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Technology Stocks : American Superconductor (AMSC)
AMSC 38.87+6.3%Nov 7 9:30 AM EST
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To: David C. Burns who wrote (625)5/10/2008 12:57:50 PM
From: Peter V   of 973
 
American Superconductor 4Q profit jumps on higher sales

Thursday May 8, 10:09 am ET

American Superconductor 4th-quarter profit jumps on higher wind and electrical utility sales

DEVENS, Mass. (AP) -- Energy equipment supplier American Superconductor Corp. said Thursday its fourth-quarter loss narrowed 84 percent on wind power and electric utility sales.

Net loss dropped to $1.8 million or 4 cents per share from $11.4 million or 33 cents per share in 2007.

Sales more than doubled to $38.4 million from $19.1 million.

Analysts polled by Thomson Financial expected a loss of 11 cents per share on sales of $34.8 million.

Analysts typically exclude one-time items, which in this quarter included $3.6 million in restructuring charges related to business consolidation in Massachusetts.

Chief Executive Greg Yurek said in a statement that the company's strong revenues came from commercial sales in the wind power and electric utility markets.

For the 2008 fiscal year, the company's loss also narrowed on higher sales.

It lost $25.5 million or 65 cents per share, down from $34.7 million or $1.04 per share in fiscal 2007.

Sales jumped to $112.4 million from $52.2 million.

Shares in the Devens, Mass.-based company rose 20.6 percent to $29.74.
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