American Superconductor Corporation (NASDAQ:AMSC) Q2 2018 Earnings Conference Call Transcript
Nov 07, 2018 • 10:00 am ET
Good day, and welcome to AMSC's Second Quarter Fiscal 2018 Earnings Conference Call. This call is being recorded. All participants will be in a listen only mode until we reach the question-and-answer session. With us on the call this morning are AMSC Chairman, President and CEO, Daniel McGahn; SVP and CFO, John Kosiba; and partner at LHA and AMSC IR newly added member, John Heilshorn.
For opening remarks, I would like to turn the call over to John Heilshorn. Please go ahead, sir.
Thank you, Todd. Good morning, everyone, and welcome to AMSC's second quarter fiscal 2018 earnings conference call. I'm John Heilshorn, partner at LHA, and part of AMSC's IR team. With us on today's call are Daniel McGahn, Chairman, President and CEO; and John Kosiba, SVP and CFO. AMSC issued its earnings release for the second quarter of fiscal 2018 yesterday after the market closed. For those of you who have not seen the release, a copy is available together with all of our prior press releases at SEC filings in the IR section of the company's website at www.amsc.com.
(Forward-Looking Cautionary Statement)
Also on today's call, management will refer to non-GAAP net loss or net income or loss before sale of minority investments, stock-based compensation, gain on Sinovel settlement, amortization of acquisition-related intangibles, change in fair value of warrants and contingent consideration, non-cash interest expense, tax effect of adjustments, and the other non-cash or unusual charges or items and non-GAAP operating cash flow or operating cash flow before Sinovel settlement, net of legal fees and expenses, tax effect of adjustments and other unusual cash flow items.
Non-GAAP net loss and non-GAAP operating cash flow are non-GAAP financial metrics. The reconciliation of GAAP net income or loss to non-GAAP net loss and GAAP operating cash flow to non-GAAP operating cash flow can be found in the press release that was issued and furnished to the SEC last night on Form 8-K. Finally, I'd like to inform everyone that AMSC's Chairman, President and CEO Daniel McGahn will participate in the upcoming Craig-Hallum Alpha Select Conference, which is being held on November 15th in New York City.
With that, I will now turn the call over to Daniel. Good morning, Daniel.
Thanks, John, good morning, everyone, and, John, welcome to the team. I'll begin today by providing an update on our Wind and Grid businesses. John Kosiba will then provide a detailed review of our financial results for the second fiscal quarter, which ended September 30th, 2018 and provide guidance for the third fiscal quarter, which will end December 31st, 2018. Following our comments, we'll open up the line to questions from our analysts.
In the September quarter, we generated more than $1 million in operating cash flow, not including the litigation settlement. Revenue came in at the top of our guidance range. Wind and Grid revenues grew year-on-year. We believe that we're on track to achieve our fiscal 2018 objectives of year-to-year growth for both segments. The quantities of ECS