Submit Search
Upload
Broadwind Q2 2014 Earnings Presentation
•
0 likes
•
981 views
AI-enhanced title
B
broadwind
Follow
Q2 2014 Investor Teleconference Presentation
Read less
Read more
Report
Share
Report
Share
1 of 14
Download now
Download to read offline
Recommended
Q2 2014 Investor Teleconference Presentation
Q2 2014 Investor Teleconference Presentation
broadwind
Bwen q3 inevestor call slides draft 4 10 28-14
Bwen q3 inevestor call slides draft 4 10 28-14
broadwind
BWEN Q3 Slides
BWEN Q3 Slides
broadwind
Q414 investor call slides final
Q414 investor call slides final
broadwind
May 2015 investor deck b riley final
May 2015 investor deck b riley final
broadwind
May 2015 investor deck ld micro final
May 2015 investor deck ld micro final
broadwind
Dec 2014 investor deck
Dec 2014 investor deck
broadwind
Q115 investor call slides draft 5 4.28.15
Q115 investor call slides draft 5 4.28.15
broadwind
Recommended
Q2 2014 Investor Teleconference Presentation
Q2 2014 Investor Teleconference Presentation
broadwind
Bwen q3 inevestor call slides draft 4 10 28-14
Bwen q3 inevestor call slides draft 4 10 28-14
broadwind
BWEN Q3 Slides
BWEN Q3 Slides
broadwind
Q414 investor call slides final
Q414 investor call slides final
broadwind
May 2015 investor deck b riley final
May 2015 investor deck b riley final
broadwind
May 2015 investor deck ld micro final
May 2015 investor deck ld micro final
broadwind
Dec 2014 investor deck
Dec 2014 investor deck
broadwind
Q115 investor call slides draft 5 4.28.15
Q115 investor call slides draft 5 4.28.15
broadwind
Q215 investor call slides final
Q215 investor call slides final
broadwind
Capital Power 2014 Q4 Results Analyst Presentation
Capital Power 2014 Q4 Results Analyst Presentation
Capital Power
Q4 2015 ern call slides final
Q4 2015 ern call slides final
broadwind
Q2 2016 ern call slides
Q2 2016 ern call slides
broadwind
2014 q1 earnings call presentation
2014 q1 earnings call presentation
AmeriGas
Webcast 4Q14
Webcast 4Q14
Petrobras
Investor Presentation
Investor Presentation
investorwattswater
Credit Suisse Presentation, September 18 2014
Credit Suisse Presentation, September 18 2014
DupontInv
Electrical Products Group Conference
Electrical Products Group Conference
TextronCorp
Q4 2013 earnings_presentation_slides
Q4 2013 earnings_presentation_slides
ir_styronllc
Presentation 2Q15 - CPFL Energia
Presentation 2Q15 - CPFL Energia
CPFL RI
SGS 2021 Half Year Results Alternative Performance Measures Report
SGS 2021 Half Year Results Alternative Performance Measures Report
SGS
SGS 2021 Full Year Results Alternative Performance Measures
SGS 2021 Full Year Results Alternative Performance Measures
SGS
Q4'15 Investor Presentation
Q4'15 Investor Presentation
q4curtisswright
Q4 14 results presentation final
Q4 14 results presentation final
InvestorMarkit
JLL Cleveland Industrial Outlook: Q2 2020
JLL Cleveland Industrial Outlook: Q2 2020
Andrew Batson
Q1 2017 Rockwell Collins, Inc. Earnings Conference Call
Q1 2017 Rockwell Collins, Inc. Earnings Conference Call
rockwell_collins
Q3 2014 Earnings Release Supplement
Q3 2014 Earnings Release Supplement
Barnes_Group
Q4 2014 earnings slides final
Q4 2014 earnings slides final
InvestorBruker
Introduction to Genesis
Introduction to Genesis
BibleTalk.tv
2012 deep research report on global and china wind turbine tower industry
2012 deep research report on global and china wind turbine tower industry
smarter2011
Global Trust in Advertising Report Nielsen 2013
Global Trust in Advertising Report Nielsen 2013
Dung Tri
More Related Content
What's hot
Q215 investor call slides final
Q215 investor call slides final
broadwind
