Broadwind Energy, Inc. (NASDAQ: BWEN):
- Q4 sales of $55.1 million, up 16% from the prior-year quarter; 2011 sales up 36%
- Strong order intake (up 7% from Q4 2010) yields $200 million backlog, increasingly diversified across customers and markets served
- Business restructuring underway for 30% footprint reduction and improved cost structure in 2013
- Year-end cash totaled $14.2 million and $9.5 million remained available on credit line
Broadwind Energy, Inc. (NASDAQ: BWEN) reported sales of $55.1 million for the fourth quarter of 2011, a 16% increase compared to $47.6 million in the fourth quarter of 2010. The Company’s 2011 sales totaled $185.9 million, an increase of 36% versus 2010, reflecting significant revenue growth in all segments.
The Company reported a net loss from continuing operations of $5.7 million or $.04 per share in the fourth quarter of 2011, compared to a loss from continuing operations of $37.3 million or $.36 per share during the fourth quarter of 2010; the prior-year’s quarter included non-cash charges totaling $36.2 million comprised of the write-down of the investment in the Company’s Brandon, South Dakota facility and a charge associated with intangibles and property and equipment in the Services segment. Excluding these charges, the fourth quarter 2011 loss exceeded the loss in the prior- year’s quarter. This was attributable to lower production in the Tower business, which in the fourth quarter of 2010 experienced record production, and additional pricing pressure resulting from industry overcapacity. For Services, fourth quarter 2011 earnings excluding non-cash charges were lower than 2010 due to higher operating expenses and low capacity utilization of drivetrain services investments, where new capacity was brought on in early 2011.For the full year of 2011, the loss from continuing operations narrowed to $20.7 million from a $69.8 million loss reported in 2010. Included in 2010 were non-cash impairment charges totaling $40.8 million.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV