American Superconductor sees bigger profit in '10

AP News
Posted: Nov 19, 2009 7:44 AM

American Superconductor Corp. reaffirmed its full-year outlook Thursday and said it expects its profit to double next fiscal year.

The earnings forecast for fiscal 2010 is ahead of Wall Street expectations.

American Superconductor, which makes equipment for power generators and utilities and reported its first quarterly profit in company history this year, said it expects to drive earnings with greater productivity and lower manufacturing costs.

For fiscal 2009, which ends in March 2010, American Superconductor predicts profit of 24 cents to 29 cents per share and revenue of $300 million to $310 million. Excluding unusual items, the company expects to report net income of 59 cents to 64 cents per share.

On average, analysts polled by Thomson Reuters expect profit of 62 cents per share on sales of $307.8 million. Analysts typically exclude one-time items from their forecasts.

For fiscal 2010, the company expects profit of 77 cents per share and more than $400 million in revenue. It predicts adjusted profit of $1.15 per share.

Analysts forecast profit of $1.04 per share on $406.8 million in revenue.