Capital Power 2014 Q4 Results Analyst Presentation
Capital Power 2014 Q4 Results Analyst Presentation
Capital Power
Q4 2015 ern call slides final
Q4 2015 ern call slides final
broadwind
Q2 2016 ern call slides
Q2 2016 ern call slides
broadwind
2014 q1 earnings call presentation
2014 q1 earnings call presentation
AmeriGas
Webcast 4Q14
Webcast 4Q14
Petrobras
Investor Presentation
Investor Presentation
investorwattswater
Credit Suisse Presentation, September 18 2014
Credit Suisse Presentation, September 18 2014
DupontInv
Electrical Products Group Conference
Electrical Products Group Conference
TextronCorp
Q4 2013 earnings_presentation_slides
Q4 2013 earnings_presentation_slides
ir_styronllc
Presentation 2Q15 - CPFL Energia
Presentation 2Q15 - CPFL Energia
CPFL RI
SGS 2021 Half Year Results Alternative Performance Measures Report
SGS 2021 Half Year Results Alternative Performance Measures Report
SGS
SGS 2021 Full Year Results Alternative Performance Measures
SGS 2021 Full Year Results Alternative Performance Measures
SGS
Q4'15 Investor Presentation
Q4'15 Investor Presentation
q4curtisswright
Q4 14 results presentation final
Q4 14 results presentation final
InvestorMarkit
JLL Cleveland Industrial Outlook: Q2 2020
JLL Cleveland Industrial Outlook: Q2 2020
Andrew Batson
Q1 2017 Rockwell Collins, Inc. Earnings Conference Call
Q1 2017 Rockwell Collins, Inc. Earnings Conference Call
rockwell_collins
Q3 2014 Earnings Release Supplement
Q3 2014 Earnings Release Supplement
Barnes_Group
Q4 2014 earnings slides final
Q4 2014 earnings slides final
InvestorBruker
What's hot
(19)
Q215 investor call slides final
Q215 investor call slides final
Capital Power 2014 Q4 Results Analyst Presentation
Capital Power 2014 Q4 Results Analyst Presentation
Q4 2015 ern call slides final
Q4 2015 ern call slides final
Q2 2016 ern call slides
Q2 2016 ern call slides
2014 q1 earnings call presentation
2014 q1 earnings call presentation
Webcast 4Q14
Webcast 4Q14
Investor Presentation
Investor Presentation
Credit Suisse Presentation, September 18 2014
Credit Suisse Presentation, September 18 2014
Electrical Products Group Conference
Electrical Products Group Conference
Q4 2013 earnings_presentation_slides
Q4 2013 earnings_presentation_slides
Presentation 2Q15 - CPFL Energia
Presentation 2Q15 - CPFL Energia
SGS 2021 Half Year Results Alternative Performance Measures Report
SGS 2021 Half Year Results Alternative Performance Measures Report
SGS 2021 Full Year Results Alternative Performance Measures
SGS 2021 Full Year Results Alternative Performance Measures
Q4'15 Investor Presentation
Q4'15 Investor Presentation
Q4 14 results presentation final
Q4 14 results presentation final
JLL Cleveland Industrial Outlook: Q2 2020
JLL Cleveland Industrial Outlook: Q2 2020
Q1 2017 Rockwell Collins, Inc. Earnings Conference Call
Q1 2017 Rockwell Collins, Inc. Earnings Conference Call
Q3 2014 Earnings Release Supplement
Q3 2014 Earnings Release Supplement
Q4 2014 earnings slides final
Q4 2014 earnings slides final
Viewers also liked
Introduction to Genesis
Introduction to Genesis
BibleTalk.tv
2012 deep research report on global and china wind turbine tower industry
2012 deep research report on global and china wind turbine tower industry
smarter2011
Global Trust in Advertising Report Nielsen 2013
Global Trust in Advertising Report Nielsen 2013
Dung Tri
Sustainabilty Reporting Assurance
Sustainabilty Reporting Assurance
Ekonnect Knowledge Foundation
2012 deep research report on global and china wind turbine casting industry
2012 deep research report on global and china wind turbine casting industry
smarter2011
สารบัญ.
สารบัญ.
