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

Senate Passes Tax Extenders Bill With Wind PTC Extension

The legislation, which passed in the U.S. House earlier this month, will renew the critical production tax credit through the end of 2014 - giving developers only about two weeks left to start construction.


Transmission Study Shows Nebraska Could Handle A Lot More Wind Power

A new report released by the Nebraska Power Review Board finds that the state already has enough infrastructure to accommodate at least 2 GW of additional wind generation.


Can Wind Energy And Birds Coexist? Environmental Group Says Yes

The Environmental Defense Fund, a supporter of responsible wind energy development, points out ways to help mitigate impacts of turbines on birds and bats.


Another Study Finds Wind Turbines Do Not Affect Nearby Property Values

Research conducted by the University of Guelph focused on regions in Ontario, and the conclusion echoes that of previous studies.


Too Little, Too Late? U.S. House Approves Wind PTC Extension

The U.S. House of Representatives has passed a tax extenders package that would renew the wind production tax credit (PTC) and about 50 other expired tax breaks through 2014. The wind industry argues the short-term fix is virtually no fix at all.

Hybrid Energy Innovations 2015