American Superconductor (AMSC) Sinks 14% On Disappointing Results and Mixed Guidance

August 5, 2008 11:09 AM EDT

Shares of American Superconductor (Nasdaq: AMSC) are down 14% this morning following disappointing Q2 results and mixed guidance.

American Superconductor reported a Q2 loss of $0.15, which may note compare to the analyst estimate of a $0.06 loss. Revenues for the quarter were $39.8 million, versus the consensus of $40.8 million.

American Superconductor raised FY08 revenue view by $10M to a range of $175M-$185M, versus the consensus of $176.16M. The increase in revenue will also drive  EBITDAS higher, to a range of $7-$10 million, up from $3-$7 million.

American Superconductor said due to the increase in their stock valuation during Q1 and the resulting increase in non-cash charges associated with stock compensation, the company is increasing its loss guidance to $0.30 to $0.35 per share compared to previous guidance of a loss $0.21 to $0.28. The consensus is for a loss of $0.21.

Even with today's drop, shares of AMSC are up 65% over the last year. Citron Research has been negative on the company.

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