- Published: 04 February 2021 04 February 2021
AMSC’s revenues for the third quarter of fiscal 2020 were $23.6 million compared with $17.9 million for the same period of fiscal 2019. The year-over-year increase was a result of higher Grid and Wind segment revenues versus the year ago period.
The higher Wind segment revenues were a result of higher shipments of electrical control systems to Inox Wind. The higher Grid segment revenues were primarily due to revenues generated from our recent acquisition of Northeast Power Systems. AMSC’s net loss for the third quarter of fiscal 2020 was $7.9 million compared to a net loss of $6.8 million for the same period of fiscal 2019.
For the fourth quarter ending March 31, 2021, AMSC expects that its revenues will be in the range of $18 million to $22 million. The Company’s net loss for the fourth quarter of fiscal 2020 is expected not to exceed $8.0 million.