American Superconductor beats by $0.28, misses on revs; guides Q2 EPS below consensus, revs below consensus
- Reports Q1 (Jun) loss of $0.64 per share, excluding non-recurring items,$0.28 better than the Capital IQ Consensus of ($0.92); revenues fell 43.9% year/year to $13.3 mln vs the $13.52 mln Capital IQ Consensus.
- The year over year decrease in revenues was largely due to lower Wind segment revenues during the first quarter of fiscal 2016.
- 43% of total company revenue came from its Wind segment, while 57% came from its Grid segment.
- Co issues downside guidance for Q2, sees EPS of less than ($0.88) vs. ($0.53) Capital IQ Consensus Estimate; sees Q2 revs of $16-18 mln vs. $22.63 mln Capital IQ Consensus Estimate.