- Published: 29 May 2017 29 May 2017
Revenues for the fourth quarter of fiscal 2016 were US$ 16.2 million, compared with US$ 27.5 million for the same period of fiscal 2015. The year-over-year decrease was largely due to lower Wind segment revenues, primarily due to lower than expected shipments of electric control systems to Inox during the fourth quarter of fiscal 2016.
AMSC's net loss for the fourth quarter of fiscal 2016 increased to US$ 6.9 million from US$ 3.4 million for the same period of fiscal 2015. Revenues for the full fiscal year 2016 were US$ 75.2 million as compared to US$ 96.0 million in fiscal year 2015. AMSC reported a net loss for fiscal 2016 of US$ 27.4 million compared to a net loss of US$ 23.1 million in fiscal 2015. For the first quarter ending June 30, 2017, AMSC currently expects that its revenues will be in the range of US$ 8 million to US$ 9 million, taking into account anticipated seasonally lower ECS shipments to Inox as well as the temporary demand dislocation. The company's net loss for the first quarter of fiscal 2017 is expected to be less than US$ 18.0 million.