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AMSC posts strong Q1, raises full-year outlook

Thu, 07/29/2010 - 6:28am
Reuters

(Reuters) - American Superconductor Corp, which makes electrical systems for wind farms and turbines, posted better-than-expected quarterly results and raised its full-year outlook as its key customers expand capacity.

The company said the bulk of its sales are expected to continue to be to Asian wind turbine manufacturers who are building out capacity to meet increased domestic demand and preparing to export to Western markets.

AMSC, one of the world's largest makers of electrical systems used in wind power generation, said backlog in the first quarter rose 62 percent sequentially to $952 million, driven by a $445 million order from China's Sinovel Wind Group Co Ltd.

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