2014 Q2 Form 10-Q Financial Statement
#000156459014003115 Filed on August 05, 2014
Income Statement
| Concept | 2014 Q2 | 2013 Q2 |
|---|---|---|
| Revenue | $11.70M | $23.09M |
| YoY Change | -49.34% | -19.61% |
| Cost Of Revenue | $12.09M | $17.99M |
| YoY Change | -32.8% | 6.27% |
| Gross Profit | -$391.0K | $5.099M |
| YoY Change | -107.67% | -56.75% |
| Gross Profit Margin | -3.34% | 22.09% |
| Selling, General & Admin | $7.938M | $10.83M |
| YoY Change | -26.68% | -21.54% |
| % of Gross Profit | 212.34% | |
| Research & Development | $3.120M | $3.027M |
| YoY Change | 3.07% | -22.58% |
| % of Gross Profit | 59.36% | |
| Depreciation & Amortization | $2.475M | $2.655M |
| YoY Change | -6.78% | -20.6% |
| % of Gross Profit | 52.07% | |
| Operating Expenses | $11.06M | $31.94M |
| YoY Change | -65.37% | -8.35% |
| Operating Profit | -$12.67M | -$8.850M |
| YoY Change | 43.13% | 44.42% |
| Interest Expense | $500.0K | $2.100M |
| YoY Change | -76.19% | -22.22% |
| % of Operating Profit | ||
| Other Income/Expense, Net | -$152.0K | $69.00K |
| YoY Change | -320.29% | -43.9% |
| Pretax Income | -$13.39M | -$10.42M |
| YoY Change | 28.46% | -6.19% |
| Income Tax | $128.0K | $90.00K |
| % Of Pretax Income | ||
| Net Earnings | -$13.52M | -$10.51M |
| YoY Change | 28.57% | 2.32% |
| Net Earnings / Revenue | -115.57% | -45.54% |
| Basic Earnings Per Share | -$1.74 | -$1.80 |
| Diluted Earnings Per Share | -$1.74 | -$1.80 |
| COMMON SHARES | ||
| Basic Shares Outstanding | 7.769M | 58.30M shares |
| Diluted Shares Outstanding | 7.769M | 58.30M shares |
Balance Sheet
| Concept | 2014 Q2 | 2013 Q2 |
|---|---|---|
| SHORT-TERM ASSETS | ||
| Cash & Short-Term Investments | $36.60M | $32.60M |
| YoY Change | 12.27% | -50.38% |
| Cash & Equivalents | $36.62M | $32.61M |
| Short-Term Investments | ||
| Other Short-Term Assets | $14.60M | $24.70M |
| YoY Change | -40.89% | -47.67% |
| Inventory | $19.40M | $30.75M |
| Prepaid Expenses | ||
| Receivables | $10.30M | $11.09M |
| Other Receivables | $0.00 | $0.00 |
| Total Short-Term Assets | $81.00M | $99.14M |
| YoY Change | -18.3% | -36.08% |
| LONG-TERM ASSETS | ||
| Property, Plant & Equipment | $62.50M | $71.93M |
| YoY Change | -13.11% | -17.98% |
| Goodwill | ||
| YoY Change | ||
| Intangibles | $2.536M | |
| YoY Change | ||
| Long-Term Investments | ||
| YoY Change | ||
| Other Assets | $15.20M | $9.067M |
| YoY Change | 67.64% | -49.35% |
| Total Long-Term Assets | $79.60M | $95.05M |
| YoY Change | -16.26% | -12.88% |
| TOTAL ASSETS | ||
| Total Short-Term Assets | $81.00M | $99.14M |
| Total Long-Term Assets | $79.60M | $95.05M |
| Total Assets | $160.6M | $194.2M |
| YoY Change | -17.3% | -26.5% |
| SHORT-TERM LIABILITIES | ||
| YoY Change | ||
| Accounts Payable | $2.554M | $4.174M |
| YoY Change | -38.81% | -86.49% |
| Accrued Expenses | $15.90M | $21.10M |
| YoY Change | -24.64% | |
| Deferred Revenue | ||
| YoY Change | ||
| Short-Term Debt | $0.00 | $0.00 |
| YoY Change | ||
| Long-Term Debt Due | $5.900M | $11.70M |
| YoY Change | -49.57% | 225.0% |
| Total Short-Term Liabilities | $49.86M | $67.51M |
| YoY Change | -26.15% | -19.72% |
| LONG-TERM LIABILITIES | ||
| Long-Term Debt | $5.500M | $5.800M |
| YoY Change | -5.17% | -70.85% |
| Other Long-Term Liabilities | $1.023M | $1.165M |
| YoY Change | -12.19% | -66.71% |
| Total Long-Term Liabilities | $1.023M | $1.165M |
| YoY Change | -12.19% | -95.02% |
| TOTAL LIABILITIES | ||
| Total Short-Term Liabilities | $49.86M | $67.51M |
| Total Long-Term Liabilities | $1.023M | $1.165M |
| Total Liabilities | $58.10M | $75.71M |
| YoY Change | -23.27% | -29.77% |
| SHAREHOLDERS EQUITY | ||
| Retained Earnings | -$869.9M | -$810.6M |
| YoY Change | 7.31% | |
| Common Stock | $816.0K | $610.0K |
| YoY Change | 33.77% | |
| Preferred Stock | ||
| YoY Change | ||
| Treasury Stock (at cost) | $739.0K | $370.0K |
| YoY Change | 99.73% | |
| Treasury Stock Shares | ||
| Shareholders Equity | $102.5M | $118.5M |
| YoY Change | ||
| Total Liabilities & Shareholders Equity | $160.6M | $194.2M |
| YoY Change | -17.32% | -26.5% |
Cashflow Statement
| Concept | 2014 Q2 | 2013 Q2 |
|---|---|---|
| OPERATING ACTIVITIES | ||
