2013 Q2 Form 10-Q Financial Statement
#000119312513324142 Filed on August 07, 2013
Income Statement
Concept | 2013 Q2 | 2013 Q1 | 2012 Q2 |
---|---|---|---|
Revenue | $23.09M | $20.42M | $28.72M |
YoY Change | -19.61% | -28.68% | 216.95% |
Cost Of Revenue | $17.99M | $18.09M | $16.93M |
YoY Change | 6.27% | -27.84% | -0.2% |
Gross Profit | $5.099M | $2.330M | $11.79M |
YoY Change | -56.75% | -34.55% | -249.24% |
Gross Profit Margin | 22.09% | 11.41% | 41.06% |
Selling, General & Admin | $10.83M | $13.35M | $13.80M |
YoY Change | -21.54% | -22.25% | -37.25% |
% of Gross Profit | 212.34% | 572.96% | 117.04% |
Research & Development | $3.027M | $3.850M | $3.910M |
YoY Change | -22.58% | -35.08% | -51.97% |
% of Gross Profit | 59.36% | 165.24% | 33.16% |
Depreciation & Amortization | $2.655M | $2.910M | $3.344M |
YoY Change | -20.6% | -36.46% | 3.21% |
% of Gross Profit | 52.07% | 124.89% | 28.36% |
Operating Expenses | $31.94M | $17.28M | $34.84M |
YoY Change | -8.35% | -25.45% | 14.51% |
Operating Profit | -$8.850M | -$14.95M | -$6.128M |
YoY Change | 44.42% | -23.8% | -84.01% |
Interest Expense | $2.100M | -$3.320M | $2.700M |
YoY Change | -22.22% | 482.46% | 1025.0% |
% of Operating Profit | |||
Other Income/Expense, Net | $69.00K | -$10.00K | $123.0K |
YoY Change | -43.9% | -78.42% | |
Pretax Income | -$10.42M | -$19.35M | -$11.11M |
YoY Change | -6.19% | -7.77% | -70.39% |
Income Tax | $90.00K | $420.0K | -$836.0K |
% Of Pretax Income | |||
Net Earnings | -$10.51M | -$19.77M | -$10.28M |
YoY Change | 2.32% | -6.61% | -72.73% |
Net Earnings / Revenue | -45.54% | -96.82% | -35.78% |
Basic Earnings Per Share | -$1.80 | -$0.20 | |
Diluted Earnings Per Share | -$1.80 | -$3.505M | -$0.20 |
COMMON SHARES | |||
Basic Shares Outstanding | 58.30M shares | 51.19M shares | |
Diluted Shares Outstanding | 58.30M shares | 51.19M shares |
Balance Sheet
Concept | 2013 Q2 | 2013 Q1 | 2012 Q2 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $32.60M | $39.20M | $65.70M |
YoY Change | -50.38% | -24.03% | -58.1% |
Cash & Equivalents | $32.61M | $39.24M | $60.49M |
Short-Term Investments | $0.00 | $5.200M | |
Other Short-Term Assets | $24.70M | $28.60M | $47.20M |
YoY Change | -47.67% | -18.98% | -29.24% |
Inventory | $30.75M | $33.47M | $28.70M |
Prepaid Expenses | |||
Receivables | $11.09M | $18.86M | $13.60M |
Other Receivables | $0.00 | $0.00 | $0.00 |
Total Short-Term Assets | $99.14M | $120.2M | $155.1M |
YoY Change | -36.08% | -16.31% | -41.71% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $71.93M | $74.63M | $87.70M |
YoY Change | -17.98% | -17.81% | -11.05% |
Goodwill | |||
YoY Change | |||
Intangibles | $2.536M | $2.749M | |
YoY Change | |||
Long-Term Investments | |||
YoY Change | |||
Other Assets | $9.067M | $9.020M | $17.90M |
YoY Change | -49.35% | -46.63% | -19.73% |
Total Long-Term Assets | $95.05M | $96.57M | $109.1M |
YoY Change | -12.88% | -13.39% | -14.5% |
TOTAL ASSETS | |||
Total Short-Term Assets | $99.14M | $120.2M | $155.1M |
Total Long-Term Assets | $95.05M | $96.57M | $109.1M |
Total Assets | $194.2M | $216.8M | $264.2M |
YoY Change | -26.5% | -15.03% | -32.89% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $4.174M | $7.146M | $30.90M |
YoY Change | -86.49% | -12.85% | -53.46% |
Accrued Expenses | $21.10M | ||
YoY Change | |||
Deferred Revenue | |||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | -100.0% | ||
Long-Term Debt Due | $11.70M | $8.800M | $3.600M |
YoY Change | 225.0% | ||
Total Short-Term Liabilities | $67.51M | $79.76M | $84.10M |
YoY Change | -19.72% | -7.58% | -35.7% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $5.800M | $9.200M | $19.90M |
YoY Change | -70.85% | ||
Other Long-Term Liabilities | $1.165M | $1.291M | $3.500M |
YoY Change | -66.71% | -65.11% | 34.62% |
Total Long-Term Liabilities | $1.165M | $1.291M | $23.40M |
YoY Change | -95.02% | -65.11% | 800.0% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $67.51M | $79.76M | $84.10M |
Total Long-Term Liabilities | $1.165M | $1.291M | $23.40M |
Total Liabilities | $75.71M | $91.64M | $107.8M |
YoY Change | -29.77% | 1.59% | -19.49% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$810.6M | -$800.1M | |
YoY Change | |||
Common Stock | $610.0K | $603.0K | |
YoY Change | |||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | $370.0K | $313.0K | |
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $118.5M | $125.1M | $156.4M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $194.2M | $216.8M | $264.2M |
YoY Change | -26.5% | -15.03% | -32.89% |
Cashflow Statement
Concept | 2013 Q2 | 2013 Q1 | 2012 Q2 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$10.51M | -$19.77M | -$10.28M |
YoY Change | 2.32% | -6.61% | -72.73% |
Depreciation, Depletion And Amortization | $2.655M | $2.910M | $3.344M |
YoY Change | -20.6% | -36.46% | 3.21% |
Cash From Operating Activities | -$9.307M | -$4.580M | -$11.59M |
YoY Change | -19.7% | -41.06% | -79.94% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $97.00K | -$170.0K | $88.00K |
YoY Change | 10.23% | -91.01% | -101.86% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $205.0K | $2.830M | -$6.760M |
YoY Change | -103.03% | -191.59% | -110.48% |
Cash From Investing Activities | $3.774M | $2.660M | -$6.846M |
YoY Change | -155.13% | -153.41% | -111.46% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | $1.154M | ||
YoY Change | |||
Cash From Financing Activities | -1.211M | -1.040M | 32.93M |
YoY Change | -103.68% | -677.78% | 651.71% |
NET CHANGE | |||
Cash From Operating Activities | -9.307M | -4.580M | -11.59M |
Cash From Investing Activities | 3.774M | 2.660M | -6.846M |
Cash From Financing Activities | -1.211M | -1.040M | 32.93M |
Net Change In Cash | -6.744M | -2.960M | 14.49M |
YoY Change | -146.55% | -76.45% | 127.8% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$9.307M | -$4.580M | -$11.59M |
