|
New
Release -- Superconductor Week does not edit or endorse the following
news release:
American Superconductor Reports $9 Million
Increase in Power Electronic Systems Orders
Westborough, MA, June 5: American
Superconductor Corporation (NASDAQ:
AMSC), a leading energy technologies company, announced today in conjunction
with the RBC Capital Markets 2006 Energy Conference, that its Power Electronic
Systems business unit now has secured $9 million in new orders, which when
combined with its existing backlog, are expected to yield more than $20 million
in sales in the current fiscal year for this business unit. With $20 million in
sales, Power Electronic Systems will achieve a key corporate benchmark by
growing its revenues approximately 35 percent year over year. The business unit
is also expected to be profitable at this level of revenues. New orders received
this quarter are for D-VAR(R) and PQ-IVR(TM) power electronics-based solutions
for wind farms, electric utilities and the semiconductor manufacturing industry.
"We are pleased to announce that we have now secured sufficient orders to
accomplish our first key corporate benchmark of fiscal 2007 just two months into
the year," noted American Superconductor President and Chief Executive Officer
Greg Yurek. "Thanks to the hard work of our sales force and the proven
return-on-investment provided by our power quality and reliability solutions,
Power Electronic Systems continues to build momentum in a variety of markets
ranging from wind power to electric utilities to manufacturing operations. We
believe this business will provide AMSC with a healthy and profitable flow of
revenues for fiscal 2007 and beyond."
Return
to industry news releases |