| Net Income | -$13.52M | -$10.51M |
| YoY Change | 28.57% | 2.32% |
| Depreciation, Depletion And Amortization | $2.475M | $2.655M |
| YoY Change | -6.78% | -20.6% |
| Cash From Operating Activities | -$5.510M | -$9.307M |
| YoY Change | -40.8% | -19.7% |
| INVESTING ACTIVITIES | ||
| Capital Expenditures | $287.0K | $97.00K |
| YoY Change | 195.88% | 10.23% |
| Acquisitions | ||
| YoY Change | ||
| Other Investing Activities | $93.00K | $205.0K |
| YoY Change | -54.63% | -103.03% |
| Cash From Investing Activities | -$270.0K | $3.774M |
| YoY Change | -107.15% | -155.13% |
| FINANCING ACTIVITIES | ||
| Cash Dividend Paid | ||
| YoY Change | ||
| Common Stock Issuance & Retirement, Net | ||
| YoY Change | ||
| Debt Paid & Issued, Net | $1.442M | $1.154M |
| YoY Change | 24.96% | |
| Cash From Financing Activities | -630.0K | -1.211M |
| YoY Change | -47.98% | -103.68% |
| NET CHANGE | ||
| Cash From Operating Activities | -5.510M | -9.307M |
| Cash From Investing Activities | -270.0K | 3.774M |
| Cash From Financing Activities | -630.0K | -1.211M |
| Net Change In Cash | -6.410M | -6.744M |
| YoY Change | -4.95% | -146.55% |
| FREE CASH FLOW | ||
| Cash From Operating Activities | -$5.510M | -$9.307M |
| Capital Expenditures | $287.0K | $97.00K |
| Free Cash Flow | -$5.797M | -$9.404M |
| YoY Change | -38.36% | -19.48% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2014Q2 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
3120000 | |
| CY2014Q2 | us-gaap |
Derivative Liabilities Current
DerivativeLiabilitiesCurrent
|
2636000 | |
| CY2014Q2 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
14519000 | |
| CY2014Q2 | us-gaap |
Deferred Tax Liabilities Current
DeferredTaxLiabilitiesCurrent
|
7759000 | |
| CY2014Q2 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
49857000 | |
| CY2014Q2 | us-gaap |
Long Term Notes Payable
LongTermNotesPayable
|
5461000 | |
| CY2014Q2 | us-gaap |
Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
|
1755000 | |
| CY2014Q2 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
1023000 | |
| CY2014Q2 | us-gaap |
Liabilities
Liabilities
|
58096000 | |
| CY2014Q2 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
||
| CY2014Q2 | us-gaap |
Common Stock Value
CommonStockValue
|
816000 | |
| CY2014Q2 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
970553000 | |
| CY2014Q2 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
739000 | |
| CY2014Q2 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
160558000 | |
| CY2014Q2 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
1738000 | |
| CY2014Q2 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-869906000 | |
| CY2014Q2 | us-gaap |
Stockholders Equity
StockholdersEquity
|
102462000 | |
| CY2014Q2 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
11696000 | |
| CY2014Q2 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
12087000 | |
| CY2014Q2 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
7938000 | |
| CY2013Q2 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
-10548000 | |
| CY2014Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
2475000 | |
| CY2013Q2 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
2655000 | |
| CY2013Q2 | us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
686000 | |
| CY2014Q2 | us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
1581000 | |
| CY2013Q2 | us-gaap |
Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
|
2135000 | |
| CY2014Q2 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
2741000 | |
| CY2014Q2 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-623000 | |
| CY2014Q2 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-441000 | |
| CY2014Q2 | us-gaap |
Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
|
1179000 | |
| CY2014Q2 | us-gaap |
Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
|
39000 | |
| CY2014Q2 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
24363000 | |
| CY2014Q2 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-12667000 | |
| CY2014Q2 | amsc |
Gain Loss In Change Of Fair Value Of Derivative Instruments And Warrants
GainLossInChangeOfFairValueOfDerivativeInstrumentsAndWarrants
|
-35000 | |
