Mr. Ciel Caldwell reports

NORTHERN POWER SYSTEMS TO RESTATE ANNUAL AND QUARTERLY FINANCIAL RESULTS FOR 2013, 2014 AND FIRST THREE QUARTERS OF 2015

Northern Power Systems Corp. will restate its previously issued financial results for fiscal 2013, 2014 and the first three quarters of fiscal 2015.

The company's financials are being restated due to an error in the timing of recognizing revenue for certain overseas transactions. The company has historically recognized revenue for a turbine sale when title and risk of loss transfer to the customer, which occur at the time of shipment from the company's Vermont manufacturing facility. For the overseas transactions at issue, because the turbines were shipped to a foreign logistics warehouse, rented by Northern Power in the customer's country, the company has determined that revenue for such transactions should have been recorded when the turbine was transported out of the foreign logistics warehouse to the customer's installation site and not when shipped from the company's Vermont manufacturing facility. For some transactions, due to the amount of time a turbine was in overseas transit and in the foreign logistics warehouse, revenue for turbines shipped in one quarter should have been recorded in a subsequent fiscal quarter. In such cases, revenue previously recognized in certain quarters will be recognized in subsequent quarters. This restatement is being made at the recommendation of the audit committee of the company's board of directors, acting in consultation with the company's management. The audit committee and management have discussed the matters disclosed herein with RSM US LLP, the company's independent public accounting firm.

The company reports that the restatement had no impact on the company's cash position or cash flow from operations.

Given the restatement, the company intends to file its 2015 annual results as soon as practically possible, and will also file restated 2013 and 2014 results and quarterly results for each of the quarters impacted as a footnote within its 2015 Form 10-K. The company is working with RSM US LLP to establish a timeline for such filings and anticipates completion by June 30, 2016. Accordingly, investors should no longer rely upon the company's previously filed financial statements and other financial disclosures in respect to the restatement periods, as well as any previous disclosures concerning full-year 2015 revenue.

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