Business
AMSC Reports Fourth Quarter and Fiscal Year 2024 Financial Results and Business Outlook
Business Highlights: • Full year revenues increased 53% year over year to $222.8 million • Full year net income increased $17.1 million year over year to $6.0
About this update from American Superconductor Corporation
[{"type":"text","content":"Business Highlights: • Full year revenues increased 53% year over year to $222.8 million • Full year net income increased $17.1 million year over year to $6.0 million • Generated $6.3 million of operating cash flow in the fourth quarter, helping to further strengthen the balance sheet Company to host conference call tomorrow, May 22 at 10:00 am ET AYER, Mass., May 21, 2025 (GLOBE NEWSWIRE) -- AMSC (Nasdaq: AMSC), a leading system provider of megawatt-scale power resiliency solutions that orchestrate the rhythm and harmony of power on the grid™ and that protect and expand the capability and resiliency of our Navy’s fleet, today reported financial results for its fourth quarter and fiscal year ended March 31, 2025 (\"fiscal 2024\"). Revenues for the fourth quarter of fiscal 2024 were $66.7 million compared with $42.0 million for the same period of fiscal 2023. The year-over-year increase was driven by organic growth in New Energy Power Systems revenues along with the contributions from the acquisition of NWL, Inc. AMSC’s net income for the fourth quarter of fiscal 2024 was $1.2 million, or $0.03 per share, compared to net loss of $1.6 million, or $0.05 per share, for the same period of fiscal 2023. The Company’s non-GAAP net income for the fourth quarter of fiscal 2024 was $4.8 million, or $0.13 per share, compared with a non-GAAP net income of $1.9 million, or $0.06 per share, in the same period of fiscal 2023. Please refer to the financial table below for a reconciliation of GAAP to non-GAAP results. Revenues for fiscal 2024 were $222.8 million as compared to $145.6 million in fiscal 2023. The year-over-year increase was driven by higher D-VAR and NEPSI revenues than in the prior year period along with the contribution from the acquisition of NWL, Inc. AMSC reported net income for fiscal 2024 of $6.0 million, or $0.16 per share, compared to a net loss of $11.1 million, or $0.37 per share in fiscal 2023. The Company's non-GAAP net income for fiscal 2024 was $24.0 million, or $0.65 per share, compared with non-GAAP net income of $0.6 million, or $0.02 per share, for fiscal 2023. Please refer to the financial table below for a reconciliation of GAAP to non-GAAP results. Cash, cash equivalents and restricted cash on March 31, 2025 totaled $85.4 million. \"AMSC reported its strongest quarterly and annual performance in years,\" said ...