Kanistha Chudchum
Fifth Assessment Report - Synthesis Report
Fifth Assessment Report - Synthesis Report
Intergovernmental Panel on Climate Change
ตัวอย่างบทคัดย่อ
ตัวอย่างบทคัดย่อ
sukanya5729
รูปแบบการเขียนรายงานโครงงาน 5 บท
รูปแบบการเขียนรายงานโครงงาน 5 บท
Aekapoj Poosathan
Viewers also liked
(9)
Introduction to Genesis
Introduction to Genesis
2012 deep research report on global and china wind turbine tower industry
2012 deep research report on global and china wind turbine tower industry
Global Trust in Advertising Report Nielsen 2013
Global Trust in Advertising Report Nielsen 2013
Sustainabilty Reporting Assurance
Sustainabilty Reporting Assurance
2012 deep research report on global and china wind turbine casting industry
2012 deep research report on global and china wind turbine casting industry
สารบัญ.
สารบัญ.
Fifth Assessment Report - Synthesis Report
Fifth Assessment Report - Synthesis Report
ตัวอย่างบทคัดย่อ
ตัวอย่างบทคัดย่อ
รูปแบบการเขียนรายงานโครงงาน 5 บท
รูปแบบการเขียนรายงานโครงงาน 5 บท
Similar to Broadwind Q2 2014 Earnings Presentation
May 2015 investor deck ld micro final
May 2015 investor deck ld micro final
broadwind
Q3 2015 Investor Call Slides
Q3 2015 Investor Call Slides
broadwind
Q2 fy14 quarterly earnings presentation
Q2 fy14 quarterly earnings presentation
rockwell_collins
Aegis Growth Conference Investor Presentation October 2015
Aegis Growth Conference Investor Presentation October 2015
broadwind
FLSmidth Second Quarter Interim Report 2013 Presentation
FLSmidth Second Quarter Interim Report 2013 Presentation
FLSmidth & Co. A/S.
Zep Inc. Investor Presentation
Zep Inc. Investor Presentation
Zep Inc.
Zep q3 2014 - final
Zep q3 2014 - final
Zep Inc.
Full Year Results
Full Year Results
Company Spotlight
Credit Suisse Conference Feb 13, 2014
Credit Suisse Conference Feb 13, 2014
Atwood Oceanics
Q2 2014 Earnings Presentation
Q2 2014 Earnings Presentation
Masco_Investors
2014 q1 earnings call presentation
2014 q1 earnings call presentation
UGI_Corporation
Q3 2014 earnings slides final
Q3 2014 earnings slides final
InvestorBruker
Q1 2015 earnings slides final
Q1 2015 earnings slides final
InvestorBruker
Q4 15 earnings slides final
Q4 15 earnings slides final
InvestorBruker
200215 Santos 2014 full year results presentation
200215 Santos 2014 full year results presentation
Santos Ltd
2013 Results, 2030 Strategic Plan and 2014-25018 Business Plan
2013 Results, 2030 Strategic Plan and 2014-25018 Business Plan
Petrobras
Chesapeake Energy Investory Presentation January 2014
Chesapeake Energy Investory Presentation January 2014
Marcellus Drilling News
Mvv factbook hy_15
Mvv factbook hy_15
Company Spotlight
Amg investor presentation november 2014 final
Amg investor presentation november 2014 final
jdiluzio
Q2 15 earnings slides-final
Q2 15 earnings slides-final
InvestorBruker
Similar to Broadwind Q2 2014 Earnings Presentation
(20)
May 2015 investor deck ld micro final
May 2015 investor deck ld micro final
Q3 2015 Investor Call Slides
Q3 2015 Investor Call Slides
Q2 fy14 quarterly earnings presentation
Q2 fy14 quarterly earnings presentation
Aegis Growth Conference Investor Presentation October 2015
Aegis Growth Conference Investor Presentation October 2015
FLSmidth Second Quarter Interim Report 2013 Presentation
FLSmidth Second Quarter Interim Report 2013 Presentation
Zep Inc. Investor Presentation
Zep Inc. Investor Presentation
Zep q3 2014 - final
Zep q3 2014 - final
Full Year Results
Full Year Results
Credit Suisse Conference Feb 13, 2014
Credit Suisse Conference Feb 13, 2014
Q2 2014 Earnings Presentation
Q2 2014 Earnings Presentation
2014 q1 earnings call presentation
2014 q1 earnings call presentation
Q3 2014 earnings slides final
Q3 2014 earnings slides final
Q1 2015 earnings slides final
Q1 2015 earnings slides final
Q4 15 earnings slides final
Q4 15 earnings slides final
200215 Santos 2014 full year results presentation
200215 Santos 2014 full year results presentation
2013 Results, 2030 Strategic Plan and 2014-25018 Business Plan
2013 Results, 2030 Strategic Plan and 2014-25018 Business Plan
Chesapeake Energy Investory Presentation January 2014
Chesapeake Energy Investory Presentation January 2014
Mvv factbook hy_15
Mvv factbook hy_15
Amg investor presentation november 2014 final
Amg investor presentation november 2014 final
Q2 15 earnings slides-final
Q2 15 earnings slides-final
Broadwind Q2 2014 Earnings Presentation
1.
Broadwind Energy, Inc.
Q2 2014 Investor Call Presentation July 31, 2014 © 2014 Broadwind Energy, Inc. All Rights Reserved.
2.
Industry Disclaimer and
Forward-Looking Statements Broadwind obtained the industry and market data used throughout this presentation from our own research, internal surveys and studies conducted by third parties, independent industry associations or general publications and other publicly available information. Independent industry publications and surveys generally state that they have obtained information from sources believed to be reliable, but do not guarantee the accuracy and completeness of such information. Forecasts are particularly likely to be inaccurate, especially over long periods of time. We are not aware of any misstatements in the industry data we have presented herein, but estimates involve risks and uncertainties and are subject to change based on various factors beyond our control. This presentation includes various forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that involve risks , uncertainties and assumption, such as statements regarding our future financial condition or results of operations or prospects and strategies for future growth. Statements in this presentation that are not historical are forward-looking statements. These statements are based on current expectations and we undertake no obligation to update these statements to reflect events or circumstances occurring after this presentation. Such statements are subject to various risks and uncertainties that could cause actual results to vary materially from those stated. Such risks and uncertainties include, but are not limited to: expectations regarding our business, end-markets, relationships with customers and our ability to diversify our customer base; the impact of competition and economic volatility on the industries in which we compete; our ability to realize revenue from customer orders and backlog; the impact of regulation on end-markets, including the wind energy industry in particular; the sufficiency of our liquidity and working capital; our restructuring plans and the associated cost savings; the ability to preserve and utilize our tax net operating loss carry-forwards; and other risks and uncertainties described in our filings with the Securities and Exchange Commission, including those contained in Part I, Item A “Risk Factors” of our Annual Reports on Form 10-K. This presentation contains non-GAAP financial information. We believe that certain non-GAAP financial measures may provide users of this financial information meaningful comparisons between current results and results in prior operating periods. We believe that these non-GAAP financial measures can provide additional meaningful reflection of underlying trends of the business because they provide a comparison of historical information that excludes certain infrequently occurring or non-operational items that impact the overall comparability. Non-GAAP financial measures should be viewed in addition to, and not as an alternative to, our reported results prepared in accordance with GAAP. Please see our earnings release dated July 31, 2014 for a reconciliation of certain non-GAAP measures presented in this presentation. 2 © 2014 Broadwind Energy, Inc. All rights reserved. 7/31/2014
3.
Q2 2014 Overview
End Market Environments Wind – continued consistent demand for wind towers in 2015-16 Oil & Gas – strong demand for gearing and fabrications Steel – strong demand for gearing Mining – demand remains flat for gearing and fabrications Q2 2014 Highlights Generated $.12 EPS Margins improved by +470 bp from Q2 2013 Inventory reduction of $3M from Q1- 2014 as expected Strong order intake in Gearing, +$18M Increased quoting activity and orders in Services 7/31/2014 © 2014 Broadwind Energy, Inc. All rights reserved. 3 $30 $40 $50 $60 $70 2012 2013 2014 Q2 Revenue $M -0.40 -0.20 0.00 0.20 2012 2013 2014 Q2 Op. Inc/(Loss) cents / share $0.0 $2.0 $4.0 $6.0 $8.0 2012 2013 2014 Q2 Adj. EBITDA $M
4.