Capital Expenditures | $97.00K | -$170.0K | $88.00K |
Free Cash Flow | -$9.404M | -$4.410M | -$11.68M |
YoY Change | -19.48% | -25.0% | -77.98% |
Facts In Submission
Frame | Concept Type | Concept / XBRL Key | Value | Unit |
---|---|---|---|---|
CY2013Q3 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
63124801 | shares |
CY2012Q1 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
974000 | |
CY2012Q1 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
5896000 | |
CY2012Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
46279000 | |
CY2012Q2 | us-gaap |
Share Price
SharePrice
|
3.97 | |
CY2012Q2 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
25000000 | |
CY2012Q2 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
3800000 | |
CY2013Q1 | us-gaap |
Share Price
SharePrice
|
2.67 | |
CY2013Q1 | us-gaap |
Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
|
1440000 | |
CY2013Q1 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
15380000 | |
CY2013Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
9142000 | |
CY2013Q1 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
923847000 | |
CY2013Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
7146000 | |
CY2013Q1 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
4158000 | |
CY2013Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
2442000 | |
CY2013Q1 | us-gaap |
Deferred Tax Liabilities Current
DeferredTaxLiabilitiesCurrent
|
5444000 | |
CY2013Q1 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
199000 | |
CY2013Q1 | us-gaap |
Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
|
2709000 | |
CY2013Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
79757000 | |
CY2013Q1 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
1112000 | |
CY2013Q1 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
2709000 | |
CY2013Q1 | us-gaap |
Derivative Liabilities Current
DerivativeLiabilitiesCurrent
|
4162000 | |
CY2013Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
5506000 | |
CY2013Q1 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
1291000 | |
CY2013Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
125118000 | |
CY2013Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
||
CY2013Q1 | us-gaap |
Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
|
5881000 | |
CY2013Q1 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
30138000 | |
CY2013Q1 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
529000 | |
CY2013Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-800131000 | |
CY2013Q1 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
29805000 | |
CY2013Q1 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
4610000 | |
CY2013Q1 | us-gaap |
Common Stock Value
CommonStockValue
|
603000 | |
CY2013Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
216754000 | |
CY2013Q1 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
133000 | |
CY2013Q1 | us-gaap |
Long Term Notes Payable
LongTermNotesPayable
|
3367000 | |
CY2013Q1 | us-gaap |
Liabilities
Liabilities
|
91636000 | |
CY2013Q1 | us-gaap |
Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
|
1340000 | |
CY2013Q1 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
CY2013Q1 | us-gaap |
Deferred Tax Assets Gross Noncurrent
DeferredTaxAssetsGrossNoncurrent
|
5354000 | |
CY2013Q1 | us-gaap |
Assets Current
AssetsCurrent
|
120185000 | |
CY2013Q1 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
4820000 | |
CY2013Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
2749000 | |
CY2013Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
9020000 | |
CY2013Q1 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
6136000 | |
CY2013Q1 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
3427000 | |
CY2013Q1 | us-gaap |
Assets
Assets
|
216754000 | |
CY2013Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
39243000 | |
CY2013Q1 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
5966000 | |
CY2013Q1 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
18864000 | |
CY2013Q1 | us-gaap |
Unbilled Contracts Receivable
UnbilledContractsReceivable
|
1642000 | |
CY2013Q1 | us-gaap |
Inventory Net
InventoryNet
|
33473000 | |
CY2013Q1 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
22469000 | |
CY2013Q1 | us-gaap |
Billed Contract Receivables
BilledContractReceivables
|
17222000 | |
CY2013Q1 | us-gaap |
Inventory For Long Term Contracts Or Programs
InventoryForLongTermContractsOrPrograms
|
2425000 | |
CY2013Q1 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
18649000 | |
CY2013Q1 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
313000 | |
CY2013Q1 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
21655000 | |
CY2013Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
74626000 | |
CY2013Q1 | amsc |
Convertible Notes Payable Current Net
ConvertibleNotesPayableCurrentNet
|
4289000 | |
CY2013Q1 | amsc |
Convertible Notes Payable Noncurrent Net
ConvertibleNotesPayableNoncurrentNet
|
600000 | |
CY2013Q1 | amsc |
Warrant Liabilities
WarrantLiabilities
|
3633000 | |
CY2013Q1 | amsc |
Notes Payable Noncurrent Net
NotesPayableNoncurrentNet
|
95000 | |
CY2013Q1 | amsc |
Notes Payable Current Net
NotesPayableCurrentNet
|
458000 | |
CY2013Q1 | amsc |
Accrued Outside Services
AccruedOutsideServices
|
2251000 | |
CY2013Q1 | amsc |
Accrued Value Added Tax Current
AccruedValueAddedTaxCurrent
|
809000 | |
CY2012Q2 | us-gaap |
Share Price
SharePrice
|
4.68 | |
CY2012Q2 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
25278000 | |
CY2012Q2 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
578000 | |
CY2012Q2 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
5500000 | |
CY2012Q2 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
4500000 | |
CY2012Q2 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
35000000 | |
CY2012Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
