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American Superconductor's CEO Discusses Q3 2011 Results - Earnings Call Transcript

Stocks in this article: AMSC

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 date subsequent to today. 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'd also 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, Sinovel litigation fees and other unusual charges and 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.

I'd also like to note that we'll be taking part in the Jefferies Clean Technology Conference on February 22, and the Raymond James Institutional Investors Conference on the 7th of March. Our presentations from the Jefferies conference will be webcast. More details on this will be issued soon. And now, CEO Dan McGahn will begin our quarterly review. Dan?

Daniel Patrick McGahn

Thank you, Jason, and welcome to the call, everyone. I'm very happy to be reporting back to you on a successful quarter at AMSC. We exceeded each of our financial targets in the third quarter, which ended on December 31. We said we would generate more than $15 million in revenue, and we generated about $18 million. We said that we expected our GAAP net loss to be less than $30 million, and we met this target despite the fact that our guidance did not account for more than $4 million in restructuring and impairment charges for the quarter. We said we expect that our non-GAAP net loss to be less than $24 million, and we came in with less than $18 million.

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