AMSC Reports Fourth Quarter and Fiscal Year 2024 Financial Results and Business Outlook

Core Insights - AMSC reported strong financial results for the fourth quarter and fiscal year ended March 31, 2025, highlighting significant revenue growth and a return to profitability [1][6]. Financial Performance - Revenues for the fourth quarter of fiscal 2024 were $66.7 million, a 59$42.0 million in the same period of fiscal 2023, driven by organic growth in New Energy Power Systems and contributions from the acquisition of NWL, Inc. [2] - For fiscal 2024, total revenues reached $222.8 million, up 53$145.6 million in fiscal 2023, attributed to higher D-VAR and NEPSI revenues along with NWL's contributions [4][9]. - AMSC's net income for the fourth quarter was $1.2 million, or$0.03 per share, compared to a net loss of $1.6 million, or$0.05 per share, in the same quarter of fiscal 2023 [3]. - The company's net income for fiscal 2024 was $6.0 million, or$0.16 per share, a significant recovery from a net loss of $11.1 million, or$0.37 per share, in fiscal 2023 [5]. Operational Highlights - AMSC achieved its strongest quarterly and annual performance in years, with net income surpassing $1.2 million for the fourth quarter, marking the third consecutive quarter of profitability and the seventh consecutive quarter of positive operating cash flow [6]. - The company secured$75 million in new orders, bringing total year-end orders to a record of nearly $320 million, indicating a resilient and diversified order pipeline [6]. Business Outlook - For the first quarter ending June 30, 2025, AMSC expects revenues to be in the range of$64.0 million to $68.0 million, with net income anticipated to exceed$1.0 million, or $0.03 per share [7]. - The company's non-GAAP net income for the first quarter is expected to exceed$4.0 million, or $0.10 per share [7]. Cash Position - As of March 31, 2025, AMSC reported cash, cash equivalents, and restricted cash totaling$85.4 million, reflecting a solid balance sheet [5].