Tags: ASIAX | BNALL | BNSTAFF | BNTEAMS | BOSTOP | BOSTOPZ2 | BRIC

American Superconductor Surges on Higher Sales, Income Guidance

Nov. 2 (Bloomberg) -- American Superconductor Corp., a maker of wind turbine components and transmission lines, jumped the most in more than five months after management raised its forecast for the year ending March 31.

American Superconductor rose $2.39, or 7.4 percent, to $34.89 as of 12:25 p.m. in Nasdaq Stock Market composite trading. The shares, which earlier reached $35.43 for the biggest gain since May 17, have declined 15 percent this year.

Revenue for fiscal 2010 will be $430 million to $440 million, up from an earlier forecast of $420 million to $430 million, the Devens, Massachusetts-based company said today in a statement. Net income may more than double to 95 cents to $1 a share, the manufacturer said.

Before today, the company was expected to earn 89 cents on sales of $430 million, the average estimates of 12 analysts compiled by Bloomberg.

--Editors: Todd White, Alex Devine

To contact the reporter on this story: Christopher Martin in New York at cmartin11@bloomberg.net.

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

© Copyright 2015 Bloomberg News. All rights reserved.

1Like our page
2Share
InvestingAnalysis
Nov. 2 (Bloomberg) -- American Superconductor Corp., a maker of wind turbine components and transmission lines, jumped the most in more than five months after management raised its forecast for the year ending March 31. American Superconductor rose $2.39, or 7.4 percent, to...
ASIAX,BNALL,BNSTAFF,BNTEAMS,BOSTOP,BOSTOPZ2,BRIC,BUSINESS,CACT,CHINA,CMD,CMDME,COEVNT,CORPFIN,COS,ELE,ELQ,EM,ENV,ENVTOP,ERN,EST,EUNRGIND,EUROPEME,EUROSTORY,FINNEWS,MA,MARKETS,MNA,MOV,MSCIEMAS,MSCINAMER,MSCIWORLD,NASIA,NEWSWORD07,NORTHAM,NRG,ONWEB,ORIGINAL,RNRG,SEM,SMALLCAP,SOLAR,SPREGIONS,STFILT241,STFILT266,STFILT268,STK,TEC,US,USNE,WARN,WIND
175
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved