Broadwind Energy moved into the black for the first time last year, posting a profit of $1.3m, compared with a loss of $12.2m in 2015.
The US company said “significantly improved operating efficiencies in the towers and weldments segment and successful cost containment efforts company-wide” were behind the move into profit.
Revenue for 2016 fell 9% to $180.8m from $199.2m in 2015. Revenue dropped off in towers and weldments because of lower steel and other material costs, Broadwind said.
New orders totalled $275m in 2016, up considerably on the $94m booked in 2015.
Broadwind chief executive Stephanie Kushner said: “We exceeded our targets for every metric that we set at the beginning of the year.
“Orders in 2016 totalled $275m, nearly triple the orders in 2015. We removed $9m from manufacturing overhead and operating expenses in 2016, which was $1m more than our target.
“Our tower production was on schedule in both plants, and productivity in our Abilene plant improved dramatically during 2016, ending the year at a record level with record low overtime.”
Image: Broadwind
