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No. of Recommendations: 2
Kevin Douglas keeps loading up. Earnings out after market close.

X-post at the AMSC board:

http://boards.fool.com/kevin-douglas-buys-more-amsc-30536037...

Denny Schlesinger
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No. of Recommendations: 2
AMSC is turning around but like one of those Cape tankers, very slowly!

Gross profit went from negative to positive for the quarter and for year to date which is an important milestone in any turnaround. The miss this quarter was a delay in revenue recognition in the wind sector. The guidance looks fairly good with a 25% revenue growth expectancy for 2013.

The 3Q earnings report:

http://finance.yahoo.com/news/amsc-reports-third-quarter-fin...

Denny Schlesinger
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No. of Recommendations: 3
Gross profit went from -$1 million to +$1 million, which is some consolation, but then lower down the earnings sheet there's still $4 mn in R&D (down from $6 mn last year) and $11 mn in SGA (down from $15 mn last year), for a net loss of $20 mn. For one quarter! So they have a long way to go before they can break even, when you consider their total revenues from the quarter were only $17 mn. In other words, they have $17 mn in revenues, and $37 mn in expenses.

With $42 mn cash on the balance sheet, they'd better turn this tanker around pretty quickly, because it looks to me like they run out of cash in about 6 months, 12 months max. Is there some more revenue on the horizon, at least? Because if the company hits its 25% growth target for 2013, that extra $4-5 million per quarter is not going to be enough, even if they can do it with no additional expenses.

Regards DTM
(closed my short at $11, feeling stupid about it)
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