American Superconductor predicts flat earnings
American Superconductor Corp. said its loss for fiscal year 2007 would not be much of an improvement from its 2006 results.
The company, which makes high-power electric motors and high-temperature superconductor wire, reaffirmed its guidance for the fiscal year, saying it would post a loss for 2007 between 87 cents per share and 96 cents per share. The company also said its revenues would be between $50 million and $52 million.
In fiscal 2006, the company reported a loss of 94 cents per share.
The company said it expected to improve in 2008 because of higher demand for wind energy solutions. The company also said orders from utilities may gain momentum in the next year.
In related news today, the American Superconductor reported a fiscal third-quarter loss of 29 cents per share, in line with the Wall Street Consensus. (AP)