60487000 | |
CY2012Q3 | us-gaap |
Share Price
SharePrice
|
4.15 | |
CY2012Q3 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
24191000 | |
CY2012Q3 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
2800000 | |
CY2012Q4 | us-gaap |
Share Price
SharePrice
|
2.62 | |
CY2012Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
20944000 | |
CY2012Q4 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
1000000 | |
CY2013Q2 | us-gaap |
Share Price
SharePrice
|
2.64 | |
CY2013Q2 | us-gaap |
Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
|
1179000 | |
CY2013Q2 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
14389000 | |
CY2013Q2 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
9419000 | |
CY2013Q2 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
927807000 | |
CY2013Q2 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
4174000 | |
CY2013Q2 | us-gaap |
Notes Payable Current
NotesPayableCurrent
|
4252000 | |
CY2013Q2 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
512000 | |
CY2013Q2 | us-gaap |
Deferred Tax Liabilities Current
DeferredTaxLiabilitiesCurrent
|
5452000 | |
CY2013Q2 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
76000 | |
CY2013Q2 | us-gaap |
Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
|
2787000 | |
CY2013Q2 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
67514000 | |
CY2013Q2 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
1077000 | |
CY2013Q2 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
2787000 | |
CY2013Q2 | us-gaap |
Derivative Liabilities Current
DerivativeLiabilitiesCurrent
|
3693000 | |
CY2013Q2 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
4153000 | |
CY2013Q2 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
1165000 | |
CY2013Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
118480000 | |
CY2013Q2 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
||
CY2013Q2 | us-gaap |
Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
|
3532000 | |
CY2013Q2 | us-gaap |
Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
|
25481000 | |
CY2013Q2 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
477000 | |
CY2013Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-810644000 | |
CY2013Q2 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
20031000 | |
CY2013Q2 | us-gaap |
Convertible Notes Payable Current
ConvertibleNotesPayableCurrent
|
7426000 | |
CY2013Q2 | us-gaap |
Common Stock Value
CommonStockValue
|
610000 | |
CY2013Q2 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
194193000 | |
CY2013Q2 | us-gaap |
Line Of Credit Facility Amount Outstanding
LineOfCreditFacilityAmountOutstanding
|
2700000 | |
CY2013Q2 | us-gaap |
Line Of Credit Facility Amount Outstanding
LineOfCreditFacilityAmountOutstanding
|
3500000 | |
CY2013Q2 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
175000 | |
CY2013Q2 | us-gaap |
Long Term Notes Payable
LongTermNotesPayable
|
2268000 | |
CY2013Q2 | us-gaap |
Liabilities
Liabilities
|
75713000 | |
CY2013Q2 | us-gaap |
Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
|
1234000 | |
CY2013Q2 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
CY2013Q2 | us-gaap |
Deferred Tax Assets Gross Noncurrent
DeferredTaxAssetsGrossNoncurrent
|
5421000 | |
CY2013Q2 | us-gaap |
Assets Current
AssetsCurrent
|
99140000 | |
CY2013Q2 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
6098000 | |
CY2013Q2 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
2536000 | |
CY2013Q2 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
9067000 | |
CY2013Q2 | us-gaap |
Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
|
824000 | |
CY2013Q2 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
3730000 | |
CY2013Q2 | us-gaap |
Assets
Assets
|
194193000 | |
CY2013Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
32608000 | |
CY2013Q2 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
6423000 | |
CY2013Q2 | us-gaap |
Accounts Receivable Net Current
AccountsReceivableNetCurrent
|
11088000 | |
CY2013Q2 | us-gaap |
Unbilled Contracts Receivable
UnbilledContractsReceivable
|
1863000 | |
CY2013Q2 | us-gaap |
Inventory Net
InventoryNet
|
30752000 | |
CY2013Q2 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
23868000 | |
CY2013Q2 | us-gaap |
Billed Contract Receivables
BilledContractReceivables
|
9225000 | |
CY2013Q2 | us-gaap |
Inventory For Long Term Contracts Or Programs
InventoryForLongTermContractsOrPrograms
|
2685000 | |
CY2013Q2 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
18658000 | |
CY2013Q2 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
370000 | |
CY2013Q2 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
17914000 | |
CY2013Q2 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
71931000 | |
CY2013Q2 | amsc |
Convertible Notes Payable Current Net
ConvertibleNotesPayableCurrentNet
|
3259000 | |
CY2013Q2 | amsc |
Convertible Notes Payable Noncurrent Net
ConvertibleNotesPayableNoncurrentNet
|
172000 | |
CY2013Q2 | amsc |
Warrant Liabilities
WarrantLiabilities
|
3216000 | |
CY2013Q2 | amsc |
Notes Payable Noncurrent Net
NotesPayableNoncurrentNet
|
39000 | |
CY2013Q2 | amsc |
Notes Payable Current Net
NotesPayableCurrentNet
|
363000 | |
CY2013Q2 | amsc |
Accrued Outside Services
AccruedOutsideServices
|
2744000 | |
CY2013Q2 | amsc |
Performance Bond Value
PerformanceBondValue
|
200000 | |
CY2013Q2 | amsc |
Derivative Liability Additional Convertible Notes And Warrants
DerivativeLiabilityAdditionalConvertibleNotesAndWarrants
|
15000000 | |
CY2013Q2 | amsc |
Number Of Performance Bonds In Support Of Customer Contracts
NumberOfPerformanceBondsInSupportOfCustomerContracts
|
1 | Bonds |
CY2013Q2 | amsc |
Accrued Value Added Tax Current
AccruedValueAddedTaxCurrent
|
1517000 | |
CY2013Q2 | us-gaap |
Loss Contingency Loss In Period
LossContingencyLossInPeriod
|
1800000 | |
CY2011Q2 | us-gaap |
Loss Contingency New Claims Filed Number
LossContingencyNewClaimsFiledNumber
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CY2011Q2 | us-gaap |
Loss Contingency New Claims Filed Number
LossContingencyNewClaimsFiledNumber
|
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CY2011Q2 | amsc |
Number Of Complaint Additionally Asserted Claims Against Underwriters
NumberOfComplaintAdditionallyAssertedClaimsAgainstUnderwriters
|
1 | Claim |
CY2011Q2 | amsc |
Number Of Officers Putative Securities Filed Against
NumberOfOfficersPutativeSecuritiesFiledAgainst
|
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CY2013 | us-gaap |
Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
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0.57 | pure |
CY2012Q2 | us-gaap |
Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
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CY2012Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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CY2012Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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CY2012Q2 | us-gaap |
Increase Decrease In Accounts Receivable
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CY2012Q2 | us-gaap |
Net Income Loss
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CY2012Q2 | us-gaap |
Net Cash Provided By Used In Operating Activities
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CY2012Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2012Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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6300000 | shares |
CY2012Q2 | us-gaap |
Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
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CY2012Q2 | us-gaap |
Fair Value Assumptions Expected Dividend Rate
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CY2012Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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CY2012Q2 | us-gaap |
Increase Decrease In Inventories
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CY2012Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
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CY2012Q2 | us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
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1016000 | |
CY2012Q2 | us-gaap |
Payments For Restructuring
PaymentsForRestructuring
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524000 | |
CY2012Q2 | us-gaap |
Sales Revenue Net
SalesRevenueNet
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28716000 | |
CY2012Q2 | us-gaap |
Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
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0.750 | pure |
CY2012Q2 | us-gaap |
Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
|
0.0044 | pure |
CY2012Q2 | us-gaap |
Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
|
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CY2012Q2 | amsc |
Fair Value Assumptions Redeemable
FairValueAssumptionsRedeemable
|
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CY2012Q2 | amsc |
Fair Value Assumptions Dilution Effect
FairValueAssumptionsDilutionEffect
|
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CY2012Q2 | amsc |
Fair Value Assumptions Recovery Rate
FairValueAssumptionsRecoveryRate
|
0.300 | pure |
CY2012Q2 | amsc |
Percentage Volume Condition Met
PercentageVolumeConditionMet
|
0.859 | pure |
CY2012Q2 | amsc |
Convertible Notes Fair Value As Percentage Of Par Value
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|
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Loss Contingency Number Of Claims Consolidated
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CY2013Q1 | us-gaap |
Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
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CY2013Q1 | us-gaap |
Fair Value Assumptions Expected Volatility Rate
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CY2013Q1 | us-gaap |
Fair Value Assumptions Risk Free Interest Rate
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CY2013Q1 | us-gaap |
Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
|
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CY2013Q1 | amsc |
Fair Value Assumptions Redeemable
FairValueAssumptionsRedeemable
|
yes | |
CY2013Q1 | amsc |
Fair Value Assumptions Dilution Effect
FairValueAssumptionsDilutionEffect
|
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CY2013Q1 | amsc |
Fair Value Assumptions Recovery Rate
FairValueAssumptionsRecoveryRate
|
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CY2013Q1 | amsc |
Percentage Volume Condition Met
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|
0.805 | pure |
CY2013Q1 | amsc |
Convertible Notes Fair Value As Percentage Of Par Value
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|
0.034 | pure |
CY2012Q2 | us-gaap |
Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
|
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CY2012Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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|
0.009 | pure |
CY2012Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.20 | |
CY2012Q2 | us-gaap |
Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
|
0.710 | pure |
CY2012Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
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|
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CY2012Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.720 | pure |
CY2012Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.20 | |
CY2012Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
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CY2012Q2 | us-gaap |
Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
|
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CY2012Q2 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-2718000 | |
CY2012Q2 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
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|
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CY2012Q2 | us-gaap |
Gain Loss On Investments
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|
-812000 | |
CY2012Q2 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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|
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CY2012Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
123000 | |
CY2012Q2 | us-gaap |
Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
|
-167000 | |
CY2012Q2 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
-828000 | |
CY2012Q2 | us-gaap |
Product Warranty Accrual Preexisting Increase Decrease
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|
-229000 | |
CY2012Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-6128000 | |
CY2012Q2 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
88000 | |
CY2012Q2 | us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
6858000 | |
CY2012Q2 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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|
4000 | |
CY2012Q2 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
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|
-6449000 | |
CY2012Q2 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
2282000 | |
CY2012Q2 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
32925000 | |
CY2012Q2 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
250000 | |
CY2012Q2 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-3913000 | |
CY2012Q2 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
14208000 | |
CY2012Q2 | us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
1994000 | |
CY2012Q2 | us-gaap |
Interest Expense
InterestExpense
|
2700000 | |
CY2012Q2 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
16926000 | |
CY2012Q2 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-6846000 | |
CY2012Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
3910000 | |
CY2012Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
3344000 | |
CY2012Q2 | us-gaap |
Proceeds From Debt Net Of Issuance Costs
ProceedsFromDebtNetOfIssuanceCosts
|
32961000 | |
CY2012Q2 | us-gaap |
Restructuring Charges
RestructuringCharges
|
128000 | |
CY2012Q2 | us-gaap |
Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
|
900000 | |
CY2012Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1994000 | |
CY2012Q2 | us-gaap |
Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
|
100000 | |
CY2012Q2 | us-gaap |
Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
|
128000 | |
CY2012Q2 | us-gaap |
Restructuring Costs
RestructuringCosts
|
-39000 | |
CY2012Q2 | us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
200000 | |
CY2012Q2 | us-gaap |
Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
|
81000 | |
CY2012Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
34844000 | |
CY2012Q2 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
13799000 | |
CY2012Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-836000 | |
CY2012Q2 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
-280000 | |
CY2012Q2 | amsc |
Weighted Average Shares Of Common Stock Outstanding
WeightedAverageSharesOfCommonStockOutstanding
|
51997000 | shares |
CY2012Q2 | amsc |
Fair Value Assumptions Redeemable
FairValueAssumptionsRedeemable
|
yes | |
CY2012Q2 | amsc |
Fair Value Assumptions Dilution Effect
FairValueAssumptionsDilutionEffect
|
yes | |
CY2012Q2 | amsc |
Fair Value Assumptions Recovery Rate
FairValueAssumptionsRecoveryRate
|
0.300 | pure |
CY2012Q2 | amsc |
Losses On Purchase Commitments
LossesOnPurchaseCommitments
|
-7301000 | |
CY2012Q2 | amsc |
Payments In Lieu Of Issuance Of Common Stock For Payroll Taxes
PaymentsInLieuOfIssuanceOfCommonStockForPayrollTaxes
|
-36000 | |
CY2012Q2 | amsc |
Percentage Volume Condition Met
PercentageVolumeConditionMet
|
0.752 | pure |
CY2012Q2 | amsc |
Gain Loss In Change Of Fair Value Of Derivative Instruments And Warrants
GainLossInChangeOfFairValueOfDerivativeInstrumentsAndWarrants
|
-2388000 | |
CY2012Q2 | amsc |
Non Cash Interest Expense Amortization Of Debt Discount
NonCashInterestExpenseAmortizationOfDebtDiscount
|
2300000 | |
CY2012Q2 | amsc |
Convertible Notes Fair Value As Percentage Of Par Value
ConvertibleNotesFairValueAsPercentageOfParValue
|
0.179 | pure |
CY2013Q2 | dei |
Entity Registrant Name
EntityRegistrantName
|
AMERICAN SUPERCONDUCTOR CORP /DE/ | |
CY2013Q2 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2013Q2 | dei |
Entity Filer Category
EntityFilerCategory
|
Accelerated Filer | |
CY2013Q2 | dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2014 | |
CY2013Q2 | dei |
Document Type
DocumentType
|
10-Q | |
CY2013Q2 | dei |
Document Period End Date
DocumentPeriodEndDate
|
2013-06-30 | |
CY2013Q2 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0000880807 | |
CY2013Q2 | dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--03-31 | |
CY2013Q2 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q1 | |
CY2013Q2 | us-gaap |
Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
|
P1Y3M4D | |
CY2013Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.017 | pure |
CY2013Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.18 | |
CY2013Q2 | us-gaap |
Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
|
0.658 | pure |
CY2013Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
58300000 | shares |
CY2013Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.746 | pure |
CY2013Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.18 | |
