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amsc AMSC Reports Fourth Quarter and Full Fiscal Year 2020 Financial Results and Provides Business Outlook June 2 , 2021 Company to host conference call tomorrow , June 3 at 10:00 am ET -- AYER , Mass . , June 02 , 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 that protect and expand the capability and resiliency of our Navy's fleet , today reported financial results for its fourth quarter and fiscal year ended March 31 , 2021 ( " fiscal 2020 " ) . Revenues for the fourth quarter of fiscal 2020 were $ 21.2 million compared with $ 18.1 million for the same period of fiscal 2019. The year - over - year increase was driven by higher Grid segment revenues . AMSC's net loss for the fourth quarter of fiscal 2020 was $ 7.6 million , or $ 0.29 per share , compared to net loss of $ 5.9 million , or $ 0.27 per share , for the same period of fiscal 2019. The Company's non - GAAP net loss for the fourth quarter of fiscal 2020 was $ 5.6 million , or $ 0.21 per share , compared with a non - GAAP net loss of $ 5.1 million , or $ 0.24 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 . Revenues for the full fiscal year 2020 were $ 87.1 million as compared to $ 63.8 million in fiscal year 2019. The increase in revenues was driven by the contribution from the acquisition of NEPSI ™ as well as growth in the D - VAR , Volt Var Optimization ( " VVO " ) and SPS product lines . AMSC reported a net loss for the fiscal year 2020 of $ 22.7 million , or $ 0.95 per diluted share , compared to net loss of $ 17.1 million , or $ 1.03 per diluted share in fiscal year 2019. The Company's non - GAAP net loss for the full year fiscal 2020 was $ 14.1 million , or $ 0.59 per share , compared with a non - GAAP net loss of $ 19.5 million , or $ 0.93 per share , for fiscal year 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 March 31 , 2021 totaled $ 80.7 million , compared with $ 66.1 million at March 31 , 2020. Cash , cash equivalents , marketable securities and restricted cash on March 31 , 2021 do not reflect the impact of the Company's acquisition of Neeltran , Inc. , which occurred subsequent to the end of the period . " In fiscal 2020 , we grew our Grid business by over 40 % - our sixth consecutive year of grid growth , " said Daniel P. McGahn , Chairman , President and CEO , AMSC . " With the acquisition of NEPSI and more recently , Neeltran , we have diversified our business by geography and by market , expanded our total addressable market for new energy power systems to nearly $ 3 billion and have accelerated our path toward profitability . I am grateful for our team's commitment and delivery on a successful fiscal year 2020 and look forward to continue to grow revenue in fiscal year 2021. " Business Outlook For the first quarter ending June 30 , 2021 , AMSC expects that its revenues will be in the range of $ 22 million to $ 26 million . The Company's net loss for the first quarter of fiscal 2021 is expected not to exceed $ 6.5 million , or $ 0.24 per share . The Company's net loss guidance assumes no changes in contingent consideration nor any purchase accounting adjustments associated with the Neeltran Acquisition . The Company's non - GAAP net loss ( as defined below ) is expected not to exceed $ 4.6 million , or $ 0.17 per share . The Company expects operating cash flow to be a burn of $ 4 million to $ 6 million in the first quarter of fiscal 2021. The Company expects cash , cash equivalents , marketable securities and restricted cash on June 30 , 2021 , to be no less than $ 60 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 , June 3 , 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 http://www.amsc.com/investors . To preregister for the call , go to Click To JoinLink . Callers who click the link will be able to enter their information to gain immediate access to the call and bypass the live operator . Participants may preregister 15 minutes prior to the scheduled start time . The live call can also be accessed by dialing 866-248-8441 or 323-289-6581 and using conference ID 8268096. 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 8268096 . About AMSC ( Nasdaq : AMSC ) AMSC generates the ideas , technologies and solutions that meet the world's demand for smarter , cleaner ... better energy TM . Through its Gridtec ™ Solutions , AMSC provides the engineering planning services and advanced grid systems that optimize network reliability , efficiency and performance . Through its Marinetec ™ M Solutions , AMSC provides ship protection 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 , Marintec , Windtec , Smarter , Cleaner ... Better Energy , Orchestrate the Rhythm and Harmony of Power on the Grid and NEPSI are trademarks or registered trademarks of American Superconductor Corporation . All other brand names , product names , trademarks or service marks belong to their respective holders .