This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Broadwind Energy Reports Third-Quarter 2009 Revenue of $59.5 Million 2009-10-30 11:29 ET - News Release Operating cash flow improves to $2.9 million
NAPERVILLE, Ill. -- (Business Wire)
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.
The Company generated EBITDA (earnings before interest, taxes,
depreciation, amortization and stock-based compensation) of $3.0 million
for the third-quarter 2009 compared to -$0.2 million in the third
quarter of 2008. (For a summary of financial results and an explanation
and reconciliation of EBITDA to net loss, please see the table below.)
Net cash provided by operating activities totaled $2.9 million, compared
with net cash used in operating activities of $5.8 million in the third
quarter of 2008. The improvement was primarily the result of a decrease
in inventory balances and higher collections of accounts receivable.
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