By Julie Wernau |
Wind turbine manufacturer Broadwind Energy, Inc., based in Naperville,
reported a net loss in the first quarter of $14.1 million on revenue of
$22.2 million due to a decrease in demand for wind farm installations
the company said spread from late 2008 through summer of 2009. That
compares with a net loss of $7.2 million on $53.1 million in revenue
last year.

Broadwind CEO J. Cameron Drecoll said the availability of federal stimulus money in late 2009 helped free of financing for wind projects but that the effects of new contracts and investments will not have a positive impact on Broadwind’s bottom line until the second half of 2010.

Broadwind raise $54 million with a common stock offering in January and, with volumes building, called back or rehired approximately 25 percent of its workforce in the first quarter.