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amsc AMSC Reports Third Quarter Fiscal Year 2020 Financial Results and Provides Business Outlook February 3 , 2021 Company to host conference call tomorrow , February 4 at 10:00 am ET -- AYER , Mass . , Feb. 03 , 2021 ( GLOBE NEWSWIRE ) AMSC ( Nasdaq : AMSC ) , a leading system provider of megawatt - scale power resiliency solutions that orchestrate the rhythm and harmony of power on the grid TM , and protect and expand the capability and resiliency of our Navy's fleet , today reported financial results for its third quarter of fiscal year 2020 ended December 31 , 2020 . 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 Grid segment revenues were primarily due to revenues generated from our recent acquisition of Northeast Power Systems , Inc. The higher Wind segment revenues were a result of higher shipments of electrical control systems to Inox Wind . AMSC's net loss for the third quarter of fiscal 2020 was $ 7.9 million , or $ 0.31 per share , compared to a net loss of $ 6.8 million , or $ 0.32 per share , for the same period of fiscal 2019. The Company's non - GAAP net loss for the third quarter of fiscal 2020 was $ 3.4 million , or $ 0.13 per share , compared with a non - GAAP net loss of $ 6.7 million , or $ 0.32 per share , in the same period of fiscal 2019. Please refer to the financial table below for a reconciliation of GAAP to non - GAAP results . Cash , cash equivalents , marketable securities and restricted cash on December 31 , 2020 totaled $ 84.4 million , compared with $ 57.7 million at September 30 , 2020 . " Grid is driving revenue growth for the Company , " said Daniel P. McGahn , Chairman , President and CEO , AMSC . " We generated $ 1.7 million of positive operating cash flow in the third quarter of fiscal 2020 , and ended the quarter with a strong balance sheet and an expanded portfolio of new energy power systems solutions expected to support growth . " Business Outlook 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 , or $ 0.31 per share . The Company's non - GAAP net loss ( as defined below ) is expected not to exceed $ 6.5 million , or $ 0.25 per share , excluding the impact from any changes in contingent consideration . The Company expects operating cash flow to be a burn of $ 2 million to $ 4 million in the fourth quarter of fiscal 2020. The Company expects cash , cash equivalents , marketable securities and restricted cash on March 31 , 2021 , to be no less than $ 80 million . Conference Call Reminder In conjunction with this announcement , AMSC management will participate in a conference call with investors beginning at 10:00 a.m. Eastern Time on Thursday , February 4 , 2021 , to discuss the Company's financial results and business outlook . Those who wish to listen to the live or archived conference call webcast should visit the " Investors " section of the Company's website at https://ir.amsc.com . The live call can also be accessed by dialing 866-269-4261 or 323-289-6576 and using conference ID 1666219. A replay of the call may be accessed 2 hours following the call by dialing 888-203-1112 or 719-457-0820 and using conference passcode 1666219 . About AMSC ( Nasdaq : AMSC ) AMSC generates the ideas , technologies and solutions that meet the world's demand for smarter , cleaner ... better energy ™ . Through its Gridtec ™ Solutions , AMSC provides the engineering planning services and advanced grid systems that optimize network reliability , efficiency and performance . Through its MarinetecTM Solutions , AMSC provides ship protection systems and is developing propulsion and power management solutions designed to help fleets increase system efficiencies , enhance power quality and boost operational safety . Through its Windtec ™ Solutions , AMSC provides wind turbine electronic controls and systems , designs and engineering services that reduce the cost of wind energy . The Company's solutions are enhancing the performance and reliability of power networks , increasing the operational safety of navy fleets , and powering gigawatts of renewable energy globally . Founded in 1987 , AMSC is headquartered near Boston , Massachusetts with operations in Asia , Australia , Europe and North America . For more information , please visit www.amsc.com . AMSC , American Superconductor , D - VAR , D - VAR VVO , Gridtec , Marinetec , Windtec , Smarter , Cleaner ... Better Energy , and Orchestrate the Rhythm and Harmony of Power on the Grid are trademarks or registered trademarks of American Superconductor Corporation . All other brand names , product names , trademarks or service marks belong to their respective holders . Forward - Looking Statements This press release contains forward - looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 , as amended ( the " Exchange Act " ) . Any statements in this release regarding our goals and strategies ; our expected GAAP and non - GAAP financial results for the quarter ending March 31 , 2021 , our expected cash burn during the quarter ending March 31 , 2021 , our expected cash , cash equivalents , marketable securities and restricted cash balance on March 31 , 2021 , the benefits of the NEPSI acquisition , and other statements containing the words " believes , " " anticipates , " " plans , " " expects , " " will " and similar expressions , constitute forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward - looking statements represent management's current expectations and are inherently uncertain . There are a number of important factors that could materially impact the value of our common stock or cause actual results to differ materially from those indicated by such forward - looking statements . These important factors include , but are not limited to : We have a history of operating losses , which may continue in the future . Our operating results may fluctuate significantly from quarter to quarter and may fall below expectations in any particular