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AMSC (NASDAQ: AMSC) reported financial results for its first quarter of fiscal year 2012 ended June 30, 2012. Revenues for the first quarter of fiscal 2012 were $28.7 million, which compares with $9.1 million for the first quarter of fiscal 2011. The year-over-year increase was driven by strong growth in the company's Wind and Grid reporting segments. For the first quarter of fiscal 2012, AMSC reported a net loss of $10.3 million, or $0.20 per share. This figure includes a non-cash benefit of approximately $7.3 million for the settlement of adverse purchase commitments with certain vendors as well as a $2.4 million non-cash "mark-to-market" charge driven by the re-valuation of the derivative liability and warrants associated with the company's recently completed debt financings. For the first quarter of fiscal 2011, AMSC‘s net loss was $37.7 million, or $0.74 per share.
The company's non-GAAP net loss for the first quarter of fiscal 2012 was $10.2 million, or $0.20 per share. This compares with a non-GAAP net loss of $30.8 million, or $0.61 per share, for the first quarter of fiscal 2011. Please refer to the financial table below for a reconciliation of GAAP to non-GAAP results.
AMSC's cash, cash equivalents, marketable securities and restricted cash at June 30, 2012 totaled $87.1 million. This compares with $66.2 million as of March 31, 2012. The increase in cash, cash equivalents, marketable securities and restricted cash was driven by the financings that were completed and announced in the first quarter of fiscal 2012. The company‘s total backlog as of June 30, 2012 was approximately $269 million. This compares with ap- proximately $291 million as of March 31, 2012 and $225 million as of June 30, 2011.
Applied Nanotech Holdings, Inc. (OTCBB: APNT), introduced a new copper ink material based on micron copper particles for low-cost direct printing of electronic circuits for mobile devices, solar cells, display devices, and more. The new microcopper ink material joins Applied Nanotech’s award-winning nanocopper ink, which won an R&D 100 award from R&D Magazine in 2010. The novel copper ink is specially designed to replace expensive silver-based conductors for rapidly developing applications in the printed electronics industry. Applied Nanotech’s microcopper ink has an optimal combination of high conductivity and ease of processing that allows for direct replacement of silver inks and pastes at significantly lower cost.
Recently, the US Army has awarded a contract for $275, 642 to Applied Nanotech Holdings to develop a line of glass fiber-reinforced composite panels to protect buildings from damage on a variety of fronts.
http://www.appliednanotech.net/
Arrowhead Research Corporation (NASDAQ: ARWR), a targeted therapeutics company, announced financial results for its fiscal 2012 third quarter ended June 30, 2012. For the quarter ended June 30, 2012, Arrowhead reported revenues of $47,917. There was no revenue in the comparable prior period. Net loss attributable to Arrowhead for the quarter ended June 30, 2012 was $8.0 million, or $0.71 per share based on 11,238,291 weighted average shares outstanding.