Broadwind Energy, Inc. (BWEN) Misses Q4 EPS by 2c

Broadwind Energy, Inc. (Nasdaq: BWEN) reported Q4 EPS of ($0.07), $0.02 worse than the analyst estimate of ($0.05). Revenue for the quarter came in at $58.8 million versus the consensus estimate of $55.99 million.

The Company reported non-GAAP adjusted EBITDA (earnings before interest, taxes, depreciation, amortization, share-based payments and restructuring costs) of $2.8 million in the first quarter of 2014, compared to $1.3 million in the first quarter of 2013.

The Company booked $15.8 million in net new orders in the first quarter of 2014, down from $91.9 million in the prior-year first quarter when orders surged following the renewal of the federal Production Tax Credit. Towers and Weldments orders, which vary considerably from quarter to quarter, totaled $3.9 million and consisted of industrial weldment orders primarily for one large customer. This order pattern was expected, following the massive order inflow experienced in the second half of 2013. First quarter Gearing orders totaled $8.3 million, down 29% from the prior-year first quarter and up 61% sequentially. Services orders totaled $3.6 million, up sharply from the prior-year first quarter which included the cancellation of a large drivetrain assembly project with an industrial customer.

For earnings history and earnings-related data on Broadwind Energy, Inc. (BWEN) click here.

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