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Last $3.98 USD
Change Today -0.06 / -1.49%
Volume 128.8K
BWEN On Other Exchanges
Symbol
Exchange
Frankfurt
As of 5:20 PM 05/4/15 All times are local (Market data is delayed by at least 15 minutes).

broadwind energy inc (BWEN) Key Developments

Broadwind Energy, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reports Impairment Charges for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter of 2015; Provides Capital Expenditure Guidance for the Year of 2015

Broadwind Energy, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company's revenues were $51,051,000 against $58,800,000 for the same period a year ago. Operating loss was $4,978,000 against $995,000 for the same period a year ago. Net loss from continuing operations before provision for income taxes was $4,938,000 against $1,019,000 for the same period a year ago. Net loss was $5,105,000 or $0.34 per basic and diluted share compared to $1,043,000 or $0.07 per basic and diluted share a year ago. The $0.27 per share reduction was due to weaker Towers and Weldments segment results, partially offset by improvements in the Gearing segment. Net cash used in operating activities of continuing operations was $20,038,000 against $12,117,000 for the same period a year ago. Purchases of property and equipment were $840,000 against $2,200,000 for the same period a year ago. Total adjusted LBITDA (non-GAAP) was $1,933,000 against total adjusted EBITDA (non-GAAP) of $2,807,000 for the same period a year ago. The decrease in sales is due mainly to lower tower sales reflecting the residual effects of production issues in the company's Abilene tower plant and production re-sequencing necessitated by supply shortages caused by labor slowdowns at West Coast ports. The company reported impairment charges for the quarter of $38,000. For the second quarter, the company is projecting revenue in the $8.5 million range and a loss in the $1.5 million range. The company expects $66 million to $68 million of revenue, good profit of - gross profit of 9% to 10% and operating income of between $1.5 million and $3 million. This translates into EPS of $0.09 to $0.18 and EBITDA of $4.5 million to $6 million. For the year 2015, the company capital spending should approximate $5 million to $6 million.

Broadwind Energy, Inc. to Report Q1, 2015 Results on Apr 30, 2015

Broadwind Energy, Inc. announced that they will report Q1, 2015 results at 9:00 AM, Eastern Standard Time on Apr 30, 2015

Broadwind Energy, Inc., Q1 2015 Earnings Call, Apr 30, 2015

Broadwind Energy, Inc., Q1 2015 Earnings Call, Apr 30, 2015

Broadwind Energy Wins $13 Million Tower Order

Broadwind Energy announced it has won a $13 million order from a U.S. wind turbine manufacturer and will produce towers at its Manitowoc, Wisconsin facility.

Broadwind Energy, Inc., Annual General Meeting, Apr 23, 2015

Broadwind Energy, Inc., Annual General Meeting, Apr 23, 2015., at 08:00 Central Daylight. Location: 3240 South Central Avenue. Agenda: To elect five directors to hold office for a term of one year or until their successors are duly elected and qualified; to cast a non-binding advisory vote to approve company's executive compensation; to ratify the appointment of KPMG LLP as company's independent registered public accounting firm for 2015, to approve the adoption of the company's 2015 equity incentive plan; and to consider and act upon such other matters as may properly come before the annual meeting and any adjournments or postponements thereof.

 

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