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Broadwind doubles Q1 sales

UNITED STATES: Tower manufacturer Broadwind Energy has announced a loss of $4.1 million despite doubling its sales for the three months preceding March 31.

The company’s Q1 sales totalled $43.5 million, a rise of $21.7 million on 2010 Q1 figure. Last year, it announced a $12 million loss

Broadwind said the improved performance against the 2010 quarter was the result of higher sales, improved production flow and volume efficiencies, general and administrative expenses and lower amortization expense.

Broadwind chief executive Peter Duprey, said: "With our revenues doubling and order intake increasing by about 150% over first-quarter 2010, our capacity utilization in our towers and gearing business continued to improve.

"Our focus on larger towers and rebalancing our revenue stream between wind energy and industrial customers is paying off. We are expanding our sales force and ensuring that we are customer focused in delivering a quality product, on time."

In March, Goldwind USA has handed Broadwind Energy a deal to supply 70 towers for the upcoming 106.5MW Shady Oaks project, Illinois.

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