<SEC-DOCUMENT>0000950123-11-064934.txt : 20110711
<SEC-HEADER>0000950123-11-064934.hdr.sgml : 20110711
<ACCEPTANCE-DATETIME>20110711163027
ACCESSION NUMBER:		0000950123-11-064934
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20110706
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20110711
DATE AS OF CHANGE:		20110711

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN SUPERCONDUCTOR CORP /DE/
		CENTRAL INDEX KEY:			0000880807
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTORS & GENERATORS [3621]
		IRS NUMBER:				042959321
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-19672
		FILM NUMBER:		11961946

	BUSINESS ADDRESS:	
		STREET 1:		SIXTY FOUR JACKSON ROAD
		CITY:			DEVENS
		STATE:			MA
		ZIP:			01434
		BUSINESS PHONE:		9788423000

	MAIL ADDRESS:	
		STREET 1:		SIXTY FOUR JACKSON ROAD
		CITY:			DEVENS
		STATE:			MA
		ZIP:			01434
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>b87245e8vk.htm
<DESCRIPTION>FORM 8-K
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<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>




<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>WASHINGTON, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
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<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM 8-K</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>CURRENT REPORT</B>
</DIV>


<DIV align="center" style="font-size: 12pt; margin-top: 12pt"><B>PURSUANT TO SECTION 13 OR 15(d) OF<BR>
THE SECURITIES EXCHANGE ACT OF 1934</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><!-- xbrl,dc --><B>Date of report (Date of earliest event reported): July&nbsp;6, 2011</B><!-- /xbrl,dc -->
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>
<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>American Superconductor Corporation</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><B>(Exact name of registrant as specified in its charter)</B></DIV>


<DIV align="center" style="font-size: 10pt"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV></DIV>


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    <TD align="center" valign="top"><B>DELAWARE</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>0-19672</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>04-2959321</B></TD>
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    <TD>&nbsp;</TD>
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<TR valign="bottom">
    <TD align="center" valign="top"><B>(State or Other Jurisdiction</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>(Commission File Number)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>(IRS Employer</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top"><B>of Incorporation)</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>Identification No.)</B></TD>
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<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>64 Jackson Road<BR>
Devens, MA 01434<BR>
(Address of Principal Executive Offices) (Zip Code)</B>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>Registrant&#146;s telephone number, including area code: (978)&nbsp;842-3000</B>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>(Former Name or Former Address, if Changed Since Last Report)</B>
</DIV>

<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><DIV align="center"><DIV style="FONT-size: 3pt; margin-top: 16pt; width: 26%; border-top: 1px solid #000000">&nbsp;</DIV></DIV>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy
the filing obligation of the registrant under any of the following provisions:
</DIV>


<DIV style="margin-top: 6pt">
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    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)</TD>
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    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD>
</TR>

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    <TD style="font-size: 6pt">&nbsp;</TD>
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    <TD width="3%" nowrap align="left"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD>
</TR>

</TABLE>
</DIV>

<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>















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<!-- link1 "ITEM 2.02 Results of Operations and Financial Condition" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 2.02 Results of Operations and Financial Condition</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On July&nbsp;11, 2011, American Superconductor Corporation (the &#147;Company&#148;) issued a press release
announcing certain matters relating to its expected results for the fiscal year ended March&nbsp;31,
2011. A copy of the press release is furnished as Exhibit&nbsp;99.1 hereto.
</DIV>

<!-- link1 "ITEM 4.02(a) Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 4.02(a) Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On July&nbsp;6, 2011, the Audit Committee of the Board of Directors of the Company concluded that the
financial statements contained in the Company&#146;s Quarterly Reports on Form 10-Q for the fiscal
quarters ended September&nbsp;30, 2010 and December&nbsp;31, 2010 should no longer be relied upon. The
Company has determined that revenues were incorrectly recorded as collectability was not reasonably
assured at the time of shipment for certain of the Company&#146;s customers in China during these
quarters. For these customers, the Company plans to restate revenues based on a cash basis of
accounting and expects to record revenues only to the extent that payment was received or otherwise
reasonably assured during the quarter. For certain Chinese customers other than Sinovel Wind Group Co., Ltd.
(&#147;Sinovel&#148;), the Company has determined that this method of accounting should have been applied for shipments after
August&nbsp;31, 2010. For Sinovel, the Company has determined that this method of accounting should
have been applied for shipments after September&nbsp;30, 2010. The Company had previously recognized
revenues in the fiscal quarters ended September&nbsp;30, 2010 and December&nbsp;31, 2010 based upon customer
receipt of shipments and prior to its receipt of payment for such shipments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company expects that revenues for the fiscal quarter ended September&nbsp;30, 2010 and December&nbsp;31,
2010 will be reduced to approximately $98&nbsp;million and $43&nbsp;million, respectively. For the fiscal
year ended March&nbsp;31, 2011, the Company expects that revenues will be approximately $307&nbsp;million.
These amounts are preliminary and subject to further adjustment in connection with the Company&#146;s
restatement of its financial statements and the audit of its financial statements by the Company&#146;s
independent registered public accounting firm, PricewaterhouseCoopers LLP (&#147;PwC&#148;). The Company is
in the process of determining the impact of the errors in revenue on other financial statement
balances in the fiscal quarters ended September&nbsp;30, 2010 and December&nbsp;31, 2010 and the fiscal year
ended March&nbsp;31, 2011.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company intends to file restated financial statements for the fiscal quarters ended September
30, 2010 and December&nbsp;31, 2010 and its financial statements for the fiscal year ended March&nbsp;31,
2011 as soon as practicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In connection with these restatements, management is in the process of evaluating deficiencies in
its internal control over financial reporting and has preliminarily determined that the Company may
have one or more material weaknesses in its internal control over financial reporting to ensure the
accuracy of revenue recognition in China. In particular, the Company identified deficiencies in
its controls to evaluate and monitor customer creditworthiness and in its controls over the
identification and evaluation of revenue transactions which deviated from contractually established
payment terms in accordance with United States generally accepted accounting principles. As a
result of these deficiencies, the Company&#146;s disclosure controls and procedures were not effective
as of the fiscal quarters ended September&nbsp;30, 2010 and December&nbsp;31, 2010. Currently, the Company is in
the process of designing and implementing controls to remediate these deficiencies, which have not
been remediated as of the fiscal year ended March&nbsp;31, 2011.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Audit Committee of the Company has discussed with PwC the matters disclosed in this Form 8-K
pursuant to Item&nbsp;4.02(a).
</DIV>

<!-- link1 "ITEM 9.01 Financial Statements and Exhibits" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>ITEM 9.01 Financial Statements and Exhibits</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><i>(d)&nbsp;Exhibits.</i>
</DIV>

<DIV align="center">
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<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000"><B>Number</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

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    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Press Release, dated July&nbsp;11, 2011, issued
by American Superconductor Corporation
(furnished, not &#147;filed,&#148; for purposes of
Section&nbsp;18 of the Securities Exchange Act of
1934, as amended)</DIV></TD>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt">SIGNATURE
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>

<DIV align="center">
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<TR valign="bottom">
    <TD valign="top">Date: July&nbsp;11, 2011</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" valign="top" align="left">AMERICAN SUPERCONDUCTOR CORPORATION</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">By:</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ David A. Henry</TD>
</TR>
<TR style="font-size: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">David A. Henry</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Senior Vice President and Chief Financial Officer</I></TD>
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.1</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="47%"></TD>
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    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top"><IMG src="b87245b8724501.gif" alt="(AMERICAN SUPERCONDUCTOR LOGO)">
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Press Release</TD>
</TR>
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</TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>AMERICAN SUPERCONDUCTOR TO RESTATE FINANCIAL<BR>
STATEMENTS FOR SECOND AND THIRD QUARTERS OF FISCAL 2010</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>DEVENS, Mass., July&nbsp;11, 2011 </B>&#151; American Superconductor Corporation (NASDAQ: AMSC), a global
power technologies company, today announced that its financial statements included in the Quarterly
Reports on Form 10-Q for the fiscal quarters ended September&nbsp;30, 2010 and December&nbsp;31, 2010 should
no longer be relied upon. AMSC has determined that revenues associated with unpaid shipments to
certain Chinese customers, excluding Sinovel Wind Group Co., Ltd. (Sinovel), after August&nbsp;31, 2010 should not be recognized until
AMSC is paid, or payment is otherwise reasonably assured, for such shipments. With respect to
Sinovel, AMSC has determined that this cash-based method of accounting should have been applied for shipments
after September&nbsp;30, 2010. AMSC had previously recognized revenues in the second and third fiscal
quarters based upon customer receipt of shipments but prior to its receipt of payment for such
shipments. AMSC reported that no shipments were made to Sinovel and no payments were received from
this customer during the first quarter of fiscal 2011.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The company expects that revenues for the fiscal quarters ended September&nbsp;30, 2010 and December&nbsp;31,
2010 will be reduced to approximately $98&nbsp;million and $43&nbsp;million, respectively. For the fiscal
year ended March&nbsp;31, 2011, the company expects that revenues will be approximately $307&nbsp;million.
These amounts are preliminary and subject to further adjustment in connection with the company&#146;s
restatement of its financial statements and the audit of its financial statements by the company&#146;s
independent registered public accounting firm, PricewaterhouseCoopers LLP. The company is in the
process of determining the impact of the errors in revenue on other financial statement balances in
the fiscal quarters ended September&nbsp;30, 2010 and December&nbsp;31, 2010 and the fiscal year ended March
31, 2011.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">AMSC has not yet completed the preparation of its financial statements for the fiscal year ended
March&nbsp;31, 2011. The company intends to file restated financial statements for the fiscal quarters
ended September&nbsp;30, 2010 and December&nbsp;31, 2010 and its financial statements for the fiscal year
ended March&nbsp;31, 2011 as soon as practicable.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>About American Superconductor (NASDAQ: AMSC)</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">AMSC offers an array of proprietary technologies and solutions spanning the electric power
infrastructure &#151; from generation to delivery to end use. The company is a leader in <U>renewable
energy</U>, providing proven, megawatt-scale wind turbine designs and electrical control systems.
The company also offers a host of <U>Smart Grid</U> technologies for power grid operators that
enhance the reliability, efficiency and capacity of the grid, and seamlessly integrate renewable
energy sources into the power infrastructure. These include superconductor power cable systems,
grid-level surge protectors and power electronics-based voltage stabilization systems. AMSC&#146;s
technologies are protected by a broad and deep intellectual property portfolio consisting of
hundreds of patents and licenses worldwide. More information is available at <U>www.amsc.com</U>.
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"># # # #
</DIV>


