broadwind energy inc (BWEN) Key Developments
Broadwind Energy, Inc. Announces Extension of $20 Million Credit Facility
Jun 30 15
Broadwind Energy, Inc. announced the extension of its $20 million credit facility with AloStar Bank of Commerce. Under the terms of the new agreement, the facility will transition from a $20 million revolving line of credit to a $15 million revolving line of credit plus a $5 million machinery and equipment term loan. The credit facility has a one-year term, with an annual interest rate of 30-day LIBOR plus 3.25% to 3.50%.
Broadwind Energy, Inc. Announces $50 Million in New Tower Orders
Jun 25 15
Broadwind Energy, Inc. announced $50 million in new tower orders from a U.S. wind turbine manufacturer. Broadwind will produce these towers in both its Manitowoc, Wisconsin and Abilene, Texas facilities for 2016 delivery.
Broadwind Energy, Inc. Presents at 5th LD Micro Invitational Conference, Jun-02-2015 01:00 PM
May 27 15
Broadwind Energy, Inc. Presents at 5th LD Micro Invitational Conference, Jun-02-2015 01:00 PM. Venue: Luxe Sunset Boulevard Hotel, 11461 Sunset Blvd, Los Angeles, CA 90049, United States. Speakers: Stephanie K. Kushner, Chief Financial Officer, Executive Vice President and Treasurer.
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
Apr 30 15
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
Apr 16 15
Broadwind Energy, Inc. announced that they will report Q1, 2015 results at 9:00 AM, Eastern Standard Time on Apr 30, 2015