February 26, 2015

Broadwind Announces Q4 and FY 2014 Results

Q4 Highlights:

  • Booked $30 million in new orders; ending backlog totaled $202 million
  • Revenue of $53.8 million, down 5% from Q4 2013 due to short-term production issues in Abilene tower facility
  • SGA expenses declined 12% to $5.0 million from Q4 2013
  • Gearing and Services operating losses reduced dramatically compared to Q4 2013

Full-Year Highlights:

  • Revenue of $241.3 million, up 12% compared to 2013
  • Operating loss reduced from $13.2 million in 2013 to $5.9 million in 2014
  • Gearing showed $2.7 million improvement in non-GAAP Adjusted EBITDA compared to 2013; operating loss reduced by 47% compared to 2013
  • Three-year $13.7 million restructuring investment completed