American Superconductor acquires Northeast Power Systems | AMSC Message Board Posts


American Superconductor Corporation

  AMSC website

AMSC   /  Message Board  /  Read Message

 

 






Keyword
Subject
Between
and
Rec'd By
Authored By
Minimum Recs
  
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board
Msg  184 of 187  at  10/8/2020 7:55:25 AM  by

jerrykrause


American Superconductor acquires Northeast Power Systems

 from SNL Energy Finance Daily
 

American Superconductor acquires Northeast Power Systems

 
Byline: Nephele Kirong
 
 

American Superconductor Corp. acquired Northeast Power Systems Inc. for $26 million in cash, plus 873,657 American Superconductor common shares.

New York-based Northeast Power Systems supplies medium voltage, metal-enclosed capacitor banks; harmonic filters; fast switching reactive power solutions; and surge protection products, according to an Oct. 5 news release.

"The addition of [Northeast Power Systems] to [American Superconductor's] Grid solutions is expected to accelerate our ability to achieve our goal of profitability and expand our offering of proprietary power electronics products in the industrial sector," said American Superconductor President and CEO Daniel McGahn.

The company aims to accelerate profitable growth independent of its wind business.

Also, American Superconductor said it expects its revenues in the second quarter of fiscal 2020 to be in the range of $20.5 million to $21.5 million, compared with the previous guidance of $17 million to $21 million.

The company also expect net loss and non-GAAP net loss for the fiscal second quarter to be lower than the previous guidance provided.

 


     e-mail to a friend      printer-friendly     add to library      
| More
Recs: 0     Views: 27
Previous Message  Next Message   Post Message   Post a Reply return to message boardtop of board


Financial Market Data provided by
.
Loading...