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American Superconductor's CEO Discusses Q2 2011 Results - Earnings Call Transcript

These forward-looking statements represent the company’s expectations only as of today and should not be relied upon as representing the company’s views as of any subsequent date. While AMSC anticipates that subsequent events and developments may cause the company's views to change, the company specifically disclaims any obligation to update these forward-looking statements.

I also would like to note that we'll be referring on today's call to non-GAAP net income or net income before amortization of acquisition-related intangibles, restructuring and impairments, stock-based compensation, other unusual charges and any tax effects related to those items. Non-GAAP net income is a non-GAAP financial metric, a reconciliation of non-GAAP to GAAP net income can be found in the press release we issued and filed with the SEC this morning on Form 8-K.

All of our press releases and SEC filings can be accessed from the Investors Page of our website at amsc.com.

And finally, I'd like to note that we'll be participating in the Baird 2011 Clean Technology Conference on November 30. Our presentation from this conference will be webcast. More details on this will follow.

Now, CEO Dan McGahn will begin our quarterly review. Dan?

Daniel Patrick McGahn

Thank you, Jason, and good morning, everyone. When we last spoke to you in September, we described the actions we were taking to return AMSC to growth and create a sustainably profitable company. We described how we were aligning the business more strongly with our core wind and grid markets and how we are highlighting the value proposition for our Windtec and Gridtec Solutions. We detailed how we are prioritizing our strategic investments and business development efforts. We talked about the cost reduction efforts we have underway and the new policies and financial controls we have put in place. We discussed how we are flattening the organization to establish better collaboration and clarity of responsibilities. We provided a sense of direction on where we're headed financially. And we discussed the actions we have begun to take with respect to our former customer, Sinovel. Today, we'll update you on these areas, but let me give you a quick summary before turning the call over to Dave to discuss the financials.

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