Still holding about a quarter of the preferred shares.
Couldn't resist taking that 29% short term profit. I'm watching the common stock. My guess is it's not quite time to get in there yet. Dry bulk rates may have gone as low as they can possibly go, but a meaningful recovery is still many, many quarters away.
Just my opinion. glta
From Windpower Monthly:
16 February 2016 by David Weston
INDIA: Inox Wind has been awarded a 100MW deal from local developer Tata Power Renewable Energy.
Inox Wind will supply turbines to Tata Power Renewable Energy's Rojmal site
Inox will provide and install 50 2MW doubly-fed induction-generator turbines to an expansion project in Rojmal, Gujarat, north-west India.
This is the fourth time Tata has placed an order with Inox, according to the manufacturer, and will take the total to 300MW.
The Rojmal complex of projects will total 400MW once completed, owned by a number of developers. The site has 140MW of operating capacity, 50MW of which is owned by Tata.
In January 2015, Inox Wind won the contract from Tata to supply the turbines for two wind projects in India with a combined capacity of 172MW. The deal included a 54MW order for an earlier phase of the Rojmal site
There is actually no change to what amsc originally announced about the Inox agreement. I'm usually impressed with Recharge's reporting, but not in this case. They just plain got it wrong.
AMSC still expects $210m over the next 3-4 years, as originally stated. After that, they continue to expect to get revenue from Inox. That was stated in original pr, and it was restated in the most recent conf call.
Here's the wording from the original pr:
"The aggregate value of these agreements is approximately $210 million over the next three to four years, when the specified deliveries under this contract are expected to be completed. Once the specified deliveries under the Supply Contract are completed, further revenues are expected for at least an additional three year period during which AMSC will provide Inox with the majority of its 2MW ECS requirements under a preferred supplier arrangement."
Here's McGahn's wording from the most recent conf call:
"Additionally, we entered into a set of strategic agreements with Inox in December valued at approximately $210 million, which we expect to realize over the next three to four years. These agreements also include a provision for AMSC to be Inox's preferred supplier for 2-megawatt ECS for the subsequent three year
end quote. There was no raising of revenue estimates from Inox.
They usually don't give guidance for specific segments or products. However, it was stated the the forecasted sequential decline in revenue next qrt would be due to lower DVAR revenues, due to a non-repeat large order from a single customer.
Reading the 10q, this single customer was apparently a company called Fuji Bridex, which accounted for 18% of the quarter's $25.772m rev. Doing the math, I calculate that Fuji Bridex accounted for $4.64m of the Grid segment's $8.54m revenue. I figure a non-repeat of that order could mean DVAR revenue could be as low as $4-5m based on that, but I could be wrong. I hope it's a little higher.
Probably not much money. You won't see significant revenue from the Navy unless they decide to go ahead with hts degaussing on multiple ships.
Here's a better link. Google the following:
High Temperature Superconducting Wire (HTS)
Solicitation Number: N64498-16-T-0026
cut and pasted:
Naval Surface Warfare Center Philadelphia Division, intends to acquire 8600 Meters High Temperature Superconducting (HTS) Wire. This item will be acquired on a sole source basis from American Superconducting in accordance with specifications and shall be subject to quality assurance inspections
The other week I called 6-ish for support, and it looks good so far. Some of my other holdings have got clobbered in this market, but this one's towing the line, with a couple of days of gaining late in the day on high volume.
This thing took a peek at $8 a while back, and it will check it out again. GLTA
Cut and paste the following into a google search:
I was a little confused on some points. Inox talks about a 5-7 year arrangement, not a 3-4 year. They talk about a 50-50 split of ECS production (amsc-Inox). One analyst asked them if amsc's $210m figure assumed a 50-50 split, and the response was sort of, yea that's probably right.
lafeet, as someone who's been around here for as long, or longer, than me, I know this will interest you. Google the following:
Oral-History:Alexis P. Malozemoff
About Alexis P. Malozemoff
It's quite a lengthy interview, and the first part about Malozemoff's research work in university and IBM went way over my head. Browse thru that, but when you get to his career at amsc, read it carefully. A very interesting history, with some insider tidbits I never knew about.
It's a bit dated but can't be that old, as he talks about the Chicago-REG project.
On two-year chart, six (plus or minus a bit) looked like it was support in early 2015. After it broke support it became resistance. Now we've busted back thru, and it could be a support area again.
Yesterday's action signaled a short-term reversal, but longer term I think it''s got more upside, so I'm hanging in here.
I could be wrong and I often am. glta