American Superconductor Gets Stiffed By Big Chinese Customer, Stock Hammered

Shares of American Superconductor are plunging today following the company's warning that fourth quarter results would be less than previously forecast after the company's main customer, Sinovel Wind, refused March shipments of wind turbine components.

American Superconductor ( AMSC - news - people ) said it believes Sinovel refused the shipments so it could reduce inventory.

As a result, AMSC said total revenues in the fourth fiscal quarter will be less that $42 million, resulting in a net loss on a GAAP and an adjusted basis.

Read Full Article from Forbes

- Posted: 2011-04-06 12:23:36

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