An energy technologies company, which offers an array of solutions based on two proprietary technologies: programmable power electronic converters and high temperature superconductor wires.
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The company was rocked after its main supplier rejected shipments it was required to purchase under contract.See the write-up here: http://www.frankvoisin.com/2011/04/07/american-superconductor-the-consequences-of-customer-concentration-amsc/.The company is in the sweet spot. Analysts expect this company to grow at 35% over the next five years. It looks like the company will have two bad quarters, during which time, it has a huge war chest of cash, to bide its time, after which it can resume growing.
We're pretty much reduced to rank speculation as to what's going on with Sinovel -- my own is that it's been caught running ahead of itself by the Chinese instituting a tight(er) money policy last year. With painfully inadequate information, my guess is that Sinovel placed orders for projects before it had its financing in place and then ran into the credit squeeze.
AMSC runs a tight ship; the stock was up 20 cents on the day when trading was closed prior to the announcement. It is not going to tell us much as it manoeuvers to get its money without losing its customer.
Having all of your eggs in one basket is a problem, but there are definitely worse problems to have.
At the current prices, the company is trading at 0.82 of book, a trailing PE of 9.5 and a forward number of 29, and PEG of 0.5. This company is really getting cheap, and I doubt it will stay this cheap for much longer. There are too many folks willing to look past the short term problems.
Yes, yes, there are financing problems. Yes, yes, the Sinoval issue hangs in the air. Yes, yes, it creates problems with past revenue recognition and the 10K is now officially late. But at its core this company has an EV of $168M and its sites on several different emerging billion dollar industries.