| CY2014Q2 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-535000 | |
| CY2013Q2 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-2111000 | |
| CY2014Q2 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-152000 | |
| CY2014Q2 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-13389000 | |
| CY2014Q2 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
128000 | |
| CY2014Q2 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-13517000 | |
| CY2014Q2 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-0.17 | |
| CY2014Q2 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-0.17 | |
| CY2014Q2 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
77688000 | |
| CY2014Q2 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
77688000 | |
| CY2014Q2 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
|
-101000 | |
| CY2014Q2 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-101000 | |
| CY2014Q2 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
-13618000 | |
| CY2014Q2 | us-gaap |
Restructuring Costs
RestructuringCosts
|
-44000 | |
| CY2013Q2 | us-gaap |
Restructuring Costs
RestructuringCosts
|
-27000 | |
| CY2014Q2 | us-gaap |
Gain Loss On Investments
GainLossOnInvestments
|
-202000 | |
| CY2014Q2 | us-gaap |
Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
|
190000 | |
| CY2014Q2 | us-gaap |
Other Noncash Expense
OtherNoncashExpense
|
93000 | |
| CY2014Q2 | us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
1431000 | |
| CY2014Q2 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-1344000 | |
| CY2014Q2 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
5851000 | |
| CY2014Q2 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-5506000 | |
| CY2014Q2 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
287000 | |
| CY2014Q2 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
5000 | |
| CY2014Q2 | us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
-108000 | |
| CY2014Q2 | us-gaap |
Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
|
93000 | |
| CY2014Q2 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-267000 | |
| CY2014Q2 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
368000 | |
| CY2014Q2 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
1442000 | |
| CY2014Q2 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
1177000 | |
| CY2014Q2 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-633000 | |
| CY2013Q2 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
-1211000 | |
| CY2014Q2 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
-84000 | |
| CY2013Q2 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
109000 | |
| CY2014Q2 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-6490000 | |
| CY2013Q2 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-6635000 | |
| CY2013Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
39243000 | |
| CY2013Q2 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
32608000 | |
| CY2014Q2 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
34000 | |
| CY2013Q2 | us-gaap |
Income Taxes Paid Net
IncomeTaxesPaidNet
|
145000 | |
| CY2013Q2 | us-gaap |
Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
|
1832000 | |
| CY2014Q2 | us-gaap |
Interest Paid
InterestPaid
|
368000 | |
| CY2013Q2 | us-gaap |
Interest Paid
InterestPaid
|
216000 | |
| CY2014Q2 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">1. Nature of the Business and Operations and Liquidity </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Nature of the Business and Operations </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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 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, 2014 and 2013 and the financial position at June 30, 2014. </p> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Liquidity </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has experienced recurring operating losses and as of June 30, 2014, the Company had an accumulated deficit of $869.9 million. In addition, the Company has experienced recurring negative operating cash flows. At June 30, 2014, the Company had cash and cash equivalents of $36.6 million. Cash used in operations for the three months ended June 30, 2014 was $5.5 million. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">From April 1, 2011 through the date of this filing, the Company has reduced its global workforce substantially. The Company is currently in the process of consolidating certain business operations to reduce facility costs. As of June 30, 2014, the Company had a global workforce of approximately 281 persons. The Company plans to closely monitor its expenses and if required, expects to further reduce operating costs and capital spending to enhance liquidity. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On June 5, 2012, the Company entered into a Loan and Security Agreement (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. On November 15, 2013, the Company entered into an amendment of the Term Loan (the “New Term Loan”), under which the Company borrowed an additional $10.0 million. The New Term Loan contains covenants and restrictions similar to the existing Term Loan. (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. </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On November 15, 2013, the Company entered into an At Market Sales Arrangement (“ATM”) under which the Company may, at its discretion, sell up to $30.0 million of shares of its common stock (before expenses) through its sales agent, MLV & Co. LLC (“MLV”). During the three months ended June 30, 2014, the Company received net proceeds of $1.2 million, including sales and commissions and offering expenses, from sales of approximately 0.8 million shares of its common stock at an average sales price of approximately $1.63 per share under the ATM. (See Note 12, “Stockholders’ Equity”, for further information regarding the ATM.) At June 30, 2014, there was approximately $20.8 million of availability under the Company’s ATM (see further discussion below).</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Sales of common stock under the ATM may be made from time to time, at the Company’s discretion, in order to enhance liquidity. In addition, the Company is actively seeking to sell its minority investments in Tres Amigas and Blade Dynamics and has engaged a financial advisor to assist with that effort. (See Note 14, “Minority Investments”, for further information about such investments.) There can be no assurance that the Company will be able to sell one or both of these investments on commercially reasonable terms or at all.</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company believes it has sufficient available liquidity to fund its operations, capital expenditures and scheduled cash payments under its debt obligations through June 30, 2015. The Company’s liquidity is highly dependent on its ability to increase revenues, its ability to control its operating costs, its ability to utilize the ATM to raise additional capital as required, at its discretion, and its ability to maintain compliance with the covenants and restrictions on its debt obligations (or obtain waivers from its lender in the event of non-compliance). There can be no assurance that the Company will be able to continue to utilize the ATM. </p></div> | |
| CY2014Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
1749000 | |
| CY2014Q2 | amsc |
Accrued Inventories In Transit
AccruedInventoriesInTransit
|
1509000 | |
| CY2014Q2 | dei |
Entity Number Of Employees
EntityNumberOfEmployees
|
281 | |
| CY2014Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
1581000 | |
| CY2013Q2 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
2135000 | |
| CY2014Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.855 | |
| CY2013Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.017 | |
| CY2014Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y9M18D | |
| CY2013Q2 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y10M24D | |
| CY2014Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | |
| CY2013Q2 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | |
| CY2014Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
7400000 | |
| CY2013Q2 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
10600000 | |
| CY2014Q2 | amsc |