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    <TD>&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="left" valign="top">AMSC To Restate Its Second and Third Quarters For Fiscal Year 2010
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Page 2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
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<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><I>American Superconductor and design, Revolutionizing the Way the World Uses Electricity, AMSC,
Powered by AMSC, Amperium, D-VAR, dSVC, FaultBlocker, PowerModule, PowerPipelines, PQ-IVR, PQ-SVC,
SeaTitan, SolarTie, SuperGEAR and Windtec and design are trademarks or registered trademarks of
American Superconductor Corporation or its subsidiaries. All other brand names, product names or
trademarks belong to their respective holders.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Any statements in this release about future expectations, plans and prospects for the company,
including without limitation our expectations regarding the filing of restated financial statements
for the fiscal quarters ended September&nbsp;30, 2010 and December&nbsp;31, 2010, the preparation of
financial statements for the fiscal year ended March&nbsp;31, 2011 and the filing of our Annual Report
on Form 10-K for the fiscal year ended March&nbsp;31, 2011, the financial performance of the company and
other statements containing the words &#147;believes,&#148; &#147;anticipates,&#148; &#147;plans,&#148; &#147;expects,&#148; &#147;will&#148; and
similar expressions, constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. There are a number of important factors that could
materially impact the value of our common stock or cause actual results to differ materially from
those indicated by such forward-looking statements. Such factors include: we may be subject to
restatement of financial information from prior periods, identification of deficiencies in our
internal control over financial reporting or disclosure control and procedures, and/or additional
unanticipated accounting, audit and internal control issues; we have a history of operating losses,
and we may incur losses in the future; our operating results may fluctuate significantly from
quarter to quarter and may fall below expectations in any particular fiscal quarter, including any
expectations resulting from financial guidance issued by us; a significant portion of our revenues
are derived from Sinovel, and revenues from Sinovel may decline in future periods; any failure by
Sinovel (or other customers) to honor contractual obligations to accept products or to pay for
products may have a material adverse impact on our financial condition or results from operations;
adverse changes in domestic and global economic conditions could adversely affect our business;
changes in exchange rates could adversely affect our financial results; we may not realize all of
the sales expected from our backlog of orders and contracts; we rely upon third party suppliers for
the components and subassemblies of many of our products, making us vulnerable to supply shortages
and price fluctuations; we may require significant additional funding and may be unable to raise
capital when needed, which could force us to delay, reduce, or eliminate planned activities,
including the planned acquisition of The Switch; failure to complete the planned acquisition of The
Switch could harm our operating results and could cause our stock price to decline; completion of
the planned acquisition of The Switch could present certain risks to our business; we may acquire
additional complementary businesses or technologies that may require us to incur substantial costs
for which we may never realize the anticipated benefits; our common stock has experienced, and may
continue to experience, significant market price and volume fluctuations, which may prevent our
stockholders from selling our common stock at a profit and could lead to costly litigation against
us that could divert our management&#146;s attention; if we fail to implement our business strategy, our
financial performance could be harmed and our growth could slow or stop; our products face intense
competition, which could limit our ability to acquire or retain customers; our international
operations are subject to risks that we do not face in the U.S., which could have an adverse effect
on our operating results; we depend on sales to China, and global conditions could negatively
affect our operating results or limit our ability to expand our operations outside of China;
changes in China&#146;s political, social, regulatory and economic environment may affect our financial
performance; problems with product quality or product performance may cause us to incur warranty
expenses and may damage our market reputation and prevent us from achieving increased sales and
market share; our success in addressing the wind energy market is dependent on the manufacturers
that license our designs; we have been named as a party to purported stockholder class actions and
a shareholder derivative complaints, and we may be named in additional litigation, all of which
will require significant management time and attention and result in significant legal expenses and
may result in an unfavorable outcome, which could have a material adverse effect on our business,
operating results and financial condition; we have not manufactured our Amperium wire in commercial
quantities, and a failure to manufacture our Amperium wire in commercial quantities at acceptable
cost and quality levels would substantially limit our future revenue and profit potential; and our
patents may not provide meaningful protection for our technology, which could result in us losing
some or all of our market position. Reference is made to many of these factors and others in the
&#147;Risk Factors&#148; section of the company&#146;s most recent quarterly or annual report filed with the
Securities and Exchange Commission. In addition, any forward-looking statements included in this
press release represent the company&#146;s views as of the date of this release. While the company
anticipates that subsequent events and developments may cause the company&#146;s views to change, the
company specifically disclaims any obligation to update these forward-looking statements. These
forward-looking statements should not be relied upon as representing the company&#146;s views as of any
date subsequent to the date this press release is issued.</I>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>AMSC Contact:</B><BR>
Jason Fredette<BR>
Phone: 978-842-3177<BR>
Email: jfredette@amsc.com

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
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#```[
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
