AMSC has reported its financial results for its second quarter of fiscal year 2012 ended September 30, 2012. Revenues for the second quarter of fiscal 2012 were US$ 20.9 million, which compares with US$ 20.8 million for the second quarter of fiscal 2011.
AMSC increased revenues from its Grid business segment by approximately 20 per cent while revenues from the company's Wind segment declined by approximately 10 per cent year over year. For the second quarter of fiscal 2012, AMSC reported a net loss of US$ 15.9 million. For the second quarter of fiscal 2011, AMSC's net loss was US$ 51.7 million. This figure included approximately US$ 28.2 million in charges related to the termination of a proposed acquisition, litigation expenses against Sinovel Wind Group Co., Ltd. and corporate restructuring activities and impairments. For the third fiscal quarter ending December 31, 2012, AMSC expects that its revenues will exceed US$ 26 million. AMSC expects that its net loss for the quarter will be less than US$ 19 million.
AMSC increased revenues from its Grid business segment by approximately 20 per cent while revenues from the company's Wind segment declined by approximately 10 per cent year over year. For the second quarter of fiscal 2012, AMSC reported a net loss of US$ 15.9 million. For the second quarter of fiscal 2011, AMSC's net loss was US$ 51.7 million. This figure included approximately US$ 28.2 million in charges related to the termination of a proposed acquisition, litigation expenses against Sinovel Wind Group Co., Ltd. and corporate restructuring activities and impairments. For the third fiscal quarter ending December 31, 2012, AMSC expects that its revenues will exceed US$ 26 million. AMSC expects that its net loss for the quarter will be less than US$ 19 million.