Weighted Average Shares Of Common Stock Outstanding
WeightedAverageSharesOfCommonStockOutstanding
|
79619000 | |
| CY2013Q2 | amsc |
Weighted Average Shares Of Common Stock Outstanding
WeightedAverageSharesOfCommonStockOutstanding
|
60463000 | |
| CY2014Q2 | us-gaap |
Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
|
1931000 | |
| CY2013Q2 | us-gaap |
Weighted Average Number Of Shares Common Stock Subject To Repurchase Or Cancellation
WeightedAverageNumberOfSharesCommonStockSubjectToRepurchaseOrCancellation
|
2163000 | |
| CY2014Q2 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
22180000 | |
| CY2014Q2 | amsc |
Warrant Liabilities
WarrantLiabilities
|
2636000 | |
| CY2014Q1 | us-gaap |
Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
|
17675000 | |
| CY2014Q1 | amsc |
Warrant Liabilities
WarrantLiabilities
|
2601000 | |
| CY2014Q2 | us-gaap |
Assets Fair Value Disclosure Nonrecurring
AssetsFairValueDisclosureNonrecurring
|
0 | |
| CY2014Q2 | us-gaap |
Billed Contract Receivables
BilledContractReceivables
|
9650000 | |
| CY2014Q1 | us-gaap |
Billed Contract Receivables
BilledContractReceivables
|
6113000 | |
| CY2014Q2 | us-gaap |
Unbilled Contracts Receivable
UnbilledContractsReceivable
|
656000 | |
| CY2014Q1 | us-gaap |
Unbilled Contracts Receivable
UnbilledContractsReceivable
|
1459000 | |
| CY2014Q2 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
16000 | |
| CY2014Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
16000 | |
| CY2014Q2 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
5101000 | |
| CY2014Q1 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
3304000 | |
| CY2014Q2 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
2471000 | |
| CY2014Q1 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
4047000 | |
| CY2014Q2 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
9147000 | |
| CY2014Q1 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
10275000 | |
| CY2014Q2 | us-gaap |
Inventory For Long Term Contracts Or Programs
InventoryForLongTermContractsOrPrograms
|
2689000 | |
| CY2014Q1 | us-gaap |
Inventory For Long Term Contracts Or Programs
InventoryForLongTermContractsOrPrograms
|
3068000 | |
| CY2014Q2 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
2554000 | |
| CY2014Q1 | amsc |
Accrued Inventories In Transit
AccruedInventoriesInTransit
|
212000 | |
| CY2014Q2 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
4801000 | |
| CY2014Q2 | us-gaap |
Payments For Restructuring
PaymentsForRestructuring
|
1078000 | |
| CY2014Q2 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
945000 | |
| CY2013Q1 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
199000 | |
| CY2013Q2 | us-gaap |
Restructuring Charges
RestructuringCharges
|
40000 | |
| CY2013Q2 | us-gaap |
Payments For Restructuring
PaymentsForRestructuring
|
125000 | |
| CY2013Q2 | us-gaap |
Adjustments Noncash Items To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
|
-38000 | |
| CY2013Q2 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
76000 | |
| CY2014Q2 | amsc |
Percentage Of Stock Discount
PercentageOfStockDiscount
|
0.85 | |
| CY2014Q2 | amsc |
Number Of Trading Days For Valuation Of Shares
NumberOfTradingDaysForValuationOfShares
|
P10D | |
| CY2013Q2 | amsc |
Non Cash Interest Expense Issuing Stock At Discount
NonCashInterestExpenseIssuingStockAtDiscount
|
100000 | |
| CY2014Q2 | us-gaap |
Interest Expense
InterestExpense
|
500000 | |
| CY2013Q2 | us-gaap |
Interest Expense
InterestExpense
|
2100000 | |
| CY2014Q2 | amsc |
Non Cash Interest Expense Amortization Of Debt Discount
NonCashInterestExpenseAmortizationOfDebtDiscount
|
200000 | |
| CY2013Q2 | amsc |
Non Cash Interest Expense Amortization Of Debt Discount
NonCashInterestExpenseAmortizationOfDebtDiscount
|
1700000 | |
| CY2014Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
6076000 | |
| CY2014Q2 | amsc |
Accrued Outside Services
AccruedOutsideServices
|
3272000 | |
| CY2014Q1 | amsc |
Accrued Outside Services
AccruedOutsideServices
|
3716000 | |
| CY2014Q2 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
288000 | |
| CY2014Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
290000 | |
| CY2014Q2 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