CY2013Q2 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2"><b>1.</b></font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Nature of the Business and Operations and Liquidity</b></font></td> </tr> </table> <!-- xbrl,body --> <p style="MARGIN-TOP: 6px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Nature of the Business and Operations</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">American Superconductor Corporation (“AMSC” or the “Company”) was founded on April 9, 1987. The Company is a leading provider of megawatt-scale solutions that lower the cost of wind power and enhance the performance of the power grid. In the wind power market, the Company enables manufacturers to field wind turbines through its advanced engineering, support services and power electronics products. In the power grid market, the Company enables electric utilities and renewable energy project developers to connect, transmit and distribute power through its transmission planning services and power electronics and superconductor-based products. The Company’s wind and power grid products and services provide exceptional reliability, security, efficiency and affordability to its customers.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">These unaudited condensed consolidated financial statements of the Company have been prepared on a going concern basis in accordance with United States generally accepted accounting principles (“GAAP”) and the Securities and Exchange Commission’s (“SEC”) instructions to Form 10-Q. The going concern basis of presentation assumes that the Company will continue operations and will be able to realize its assets and discharge its liabilities and commitments in the normal course of business. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted pursuant to those instructions. The year-end condensed balance sheet data was derived from audited financial statements but does not include all disclosures required by GAAP. The unaudited condensed consolidated financial statements, in the opinion of management, reflect all adjustments (consisting of normal recurring adjustments) necessary for a fair statement of the results for the interim periods ended June 30, 2013 and 2012 and the financial position at June 30, 2013.</font></p> <p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b><i>Liquidity</i></b></font></p> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">The Company has experienced recurring operating losses and as of June 30, 2013, the Company had an accumulated deficit of $810.6 million. In addition, the Company has experienced recurring negative operating cash flows, which has resulted in a decrease in its cash balance. These factors raise substantial doubt about the Company’s ability to continue as a going concern. These financial statements do not include any adjustments that might result from the outcome of this uncertainty. At June 30, 2013, the Company had cash and cash equivalents of $32.6 million. Cash used in operations for the three months ended June 30, 2013 was $9.3 million. The Company obtained financing totaling approximately $35.0 million during the quarter ended June 30, 2012. No additional financing has been obtained since then.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">The Company is currently in the process of consolidating certain business operations to reduce facility costs. The Company expects that its cost reduction efforts and anticipated revenue growth will result in a reduction of cash used for operations during the fiscal year ending March 31, 2014, compared to the prior year. In July 2013, the Company reduced its workforce by approximately 7% and expects to record a restructuring charge for severance and other costs of approximately $1.0 million in the quarter ending September 30, 2013. The Company plans to closely monitor its expenses and if required, expects to further reduce operating costs and capital spending to enhance liquidity.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">On April 4, 2012, the Company completed a private placement of $25.0 million aggregate principal amount of a 7% senior unsecured convertible note (the “Initial Note”). On June 5, 2012, the Company entered into a Loan and Security Agreement (the “Term Loan”), under which the Company borrowed $10.0 million. On December 20, 2012, the Company agreed to exchange the Initial Note for a new unsecured, senior convertible note (the “Exchanged Note”), which had the same principal amount and accrued interest as the Initial Note at the time of the exchange. See Note 10, “Debt”, for further information regarding these debt arrangements, including the covenants, restrictions and events of default under the agreements.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">On June 5, 2012, the Company entered into a Loan and Security Agreement (as modified by that certain Limited Waiver dated June 11, 2013, the “Term Loan”), under which the Company borrowed $10.0 million. The Term Loan contains certain covenants and restrictions including, among others, a requirement to maintain a minimum unrestricted cash balance in the U.S. equal to the remaining principal balance. (See Note 10, “Debt”, for further information regarding these debt arrangements, including the covenants, restrictions and events of default under the agreements.) The Company believes that it is in compliance with the covenants and restrictions included in the agreements governing these debt arrangements as of the date of this Quarterly Report on Form 10-Q.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">In order for the Company to continue operations beyond the next twelve months and be able to discharge its liabilities and commitments in the normal course of business, the Company needs to significantly increase sales through executing its strategy to broaden its customer base, enter new markets, and commercialize its superconductor product line. In addition, the Company may need to further reduce operating expenses in line with business conditions in order to decrease the amount of cash used in operations and continue to work with the holder of its convertible note in order to maintain the ability to make monthly amortization payments on the convertible note in shares of common stock. In July 2013, the holder of the Exchanged Note converted $4.0 million of the Exchanged Note into shares of common stock in accordance with the accelerated payment provisions of the Exchanged Note. In addition, the Company is actively seeking to sell its minority investments in Tres Amigas and Blade Dynamics and has recently engaged a financial advisor to assist with that effort. (See Note 13, “Equity Investments”, for further information about such investments.) There can be no assurance that we will be able to sell one or both of these investments on commercially reasonable terms or at all.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">If the Company successfully executes on its plans discussed above, then the Company believes that its available cash, together with additional reductions in operating costs and capital expenditures that it expects to make, if necessary, will be sufficient to fund its operations, capital expenditures and scheduled cash payments under its debt obligations through June 30, 2014. The Company’s ability to pay required monthly installment payments under the Exchanged Note in equity instead of cash is based on certain stock price and trading volume conditions that are outside of the Company’s control. If one or both of these equity conditions are not met (absent a waiver from the lender), the Company may be required to make required monthly installment payments in cash. As of the date of this Form 10-Q, the Company has only made payments to the lender in shares of common stock and as a result, the principal balance has been reduced by $10.6 million through June 30, 2013. If the Company fails one or both of the equity conditions, the Company can still make required payments in its common stock with a waiver from the lender, which has been provided in the past. There is no assurance that the lender will provide any waivers in the future. The Company’s liquidity is highly dependent on its ability to profitably grow revenues through both the acquisition of new customers and growth from its existing customers, manage its operating expenses, continue to make amortization payments under the Exchanged Note in shares of the Company’s common stock, maintain compliance with the covenants and restrictions on its debt obligations (or obtain waivers from our lenders in the event of non-compliance), and raise additional capital, as required. Potential sources of additional capital include sales of its minority investments in Tres Amigas and Blade Dynamics, (see Note 13, “Equity Investments”, for further information about such investments) and obtaining additional financing (with the consent of our lenders, if required). There can be no assurance that sources of additional financing or other forms of liquidity will be available on commercially acceptable terms or at all.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px" align="justify"><font style="FONT-FAMILY: Times New Roman" size="2">The results of operations for an interim period are not necessarily indicative of the results of operations to be expected for the fiscal year. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements for the fiscal year ended March 31, 2013 (fiscal 2012) which are contained in the Company’s Annual Report on Form 10-K.</font></p> </div> | |
CY2013Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
2655000 | |
CY2013Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
3027000 | |
CY2013Q2 | us-gaap |
Debt Instrument Maturity Date
DebtInstrumentMaturityDate
|
2014-03-31 | |
CY2013Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y10M24D | |
CY2013Q2 | us-gaap |
Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
|
0.0021 | pure |
CY2013Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
CY2013Q2 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-9307000 | |
CY2013Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
58300000 | shares |
CY2013Q2 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | Segment |
CY2013Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
6100000 | shares |
CY2013Q2 | us-gaap |
Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
|
2163000 | shares |
CY2013Q2 | us-gaap |
Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
|
0.167 | pure |
CY2013Q2 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-2111000 | |
CY2013Q2 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
1151000 | |
CY2013Q2 | us-gaap |
Gain Loss On Investments
GainLossOnInvestments
|
-248000 | |
CY2013Q2 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
-10548000 | |
CY2013Q2 | us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
205000 | |
CY2013Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
69000 | |
CY2013Q2 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
1154000 | |
CY2013Q2 | us-gaap |
Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
|
152000 | |
CY2013Q2 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
145000 | |
CY2013Q2 | us-gaap |
Debt Instrument Increase Decrease Other Net
DebtInstrumentIncreaseDecreaseOtherNet
|
10600000 | |
CY2013Q2 | us-gaap |
Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
|
-74000 | |
CY2013Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-8850000 | |
CY2013Q2 | us-gaap |
Interest Paid
InterestPaid
|
216000 | |
CY2013Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-10423000 | |
CY2013Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-35000 | |
CY2013Q2 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-8111000 | |
