Asian policies cause AMSC angst

AMSC said Chinese grid issues are hampering recovery

AMSC said Chinese grid issues are hampering recovery

US wind power technology group AMSC narrowed its loss in its most recent financial quarter – but said “governmental factors” in Asia and Australia could hinder its full-year revenue target.

AMSC’s net loss for the July to September period – its financial second quarter – was $14.6m, compared to a deficit of $15.9m in the same three months of 2012.

Quarterly revenues grew $3.3m to $24.2m, with both the Wind and Grid divisions managing an increase.

Daniel McGahn, AMSC’s CEO, said: "We grew revenues by 16% year over year, improved gross margins nearly threefold and reduced our non-GAAP net loss by more than 30%.

“We continue to be focused on achieving our target of positive net cash flows on a quarterly basis Log in to read complete article.

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