Broadwind Energy reported sales of US$ 43.5 million for the first quarter of 2011, a 100% increase compared to US$ 21.7 million in the first quarter of 2010. Sales in both the Towers and Gearing segments were up substantially compared to the prior year as a result of the increased demand, as well as success at rebuilding sales to industrial customers.
The Company reported a net loss from continuing operations of US$ 4.1 million in the first quarter of 2011 compared to a loss of US$ 12.0 million during the first quarter of 2010. The improvement against the 2010 quarter was the result of the beneficial impact of higher sales, improved production flow and volume efficiencies, lower selling, general and administrative expenses and lower amortization expense. The company reported Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization and stock-based compensation) of US$ 0.1 million during the first quarter of 2011 compared to an Adjusted EBITDA loss of US$ 7.2 million during the first quarter of 2010. The first quarter loss from discontinued operations totaled US$ 1.1 million, inclusive of the operating losses at the Company's Badger Transport business, which was divested on March 4, 2011. At March 31, 2011, backlog totaled US$ 227 million, a slight increase over the December 31, 2010 backlog of US$ 226 million.
The Company reported a net loss from continuing operations of US$ 4.1 million in the first quarter of 2011 compared to a loss of US$ 12.0 million during the first quarter of 2010. The improvement against the 2010 quarter was the result of the beneficial impact of higher sales, improved production flow and volume efficiencies, lower selling, general and administrative expenses and lower amortization expense. The company reported Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization and stock-based compensation) of US$ 0.1 million during the first quarter of 2011 compared to an Adjusted EBITDA loss of US$ 7.2 million during the first quarter of 2010. The first quarter loss from discontinued operations totaled US$ 1.1 million, inclusive of the operating losses at the Company's Badger Transport business, which was divested on March 4, 2011. At March 31, 2011, backlog totaled US$ 227 million, a slight increase over the December 31, 2010 backlog of US$ 226 million.