CY2013Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-10513000 | |
CY2013Q2 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-2861000 | |
CY2013Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-35000 | |
CY2013Q2 | us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
1832000 | |
CY2013Q2 | us-gaap |
Payments For Restructuring
PaymentsForRestructuring
|
136000 | |
CY2013Q2 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
23086000 | |
CY2013Q2 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
97000 | |
CY2013Q2 | us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
-4051000 | |
CY2013Q2 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-5464000 | |
CY2013Q2 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
1672000 | |
CY2013Q2 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-1211000 | |
CY2013Q2 | us-gaap |
Inventory Write Down
InventoryWriteDown
|
160000 | |
CY2013Q2 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-10211000 | |
CY2013Q2 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-6635000 | |
CY2013Q2 | us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
2135000 | |
CY2013Q2 | us-gaap |
Interest Expense
InterestExpense
|
2100000 | |
CY2013Q2 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
25000 | |
CY2013Q2 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
17987000 | |
CY2013Q2 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
3774000 | |
CY2013Q2 | us-gaap |
Restructuring Charges
RestructuringCharges
|
13000 | |
CY2013Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2135000 | |
CY2013Q2 | us-gaap |
Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
|
13000 | |
CY2013Q2 | us-gaap |
Restructuring Costs
RestructuringCosts
|
-27000 | |
CY2013Q2 | us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
686000 | |
CY2013Q2 | us-gaap |
Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
|
82000 | |
CY2013Q2 | us-gaap |
Operating Expenses
OperatingExpenses
|
31936000 | |
CY2013Q2 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
10827000 | |
CY2013Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
90000 | |
CY2013Q2 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
109000 | |
CY2013Q2 | amsc |
Weighted Average Shares Of Common Stock Outstanding
WeightedAverageSharesOfCommonStockOutstanding
|
60463000 | shares |
CY2013Q2 | amsc |
Number Of Trading Days For Valuation Of Shares
NumberOfTradingDaysForValuationOfShares
|
P10D | |
CY2013Q2 | amsc |
Fair Value Assumptions Redeemable
FairValueAssumptionsRedeemable
|
yes | |
CY2013Q2 | amsc |
Fair Value Assumptions Dilution Effect
FairValueAssumptionsDilutionEffect
|
yes | |
CY2013Q2 | amsc |
Fair Value Assumptions Recovery Rate
FairValueAssumptionsRecoveryRate
|
0.370 | pure |
CY2013Q2 | amsc |
Long Term Purchase Commitment Adverse Purchase Commitment Accrual
LongTermPurchaseCommitmentAdversePurchaseCommitmentAccrual
|
300000 | |
CY2013Q2 | amsc |
Convertible Debt Instrument Redemption Waiting Period
ConvertibleDebtInstrumentRedemptionWaitingPeriod
|
P1Y | |
CY2013Q2 | amsc |
Non Cash Interest Expense Issuing Stock At Discount
NonCashInterestExpenseIssuingStockAtDiscount
|
100000 | |
CY2013Q2 | amsc |
Percentage Of Stock Discount
PercentageOfStockDiscount
|
0.85 | pure |
CY2013Q2 | amsc |
Convertible Debt Instrument Contractual Term
ConvertibleDebtInstrumentContractualTerm
|
P30M | |
CY2013Q2 | amsc |
Payments In Lieu Of Issuance Of Common Stock For Payroll Taxes
PaymentsInLieuOfIssuanceOfCommonStockForPayrollTaxes
|
-57000 | |
CY2013Q2 | amsc |
Percentage Volume Condition Met
PercentageVolumeConditionMet
|
0.875 | pure |
CY2013Q2 | amsc |
Gain Loss In Change Of Fair Value Of Derivative Instruments And Warrants
GainLossInChangeOfFairValueOfDerivativeInstrumentsAndWarrants
|
469000 | |
CY2013Q2 | amsc |
Non Cash Interest Expense Amortization Of Debt Discount
NonCashInterestExpenseAmortizationOfDebtDiscount
|
1700000 | |
CY2013Q2 | amsc |
Convertible Notes Fair Value As Percentage Of Par Value
ConvertibleNotesFairValueAsPercentageOfParValue
|
0.033 | pure |
CY2012Q3 | us-gaap |
Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
|
P2Y4D | |
CY2012Q3 | us-gaap |
Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
|
0.700 | pure |
CY2012Q3 | us-gaap |
Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
|
0.0023 | pure |
CY2012Q3 | us-gaap |
Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
|
0.150 | pure |
CY2012Q3 | amsc |
Fair Value Assumptions Redeemable
FairValueAssumptionsRedeemable
|
yes | |
CY2012Q3 | amsc |
Fair Value Assumptions Dilution Effect
FairValueAssumptionsDilutionEffect
|
yes | |
CY2012Q3 | amsc |
Fair Value Assumptions Recovery Rate
FairValueAssumptionsRecoveryRate
|
0.300 | pure |
CY2012Q3 | amsc |
Percentage Volume Condition Met
PercentageVolumeConditionMet
|
0.510 | pure |
CY2012Q3 | amsc |
Convertible Notes Fair Value As Percentage Of Par Value
ConvertibleNotesFairValueAsPercentageOfParValue
|
0.114 | pure |
CY2012Q4 | us-gaap |
Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
|
P1Y9M4D | |
CY2012Q4 | us-gaap |
Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
|
0.735 | pure |
CY2012Q4 | us-gaap |
Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
|
0.0023 | pure |
CY2012Q4 | us-gaap |
Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
|
0.165 | pure |
CY2012Q4 | amsc |
Fair Value Assumptions Redeemable
FairValueAssumptionsRedeemable
|
yes | |
CY2012Q4 | amsc |
Fair Value Assumptions Dilution Effect
FairValueAssumptionsDilutionEffect
|
yes | |
CY2012Q4 | amsc |
Fair Value Assumptions Recovery Rate
FairValueAssumptionsRecoveryRate
|
0.300 | pure |
CY2012Q4 | amsc |
Percentage Volume Condition Met
PercentageVolumeConditionMet
|
0.945 | pure |
CY2012Q4 | amsc |
Convertible Notes Fair Value As Percentage Of Par Value
ConvertibleNotesFairValueAsPercentageOfParValue
|
0.049 | pure |