Orders and Backlog
7/31/2014 © 2014 Broadwind Energy, Inc. All rights reserved. 4 Orders – $M $34M in tower orders announced after Q2 Gearing order rate highest in over 4 years; nice mix of wind and industrial Services orders up 69% over prior year and highest since Q4 2012; quoting activity up Order Backlog – $M Q2 2014 ending backlog of $222M Q2 2014 backlog up 56% from Q2 2013 93% of 2014 revenue shipped or in backlog at 6/30/14 Q2 2013 Q2 2014 Towers and Weldments $17.5 $0.9 Gearing 4.8 18.3 Services 2.6 4.4 Total $24.9 $23.6 70 120 170 220 270 320 Q4 10 Q4 11 Q4 12 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14
5.
Wind Market +Large
electricity users (Google, Microsoft) seeking wind power +Yield Co’s coming to market…lower cost of capital +EPA carbon regulations … cleaner technologies become more valuable +Below the 5 year average of natural gas inventories +Turbine manufacturers continue to focus on lowering LCOE – Ohio passed 2 year freeze on RPS – Continued dysfunction in Washington 7/31/2014 © 2014 Broadwind Energy, Inc. All rights reserved. 5
6.
Gearing Fundamentals 7/31/2014
© 2014 Broadwind Energy, Inc. All rights reserved. 6 Market Trend Highlights Wind + Replacement Gearing O&G + Strong Market Drivers Steel + Increase in Capex Spend Mining - Little Growth Productivity Inventory Turns 50% 55% 60% 65% 70% Mar-13 Jun-13 Sep-13 Dec-13 Mar-14 Jun-14 0 1 2 3 4 5 6 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Notable Improvements Reduced past due backlog by >70% compared to Q2 13 Continued reduction in defect rate >50% improvement in sales/direct labor employee compared to Q2 13 Cycle times cut on average by >50%
7.
Consolidated Financial Results
7/31/2014 © 2014 Broadwind Energy, Inc. All rights reserved. 7 Q2 2014 Comments Sales up 29% from Q2 2013 – Towers and Weldments + 39%, Gearing +19% Gross margin (ex. restructuring) + 470 bp from Q2 2013 – higher volumes and improved productivity in Towers and Gearing Operating expense higher than Q2 2013 due to reserve for potential settlement of 2010 SEC investigation EPS $.12, significantly ahead of Q2 2013; achieved solid year-to-date profitability 2013201420132014Revenue-$M52.9$ 68.4$ 98.5$ 127.2$ Gross Profit-$M3.4 8.6 5.6 13.7 -% (ex. Restructuring)8.7%13.4%7.3%11.4% Operating Expense-$M5.9 6.5 12.5 12.6 -% (ex. Restructuring)10.9%9.5%12.0%9.8% Operating Income/(Loss)-$M(2.5) 2.1 (7.0) 1.1 Net Income (Loss), Continuing-$M0.4 1.9 (4.1) 0.8 Adj. EBITDA-$M3.5 5.9 4.9 8.7 EPS (diluted), Continuing0.03 0.12 (0.29) 0.05 Q2YTD
8.
Towers and Weldments
7/31/2014 © 2014 Broadwind Energy, Inc. All rights reserved. 8 Second Quarter 2014 Highlights Tower volume increased 39% compared to Q2 2013 Short-term reduction in industrial weldment revenue from large mining customer Q2 2014 productivity increase from higher volume, process improvements and material sourcing savings Operating profit up 69% due to higher volumes, improved production flow, material sourcing savings and higher margin mix 0 100 200 300 400 2012 Avg Q1 Q2 Q3 Q4 # of Towers Quarterly Tower Sales 2013 2014 2013201420132014Towers85119158227Sections282380566732Revenue-$M39.1$ 52.9$ 69.0$ 101.2$ EBITDA-$M6.3 9.6 9.8 16.2 Op. Income-$M5.1 8.6 7.2 14.2 Op. Margin13.0%16.2%10.5%14.0% Q2YTD June 30,
9.
Gearing 7/31/2014 ©
2014 Broadwind Energy, Inc. All rights reserved. 9 Revenue up 19% due to improved plant throughput and reduction in past-due backlog EBITDA up due to improved throughput and the benefits of the plant consolidation Operating loss reduced by 55% due to increased volume, improved productivity and lower restructuring $18M in new orders; good mix of wind and industrial 0 2 4 6 8 10 12 14 Q2 13 Q2 14 Revenue - $M Q2 Sales by Industry Other Industrial Mining Steel O&G Wind Second Quarter 2014 Highlights 2013201420132014Revenue-$M10.4$ 12.4$ 21.2$ 21.2$ EBITDA-$M(0.1) 0.6 (0.1) (0.2) Op. Loss-$M(4.0) (1.8) (7.0) (4.8) Op. Margin-38.1%-14.5%-32.9%-22.5% Q2YTD June 30,
10.
Services 7/31/2014 ©
2014 Broadwind Energy, Inc. All rights reserved. 10 Second Quarter 2014 Highlights Industry recovering – quoting activity up; highest quarterly order rate since Q4 2012 Revenue down 14% from Q2 2013 – lower industrial drivetrain assembly work, partly offset by higher demand for blade repair work Operating loss flat due to lower restructuring and administrative expenses 30 35 40 45 50 55 60 65 70 75 80 Q1 13 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Service Tech Headcount 2013201420132014Revenue-$M4.1$ 3.5$ 11.5$ 5.9$ EBITDA-$M(0.6) (1.0) (0.6) (1.9) Op. Loss-$M(1.3) (1.3) (2.0) (2.7) Op. Margin-31.0%-37.9%-17.0%-44.9% Q2YTD June 30,
11.
Operating Working Capital
7/31/2014 © 2014 Broadwind Energy, Inc. All rights reserved. 11 6/30/14 operating working capital increased $6.4M from 3/31/14 to $26.0M Operating working capital was 10% of annualized Q2 2014 sales Operating working capital expected to decline by year end as customer deposits increase *Operating Working Capital = Trade Receivables + Inventories – Trade Payables – Customer Deposits - 0.02 0.04 0.06 0.08 0.10 0.12 0.14 0.16 0.18 0.20 Working Capital Cents per Dollar
12.
Debt and Liquidity
7/31/2014 © 2014 Broadwind Energy, Inc. All rights reserved. 12 Net debt negative Debt and capital leases less than $5M More than half of outstanding debt is low or 0% interest rates from New Markets Tax Credit and other grant financing $20M credit line remained undrawn at 6/30/14 0 5000 10000 15000 20000 25000 30000 35000 40000 45000 2009 2010 2011 2012 2013 Q1 2014 Q2 2014 debt and capital leases low or 0 interest rate debt Brandon, SD mtg 6/30/2014$MAloStar line of credit- Long-term debt- Capital leases1.7$ Subtotal: debt ex. grants1.7 Grants/tax credits2.7 Total Debt4.4 Less: Cash and related assets11.6 Net Debt(7.2)$
13.
2014 Financial Outlook
7/31/2014 © 2014 Broadwind Energy, Inc. All rights reserved. 13 2014 EPS Walk Q1 and Q4 are typically the weakest quarters 2014 growth mainly from Towers revenue, but increasing contribution from Gearing Q3 results expected to be lower than Q2 due to tower model conversions Remain on track to achieve full-year guidance FY 2010FY 2011FY 2012FY 20132014 EQ3 14Q3 13Revenue-$M137.0$ 186.0$ 210.7$ 215.7$ $255-265$65-6860.9$ Gross Profit-$M1.9 7.2 6.8 12.3 4.6 -% (ex. Restructuring)1.4%3.9%4.0%8.0%10-12%> 10%9.4% Operating Expense-$M30.4 27.6 24.1 25.6 6.9 -% (ex. Restructuring)22.2%14.6%11.1%11.3%9-10%< 10%11.2% Impairment Exp. -$M40.8 0Operating Profit (Loss)-$M(69.2) (20.4) (17.3) (13.2) positive.05-1.0(2.3) Adj. EBITDA-$M(9.2) (2.1) 5.5 10.3 >164.5-5.02.7 EPS, Continuing - $(6.56) (1.79) (1.27) (0.72) positive.02-.06(0.18)
14.
Click to edit
Master title style Click to edit Master text styles –Second level •Third level –Fourth level »Fifth level Broadwind Energy is committed to helping customers maximize performance of their energy and infrastructure investments— quicker, easier and smarter. 14 © 2014 Broadwind Energy, Inc. All rights reserved.
Download now