in News Departments > New & Noteworthy
print the content item

Broadwind Energy Inc., a Cicero, Ill-based provider of wind components and services through its towers, gears and energy services divisions, reported strong revenue gains and improved earnings for the period ending March 31.

Total company sales increased 29% to $58.8 million from $45.5 million last year. Broadwind says the increase in revenue is largely attributable to its towers and weldments units, partly offset by weaker results in the gearing and services segments. Broadwind reported a net loss from continuing operations of $1 million in the first quarter, compared to a loss of $4.5 million last year.

The company booked $15.8 million in net new orders in the first quarter, down from $91.9 million booked in the same period last year, although last year's first quarter numbers were driven by the renewal of the federal production tax credit. As of March 31, total backlog was $267.5 million, up 58% from the first quarter of 2013.

"Overall, I am pleased with our first-quarter results, which were better than our guidance and set us up nicely to achieve our financial objectives for 2014," says Peter C. Duprey, Broadwind’s president and CEO in a statement. "In all, we remain on track to achieve profitability in 2014."


Trachte Inc._id1770
Latest Top Stories

Wind And Solar Are Catching Up With Nuclear Power, Says Report

A new report from the Worldwatch Institute says nuclear energy's share of global power production is steadily shrinking. Meanwhile, renewables' share keeps growing.


Could New Desert Plan Spell The End Of California Wind Energy Development?

The California Wind Energy Association says it is disappointed with the draft Desert Renewable Energy Conservation Plan, which was recently released by state and federal agencies.


New U.S. House Bill Includes Wind PTC Extension

U.S. representatives have introduced the Bridge to a Clean Energy Future Act of 2014, which would extend the production tax credit (PTC) and other provisions through 2016.


Utility-Scale Wind And Solar Keep Getting Cheaper

A new study measures the levelized cost of energy from various technologies and suggests that the costs of utility-scale wind and solar power are catching up with those of traditional sources, even without subsidies.


The Song Remains The Same: Ontario Seeks More Science Before Lifting Offshore Ban

The Ontario government says the nearly four-year-old offshore wind moratorium will remain in place until the province fully understands the technology’s impact on the environment.

Renewable NRG_id1934
Canwea_id1984
Future Energy_id2008