3155000 | |
| CY2014Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
5939000 | |
| CY2014Q2 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
200000 | |
| CY2014Q1 | us-gaap |
Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
|
173000 | |
| CY2014Q2 | us-gaap |
Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
|
403000 | |
| CY2014Q1 | us-gaap |
Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
|
402000 | |
| CY2014Q2 | us-gaap |
Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
|
2855000 | |
| CY2014Q1 | us-gaap |
Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
|
3207000 | |
| CY2014Q1 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
3207000 | |
| CY2013Q1 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
2709000 | |
| CY2014Q2 | us-gaap |
Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
|
-72000 | |
| CY2013Q2 | us-gaap |
Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
|
152000 | |
| CY2014Q2 | us-gaap |
Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
|
-280000 | |
| CY2013Q2 | us-gaap |
Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
|
-74000 | |
| CY2014Q2 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
2855000 | |
| CY2013Q2 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
2787000 | |
| CY2013Q3 | us-gaap |
Restructuring And Related Cost Number Of Positions Eliminated Period Percent
RestructuringAndRelatedCostNumberOfPositionsEliminatedPeriodPercent
|
0.07 | |
| CY2014Q2 | us-gaap |
Severance Costs1
SeveranceCosts1
|
1200000 | |
| CY2013Q2 | us-gaap |
Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
|
100000 | |
| CY2014Q1 | us-gaap |
Restructuring Reserve
RestructuringReserve
|
844000 | |
| CY2014Q2 | us-gaap |
Restructuring Charges
RestructuringCharges
|
1179000 | |
| CY2013Q4 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
10411000 | |
| CY2013Q3 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
10411000 | |
| CY2013Q2 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
14389000 | |
| CY2013Q1 | us-gaap |
Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
|
15380000 | |
| CY2013Q4 | us-gaap |
Share Price
SharePrice
|
1.64 | |
| CY2013Q3 | us-gaap |
Share Price
SharePrice
|
2.34 | |
| CY2013Q2 | us-gaap |
Share Price
SharePrice
|
2.64 | |
| CY2013Q1 | us-gaap |
Share Price
SharePrice
|
2.67 | |
| CY2013Q4 | amsc |
Percentage Volume Condition Met
PercentageVolumeConditionMet
|
0.8720 | |
| CY2013Q3 | amsc |
Percentage Volume Condition Met
PercentageVolumeConditionMet
|
0.8020 | |
| CY2013Q2 | amsc |
Percentage Volume Condition Met
PercentageVolumeConditionMet
|
0.8750 | |
| CY2013Q1 | amsc |
Percentage Volume Condition Met
PercentageVolumeConditionMet
|
0.8050 | |
| CY2013Q4 | us-gaap |
Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
|
0.6860 | |
| CY2013Q3 | us-gaap |
Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
|
0.6630 | |
| CY2013Q4 | invest |
Investment Warrants Expiration Date
InvestmentWarrantsExpirationDate
|
2019-05-15 | |
| CY2011Q2 | us-gaap |
Loss Contingency New Claims Filed Number
LossContingencyNewClaimsFiledNumber
|
7 | |
| CY2011Q2 | amsc |
Number Of Officers Putative Securities Filed Against
NumberOfOfficersPutativeSecuritiesFiledAgainst
|
2 | |
| CY2011Q2 | amsc |
Number Of Complaint Additionally Asserted Claims Against Underwriters
NumberOfComplaintAdditionallyAssertedClaimsAgainstUnderwriters
|
1 | |
| CY2013Q4 | us-gaap |
Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
|
10000000 | |
| CY2013Q2 | us-gaap |
Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
|
0.6580 | |
| CY2013Q1 | us-gaap |
Fair Value Assumptions Expected Volatility Rate
FairValueAssumptionsExpectedVolatilityRate
|
0.6690 | |
| CY2013Q4 | us-gaap |
Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
|
0.0012 | |
| CY2013Q3 | us-gaap |
Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
|
0.0010 | |
| CY2013Q2 | us-gaap |
Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
|
0.0021 | |
| CY2013Q1 | us-gaap |
Fair Value Assumptions Risk Free Interest Rate
FairValueAssumptionsRiskFreeInterestRate
|
0.0020 | |
| CY2013Q4 | us-gaap |
Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
