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AMERICAN SUPERCONDUCTOR REPORTS REVENUES FOR ITS FIRST QUARTER

 AMERICAN SUPERCONDUCTOR REPORTS REVENUES FOR ITS FIRST QUARTER
 WATERTOWN, Mass., July 30 /PRNewswire/ -- American Superconductor Corp. (NASDAQ: AMSC) today reported revenues for its first quarter, ended June 30, 1992, of $687,730, with a net loss of $610,859, or 12 cents per share.
 In addition to reported revenues, the company recorded another $133,000 under a cost-sharing agreement during its first quarter. The funds, for development and delivery of superconducting coils to Oak Ridge National Laboratory, were used directly to offset R&D expenses.
 For the same period the previous year, the firm posted revenues of $811,859 with a net loss of $348,162, or 12 cents per share. The company said the decrease in revenue compared to the same period the previous year was due primarily to timing differences in work performed under its development contract with Cables Pirelli, S.A.
 According to Gregory J. Yurek, president and CEO of American Superconductor, the firm is making excellent progress against its business plan as outlined at the time of its public offering last year. As planned, the company anticipates wider losses this year as it continues to expand its R&D and manufacturing engineering programs.
 "We begin our new fiscal year on a very positive and productive note," he said. "In our ongoing efforts to move high temperature superconductor technology toward commercialization, we are ramping up our research efforts in materials science and in wire and coil development. We are also expanding the capacity of our pilot manufacturing lines for both wires and coils.
 "During our first quarter, we announced the granting of a patent for our metallic precursor process, giving us exclusive rights worldwide to this key manufacturing technology. We also developed new affiliations with a pair of distinguished individuals in business, science and technology. Frank Borman, chairman and CEO of Patlex Corporation, was appointed to our board of directors, and Nobel Prize-winning scientist Dr. K. Alex Mueller was named to our Technical Advisory Board.
 "As we progress through our fiscal year, we will continue our commitment to developing our scientific and technical foundations."
 American Superconductor Corporation develops and applies high temperature superconductor technology to create compact, cost-effective electric power and magnet systems. The firm is the largest industrial effort in the world dedicated to transferring the technology to commercial applications.
 AMERICAN SUPERCONDUCTOR CORPORATION
 Earnings Report
 Quarter Ended June 30 1992 1991
 Revenues $687,730 $811,859
 Net Loss $610,859 $348,162
 Loss Per Share $0.12 $0.12
 -0- 7/30/92
 /CONTACT: Gregory J. Yurek or Ed Hamilton of American Superconductor Corp., 617/923-1122, or Jack Jackson or Carol DeMatteo of Miller Communications, 617-536-0470, for American Superconductor/
 (AMSC) CO: American Superconductor Corp. ST: Massachusetts IN: CPR SU: ERN


SH -- NE012 -- 4957 07/30/92 09:19 EDT
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Date:Jul 30, 1992
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