American Superconductor Shares Soar

DEVENS, MASS. (TheStreet) -- American Superconductor (AMSC Quote) took flight Thursday, its shares soaring more than 22%, after the company swung to a profit.

The wind-energy components maker earned $1.8 million, or 4 cents a share, in the period, compared with a loss of $6.1 million, or 14 cents a share, a year ago.

It was only American Superconductor's second time in the black in its 18-year history.

Analysts were expecting the company to break even.

Revenue soared 83% to $73 million, the compay said.

Chinese demand for wind-power components boosted the quarter's results. In fact, American Superconductor's largest customer, China's Sinovel Wind, just upped its contract by $20 million to $470 million.

Going forward, the company now expects full-year earnings between 41 cents and 47 cents a share, up from prior forecast of 27 cents to 30 cents.

Shares of the company ended trading Thursday at $32.13, up 22%, or $5.85, on volume of 7.1 million shares, nearly ten times the daily average.

-- Reported by Jeanine Poggi in New York.