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Stock Market & Financial Investment News

News Breaks
January 18, 2013
16:04 EDTBWENBroadwind Energy issues statement on final ITC determinations
Broadwind Energy made the following statement with respect to the U.S. International Trade Commission's determinations regarding its final phase anti-dumping and countervailing duty investigations concerning utility scale wind towers from China and Vietnam. Peter C. Duprey, president and CEO of Broadwind Energy, stated, "As one of the largest U.S. suppliers of wind towers, Broadwind is pleased with the ITC's finding that the U.S. wind industry has been materially impacted by Chinese and Vietnamese imports sold at less than fair value. With supply and demand for wind towers in the U.S. coming into better balance, the imposition of final anti-dumping and/or countervailing duty orders on these products will support fair competition and further development in wind, and the retention of jobs in the sector. Broadwind continues to be committed to the wind industry and to serving our customers' tower needs."
News For BWEN From The Last 14 Days
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February 5, 2016
16:01 EDTBWENBroadwind Energy approves extension of Section 382 Rights Plan
Broadwind Energy announced that its Board of Directors has approved an amendment to the company's Section 382 Rights Plan designed to preserve Broadwind's substantial tax assets associated with net operating loss carryforwards under Section 382 of the Internal Revenue Code. The amendment extends the Rights Plan through February 22, 2019.
07:08 EDTBWENBroadwind Energy sees Q4 EPS to be below company guidance, one estimate (5c)
Reports preliminary Q4 revenue $38M, one estimate $44.11M. The company said that revenue and loss per share for Q4 and FY15 are expected to be below the company's previous estimates due to substantial production issues and one-time costs associated with an unprofitable contract in the company's Abilene tower facility. Based on preliminary financial results, the company now expects consolidated fourth-quarter revenue to be approximately $38M and the consolidated fourth-quarter operating loss to be approximately $11M, versus guidance of a $4M-$5M operating loss. This is primarily due to a $5M loss in the Towers and Heavy Weldments segment mainly due to low production in the company's Abilene tower facility, where labor overruns, inventory charges and other manufacturing inefficiencies were incurred, associated with a challenging order taken in 2014.

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