(Corrects to say wider loss is from job cuts in headline, and first and third paragraphs of story published Nov. 30)
Nov. 30 (Bloomberg) -- American Superconductor Corp.’s severance costs will increase its loss in the current quarter.
The company expects a net loss of less than $33 million this quarter, Chief Executive Officer Dan McGahn said today. AMSC, based in Devens, Massachusetts, forecast a net loss of less than $30 million when it reported quarterly results Nov. 9.
McGahn said AMSC will incur less than $3 million in costs related to job cuts as it recovers from losing its largest customer, Sinovel Wind Group Co., widening its anticipated loss. McGahn spoke in a presentation at the Baird Clean Technology Conference in San Francisco.
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