|
0.1650 | |
| CY2013Q3 | us-gaap |
Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
|
0.1550 | |
| CY2013Q2 | us-gaap |
Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
|
0.1670 | |
| CY2013Q1 | us-gaap |
Fair Value Assumptions Expected Dividend Rate
FairValueAssumptionsExpectedDividendRate
|
0.1650 | |
| CY2013Q4 | amsc |
Fair Value Assumptions Recovery Rate
FairValueAssumptionsRecoveryRate
|
0.3500 | |
| CY2013Q3 | amsc |
Fair Value Assumptions Recovery Rate
FairValueAssumptionsRecoveryRate
|
0.3500 | |
| CY2013Q2 | amsc |
Fair Value Assumptions Recovery Rate
FairValueAssumptionsRecoveryRate
|
0.3700 | |
| CY2013Q1 | amsc |
Fair Value Assumptions Recovery Rate
FairValueAssumptionsRecoveryRate
|
0.3000 | |
| CY2014Q1 | amsc |
Fair Value Assumptions Redeemable
FairValueAssumptionsRedeemable
|
N/A | |
| CY2013Q4 | amsc |
Fair Value Assumptions Redeemable
FairValueAssumptionsRedeemable
|
yes | |
| CY2013Q3 | amsc |
Fair Value Assumptions Redeemable
FairValueAssumptionsRedeemable
|
yes | |
| CY2013Q2 | amsc |
Fair Value Assumptions Redeemable
FairValueAssumptionsRedeemable
|
yes | |
| CY2013Q1 | amsc |
Fair Value Assumptions Redeemable
FairValueAssumptionsRedeemable
|
yes | |
| CY2013Q4 | us-gaap |
Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
|
P9M | |
| CY2013Q3 | us-gaap |
Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
|
P1Y | |
| CY2013Q2 | us-gaap |
Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
|
P1Y3M4D | |
| CY2013Q1 | us-gaap |
Fair Value Assumptions Expected Term
FairValueAssumptionsExpectedTerm
|
P1Y6M4D | |
| CY2014Q1 | amsc |
Fair Value Assumptions Dilution Effect
FairValueAssumptionsDilutionEffect
|
N/A | |
| CY2013Q4 | amsc |
Fair Value Assumptions Dilution Effect
FairValueAssumptionsDilutionEffect
|
yes | |
| CY2013Q3 | amsc |
Fair Value Assumptions Dilution Effect
FairValueAssumptionsDilutionEffect
|
yes | |
| CY2013Q2 | amsc |
Fair Value Assumptions Dilution Effect
FairValueAssumptionsDilutionEffect
|
yes | |
| CY2013Q1 | amsc |
Fair Value Assumptions Dilution Effect
FairValueAssumptionsDilutionEffect
|
yes | |
| CY2013Q3 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
200000 | |
| CY2013Q2 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
500000 | |
| CY2013Q1 | us-gaap |
Derivative Liabilities
DerivativeLiabilities
|
500000 | |
| CY2013Q4 | amsc |
Convertible Notes Fair Value As Percentage Of Par Value
ConvertibleNotesFairValueAsPercentageOfParValue
|
0.0002 | |
| CY2013Q3 | amsc |
Convertible Notes Fair Value As Percentage Of Par Value
ConvertibleNotesFairValueAsPercentageOfParValue
|
0.0070 | |
| CY2013Q2 | amsc |
Convertible Notes Fair Value As Percentage Of Par Value
ConvertibleNotesFairValueAsPercentageOfParValue
|
0.033 | |
| CY2013Q1 | amsc |
Convertible Notes Fair Value As Percentage Of Par Value
ConvertibleNotesFairValueAsPercentageOfParValue
|
0.034 | |
| amsc |
Convertible Debt Instrument Redemption Waiting Period
ConvertibleDebtInstrumentRedemptionWaitingPeriod
|
P1Y | ||
| amsc |
Convertible Debt Instrument Contractual Term
ConvertibleDebtInstrumentContractualTerm
|
P30M | ||
| CY2012Q2 | invest |
Investment Warrants Expiration Date
InvestmentWarrantsExpirationDate
|
2017-12-05 | |
| CY2014Q2 | us-gaap |
Insurance Settlements Receivable
InsuranceSettlementsReceivable
|
8200000 | |
| CY2014Q2 | amsc |
Settlement Amount Expected To Be Paid By Issuance Of Common Stock
SettlementAmountExpectedToBePaidByIssuanceOfCommonStock
|
1800000 | |
| CY2014Q2 | us-gaap |
Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
|
944882 | |
| CY2014Q2 | amsc |
Shortfall Payment
ShortfallPayment
|
500000 | |
| CY2011Q3 | amsc |
Loss Contingency Number Of Claims Consolidated
LossContingencyNumberOfClaimsConsolidated
|
3 | |
| CY2014Q2 | us-gaap |
Line Of Credit Facility Amount Outstanding
LineOfCreditFacilityAmountOutstanding
|
2700000 | |
| CY2014Q2 | us-gaap |
Line Of Credit Facility Amount Outstanding
LineOfCreditFacilityAmountOutstanding
|
3700000 | |
| CY2014Q2 | us-gaap |
Number Of Reportable Segments
NumberOfReportableSegments
|
2 | |
| CY2014Q2 | amsc |
Business Segments Power Of Wind Turbines
BusinessSegmentsPowerOfWindTurbines
|
2 |
