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Article: Broadwind Energy Reports Third-Quarter 2009 Revenue of $59.5 Million.(Financial report)
- Article from:
- Energy & Ecology Business
- Article date:
- November 20, 2009
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Broadwind Energy (NASDAQ:BWEN) reported a third-quarter net loss of $4.9 million or $.05 per basic and diluted share on revenue of $59.5 million. This compares with a loss of $0.08 per share on revenue of $63.7 million in the third quarter of 2008. The revenue decline is primarily the result of lower shipments of wind turbine gearing systems. Partly offsetting were increased sales of wind turbine structural towers, due to a capacity expansion during the first quarter of 2009.
The reduction in the net loss reflected lower operating expenses in the 2009 quarter. Both the Products and Services segments reported reduced operating losses versus the prior year period.
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