement,” chief executive Dan McGahn said on a conference call. Revenue was $20.86m with $12m coming from wind, a tick above $20.8m a year earlier when wind contributed $13.4m.

Fiscal first half loss through 30 September was $26.2m versus $89.3m in 2011. Revenue was $49.5m with $28.51 from wind against $29.85m a year earlier when wind accounted for $17.7m.

AMSC continues to be embroiled in a series of legal cases involving Sinovel, which…

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