<SEC-DOCUMENT>0000950123-11-075904.txt : 20110811
<SEC-HEADER>0000950123-11-075904.hdr.sgml : 20110811
<ACCEPTANCE-DATETIME>20110811083031
ACCESSION NUMBER:		0000950123-11-075904
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20110811
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Cost Associated with Exit or Disposal Activities
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20110811
DATE AS OF CHANGE:		20110811

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:		111025985

	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>b87693e8vk.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>FORM 8-K</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&nbsp;13 or 15(d) of<BR>
The Securities Exchange Act of 1934</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Date of Report (Date of earliest event reported):<BR>
August&nbsp;11, 2011</B>
</DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>American Superconductor Corporation</B>
</DIV>

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


<DIV align="center">
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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>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or other jurisdiction <BR>
of incorporation)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Commission<BR>
File Number)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(IRS Employer<BR>
Identification No.)</TD>
</TR>
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</TABLE>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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    <TD width="47%">&nbsp;</TD>
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    <TD width="47%">&nbsp;</TD>
</TR>
<TR></TR>
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<TR valign="bottom">
    <TD align="center" valign="top">64 Jackson Road <BR>
Devens, Massachusetts
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">01434</TD>
</TR>
<TR style="font-size: 1px">
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 1px solid #000000">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(Address of principal executive offices)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(Zip Code)</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
Registrant&#146;s telephone number, including area code <U><B>(978)&nbsp;842-3000</B></U></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt">
Not Applicable<BR>

(Former name or former address, if changed since last report.)</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 (see General Instruction
A.2. below):</DIV>

<DIV align="left" style="margin-top: 6pt">
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    <TD></TD>
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<TR>
    <TD valign="top"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425)
</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
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    <TD></TD>
</TR>

<TR>
    <TD valign="top"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12)
</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
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    <TD></TD>
</TR>

<TR>
    <TD valign="top"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD>&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>
</TABLE>
</DIV>

<DIV align="left" style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>

<TR>
    <TD valign="top"><FONT style="font-family: Wingdings">&#111;</FONT></TD>
    <TD>&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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<!-- link2 "Item&nbsp;2.02. Results of Operations and Financial Condition" -->

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;2.02.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Results of Operations and Financial Condition</B></TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On August&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 quarter ended June&nbsp;30,
2011. A copy of the press release is furnished as Exhibit&nbsp;99.1 hereto.</DIV>

<!-- link2 "Item&nbsp;2.05. Costs Associated with Exit or Disposal Activities." -->

<DIV align="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;2.05.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Costs Associated with Exit or Disposal Activities.</B></TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">On August&nbsp;11, 2011, the Company informed affected employees of the Company&#146;s plan to reduce its
global workforce by approximately 150 positions. These reductions, collectively with all other
reductions made by the Company since March&nbsp;31, 2011, represent a total reduction of the Company&#146;s
(i)&nbsp;global workforce of approximately 30&nbsp;percent, and (ii)&nbsp;annualized expenses by approximately $30
million. These reductions are being made to better align costs with the Company&#146;s near-term revenue
expectations, which have been affected by business and contractual issues with the Company&#146;s largest customer,
Sinovel Wind Group Co., Ltd.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The workforce reduction takes effect immediately.
The Company expects to incur restructuring
charges of $3&nbsp;million to $4&nbsp;million for severance and related expenses in the quarter ended September&nbsp;30,
2011.</DIV>

<!-- link2 "Item&nbsp;9.01. Financial Statements and Exhibits." -->

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<TR valign="top">
    <TD nowrap align="left"><B>Item&nbsp;9.01.</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Financial Statements and Exhibits.</B></TD>
</TR>
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(d)&nbsp;Exhibits:</DIV>

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    <TD width="84%">&nbsp;</TD>
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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>No.</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
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<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">99.1</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD valign="top" style="font-size: 10pt">&nbsp;</TD>
    <TD valign="top" style="font-size: 10pt"><DIV style="margin-left:0px; text-indent:-0px">Press Release, dated August&nbsp;11, 2011 (furnished, not
&#147;filed,&#148; for purposes of Section&nbsp;18 of the Securities Exchange Act
of 1934, as amended).</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Forward-Looking Statements</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Any statements in this current report about future expectations, plans and prospects for the
Company, including without limitation our expectations regarding charges for severance and related
expenses and other statements containing the words &#147;believes,&#148; &#147;anticipates,&#148; &#147;plans,&#148; &#147;expects,&#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
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 have been derived from a single customer, Sinovel, and any failure by this
customer (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</DIV>


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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">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; 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; 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 additional costly
litigation against us that could further 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 United
States, 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 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 report represent the Company&#146;s expectations as of the
date of this report. 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 of this report.</DIV>


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<!-- link1 " SIGNATURES" -->

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><U>AMERICAN&nbsp;SUPERCONDUCTOR&nbsp;CORPORATION</U><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">Date: August 11, 2011&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/David A. Henry
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">David A. Henry&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left"><I>Senior Vice President and
Chief Financial Officer</I>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


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<DIV align="right" style="font-size: 10pt; margin-top: 12pt"><B>Exhibit&nbsp;99.1</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><IMG src="b87693b8769300.gif" alt="(American Superconductor logo)">
</DIV>


<DIV align="center" style="font-size: 14pt; margin-top: 18pt"><B>AMERICAN SUPERCONDUCTOR ANNOUNCES<BR>
WORKFORCE REDUCTION</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="96%">&nbsp;</TD>
</TR>
<TR></TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">-
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Efforts Undertaken to Offset Lowered Revenues</I></TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">-
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Expected to Result in Annualized Cost Savings of $30 Million</I></TD>
</TR>
<TR valign="bottom">
    <TD align="right" valign="top"><DIV style="margin-left:0px; text-indent:-0px">-
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><I>Company to Submit Plan to Regain Compliance with Nasdaq Listing Rules</I></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>DEVENS, Mass., August&nbsp;11, 2011 </B>&#151; American Superconductor Corporation (NASDAQ: AMSC), a global
power technologies company, announced that it has reduced its global workforce by approximately 30
percent and its annualized expenses by approximately $30&nbsp;million since March&nbsp;31, 2011. These
reductions were made to better align costs with the company&#146;s revenue expectations, which have been
affected by business and contractual issues with AMSC&#146;s largest customer, Sinovel Wind Group Co.,
Ltd. AMSC expects to report a significant net loss on revenues of less than $10&nbsp;million for the
fiscal quarter ended June&nbsp;30, 2011.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As part of the action described above, the company announced today that it is eliminating 150
positions across the organization. Upon completion of the action, AMSC expects to employ nearly
600 people worldwide. AMSC expects to incur restructuring charges of $3&nbsp;million to $4&nbsp;million for
severance and related expenses in the quarter ended September&nbsp;30, 2011.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&#147;These workforce reductions are necessary to maintain the health of the business in the wake of our
business and contractual issues with Sinovel,&#148; said AMSC President and Chief Executive Officer
Daniel McGahn. &#147;Expenses have been reduced in virtually all departments, levels and major
geographies, but we have focused on limiting the impact on customer-facing and research and
development functions, which are integral to our growth and diversification initiatives.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In addition, the company announced today that, by August&nbsp;16, 2011, it plans to submit to the Nasdaq
Stock Market a plan to regain compliance with Nasdaq Stock Market listing rules. AMSC continues to
work on its 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 and the
fiscal quarter ended June&nbsp;30, 2011.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>About American Superconductor (NASDAQ: AMSC)</B><BR>
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 www.amsc.com.
</DIV>



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<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
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<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">AMSC Announces Workforce Reduction
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Page 2</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><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 results of operations for the quarterly
period ended June&nbsp;30, 2011, charges for severance and related expenses, the filing of our audited
financial statements and 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 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 have been derived from a single
customer, Sinovel, and any failure by this customer (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; 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; 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 additional costly litigation against us
that could further 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 United States, 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 eco
nomic 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 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
release represent the company&#146;s expectations 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 of this release.</I>
</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="47%"></TD>
    <TD width="5%"></TD>
    <TD width="47%"></TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD align="left" valign="top">AMSC Announces Workforce Reduction
</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Page 3</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>AMSC Contact:</B>
</DIV>


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

</DIV>


<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>




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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
