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AMSC Reports Fourth Quarter and Fiscal Year 2024 Financial Results and Business Outlook
Globenewswire· 2025-05-21 20:15
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% increase from $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% from $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].
AMSC to Report Fourth Quarter and Fiscal Year 2024 Financial Results on May 21, 2025
Globenewswire· 2025-05-15 20:05
Core Viewpoint - AMSC plans to release its fourth quarter and fiscal year 2024 financial results on May 21, 2025, followed by a conference call on May 22, 2025, to discuss recent accomplishments, financial results, and business outlook [1]. Group 1 - AMSC is a leading provider of megawatt-scale power resiliency solutions, focusing on optimizing power grid performance and enhancing the capabilities of the Navy's fleet [1][3]. - The company offers various solutions, including Gridtec™ for grid reliability, Marinetec™ for naval protection systems, and Windtec® for wind energy cost reduction [3]. - AMSC has a global presence with operations in Asia, Australia, Europe, and North America, and aims to meet the demand for smarter and cleaner energy [3]. Group 2 - Investors can access the live conference call by dialing specific numbers or through the company's website, with a replay available shortly after the call [2]. - The company was founded in 1987 and is headquartered near Boston, Massachusetts [3].