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American Superconductor fiscal Q3'17 revenues decline

American Superconductor Corp. on Feb. 5 reported a fiscal third-quarter 2017 non-GAAP net loss of $3.5 million, or 18 cents per share, from $2.9 million, or 21 cents per share, in the same period of fiscal 2016.

Revenues totaled $14.9 million for the fiscal quarter ended Dec. 31, 2017, down from $27.1 million in the comparable period of fiscal 2016. The company attributed the decrease to a lack of shipments of electric control systems to Inox, partially offset by increased license revenues.

On a GAAP basis, the company's net loss for the fiscal quarter was $4.2 million, or 21 cents per share, compared to $2.8 million, or 20 cents per share, in the same quarter of fiscal 2016.

The company is targeting fourth-quarter fiscal 2017 revenues in the range of $12.0 million to $18.0 million, a GAAP net loss of less than $7.5 million, or 37 cents per share, and a non-GAAP net loss of less than $6.9 million, or 34 cents per share. The company also expects an operating cash burn of $3.0 million to $5.0 million in the fourth quarter of fiscal 2017.