AMSC reports higher revenues than last year in first quarter report of 2020

by Aug 6, 2020

AMSC has reported a revenue of $ 21.2 Million in the first quarter of 2020 which is higher than first quarter of year 2019. The major component which contributed to this figure were the orders for D-VAR STATCOM. In last year’s first quarter, AMSC reported total revenue of $13.8 Million out of which $ 10 Million came from 4 STATCOM orders which AMSC supplied to industrial and renewable energy segments. This year AMSC has reported an increase of 80% in grid segment orders which means that from $ 21.2 Million, about $ 18 Million came from grid segment which represents affinity of D-VAR STATCOM systems in various industry verticals. Link to the news: