8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): March 15, 2011

BROADWIND ENERGY, INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware	0-31313	88-0409160
(State or Other Jurisdiction of	(Commission File Number)	(IRS Employer Identification No.)
Incorporation)

47 East Chicago Avenue, Suite 332, Naperville, Illinois 60540

(Address of Principal Executive Offices) (Zip Code)

Registrant’s Telephone Number, Including Area Code: (630) 637-0315

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02.  Results of Operations and Financial Condition.

On March 15, 2011, Broadwind Energy, Inc. (the “Company”) issued a press release announcing its financial results as of and for the year ended December 31, 2010.  The press release is incorporated herein by reference and attached hereto as Exhibit 99.1.

The information contained in, or incorporated into, this Item 2.02 of this Current Report on Form 8-K (this “Report”), including Exhibit 99.1 attached hereto, is furnished under Item 2.02 of Form 8-K and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act regardless of any general incorporation language in such filings.

Item 7.01. Regulation FD Disclosure.

An Investor Presentation dated March 15, 2011 is incorporated herein by reference and attached hereto as Exhibit 99.2.

The information contained in, or incorporated into, this Item 7.01 of this Report, including Exhibit 99.2 attached hereto, is furnished under Item 7.01 of Form 8-K and shall not be deemed “filed” for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act or the Exchange Act regardless of any general incorporation language in such filings.

This Report will not be deemed an admission as to the materiality of any information in this Report that is being disclosed pursuant to Regulation FD.

Please refer to Exhibit 99.2 for a discussion of certain forward-looking statements included therein and the risks and uncertainties related thereto.

Item 9.01.  Financial Statements and Exhibits.

(d)	Exhibits
99.1	Press Release dated March 15, 2011
99.2	Investor Presentation dated March 15, 2011

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	BROADWIND ENERGY, INC.
March 15, 2011	By:	/s/ Stephanie K. Kushner
		Stephanie K. Kushner
		Chief Financial Officer

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EXHIBIT INDEX

EXHIBIT NUMBER	DESCRIPTION
99.1	Press Release dated March 15, 2011
99.2	Investor Presentation dated March 15, 2011

4

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

Broadwind Energy, Inc. Announces Fourth Quarter

and Full Year Results for 2010

Highlights:

·Fourth-quarter orders total $64 million; ending backlog rises 8% to $226 million

·Net sales of $47.6 million up 47.9% over the prior year quarter

·Adjusted EBITDA increases to $3.7 million, an improvement of $6.9 million over the same period last year

·At December 31, 2010, liquidity rose to $15.3 million, with an untapped $10 million Line of Credit

NAPERVILLE, Ill., March 15, 2011—Broadwind Energy (NASDAQ: BWEN) reported sales of $47.6 million for the fourth quarter, a 47.9% increase compared to $32.2 million in the fourth quarter of 2009. The sharp increase reflects record-high production levels within the Tower segment and continued growth of industrial sales in the Gearing segment. The Company reported a net loss from continuing operations of $37.3 million or $0.36 per share in the fourth quarter of 2010, including non-cash impairment charges totaling $36.2 million. The impairment charges included a $13.3 million write-down of the investment in the Company’s Brandon, South Dakota manufacturing facility, and a $22.9 million charge associated with intangibles and property and equipment in the Services segment.

In the fourth quarter of 2009, the Company reported a net loss from continuing operations of $91.2 million, or $0.95 per share, which included non-cash impairment charges totaling $82.2 million. Versus 2009, the decrease in loss was primarily the result of lower impairment expense taken in the current quarter, the beneficial impact of higher sales and lower selling, general and administrative expenses.

The Company reported Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization and stock-based compensation) of $3.7 million during the fourth quarter of 2010 compared to an Adjusted EBITDA loss of $3.2 million during the fourth quarter of 2009, due principally to the improved tower and gearing segment results, and lower corporate expenses.

Peter C. Duprey, president and chief executive officer, stated, “I am very encouraged by our fourth-quarter performance. Despite the uncertain U.S. wind energy market, Broadwind ended the year with a strong operational quarter and booked more than $60 million in new orders. We are making progress with our stated objectives of broadening our industrial customer base and improving our capacity utilization. Our gearing business is seeing stronger demand in the industrial markets such as mining and oil and gas. Our early focus on the multi-megawatt tower

manufacturing is paying off with some of the existing and new entrants in the U.S. wind market. Our services business had a difficult fourth quarter. However, with the dedication of the drivetrain service center, we are seeing strong interest from customers looking for gearbox remanufacturing services. We recently announced the sale of our logistics business, which will enable us to concentrate on our core operating units. As we move into 2011, we expect to deliver more consistent operating results and will report on progress with our growth strategies as the year continues. With the continued fluctuation of currency markets, we are seeing customers interested in localizing their supply chains for their U.S. sales.”

The fourth-quarter loss from discontinued operations totaled $11.3 million, inclusive of both the operating losses at the Company’s Badger Transport business, and the non-cash charge associated with the divestiture, which was completed on March 4, 2011.

At December 31, 2010, backlog totaled $226 million, an increase of 8% compared to September 30, 2010 backlog of $210 million.

For the full year ended December 31, 2010, the Company reported revenue of $136.9 million compared to $184.8 million in the prior year. The reduction in sales was the result of lower production at each business segment, primarily during the first half of 2010, linked to the overall decline in the U.S. wind industry in 2010. According to the American Wind Energy Association, U.S. wind capacity additions totaled 5,115 megawatts (MW) in 2010 approximately half the level of 2009.

The Company reported a loss from continuing operations for the year of $69.8 million, or $0.66 per share, compared to $107.0 million, or $1.11 per share in 2009. The decreased loss from continuing operations was primarily the result of lower impairment expense taken during the 2010 year and the beneficial impact of a 15% reduction in selling, general and administrative expenses due to cost-containment efforts in the weak environment, partially offset by the impact of lower revenues. The net loss for the year ended December 31, 2010 was $85.2 million, or $0.80 per share, inclusive of a loss of $15.4 million, or $0.14 per share, from discontinued operations.

Segment Results

Towers

Broadwind manufactures wind turbine towers, specializing in the large and heavier towers that are designed for 2 megawatt (“MW”) and larger wind turbines.

Towers segment sales totaled $30.3 million in the fourth quarter of 2010, compared to $17.2  million in the fourth quarter of 2009. Adjusted EBITDA for the fourth quarter totaled $5.6 million in 2010, compared to $1.3 million in 2009. The increases in both revenues and EBITDA were primarily attributable to a 79% increase in tower sections produced compared to the prior year. Production of wind towers totaled 284 megawatts (MW) in the quarter and 554 MW year-to-date.

2

Towers segment sales for the year ended December 31, 2010 were $76.2 million, compared to $93.3 million in 2009. The decrease was primarily attributed to lower average tower prices reflecting, in part, 20% lower average steel prices and a 3% decline in tower section production, primarily in the first half of the year. Adjusted EBITDA for the year ended December 31, 2010 was $6.6 million, compared to $6.0 million in 2009. The increase was primarily attributed to the absence of start-up costs incurred in 2009 associated with the Abilene facility.

Gearing

Broadwind produces precision gearing for the wind industry and gearboxes for mining, oilfield and other industrial customers.

Gearing segment sales totaled $13.9 million in the fourth quarter of 2010, compared to $9.7 million in 2009. The increase is due primarily to growth in sales to industrial customers. Adjusted EBITDA for the fourth quarter of 2010 was $0.2 million compared to a loss of $2.0 million in the prior year fourth quarter. The improvement reflects the sales increase as well as significantly improved operations, including lower scrap and warranty expense and improved inventory management.

Gearing segment sales were $48.9 million for the year ended December 31, 2010 compared to $64.5 million in the prior year. The decrease was attributed to a 21% and 29% decline in wind gearing and industrial revenues, particularly in the first half of the year, as a result of reduced or delayed production orders from key customers. Adjusted EBITDA for the year ended December 31, 2010 was a loss of $4.2 million compared to a loss of $0.7 million in the prior year, due to the decline in revenues during the current year.

Services

Broadwind is a leading independent provider of installation support and operations and maintenance services for the wind turbine industry. The Company also offers repair and refurbishing of complex wind components, including control systems, gearboxes and blades.

Revenue from the Services segment was $3.5 million in the fourth quarter of 2010, compared with $5.4 million in the fourth quarter of 2009. The decrease in revenues was primarily the result of reduced operations and maintenance services performed for wind farm owners and operators. Adjusted EBITDA for the fourth quarter was a loss of $0.4 million compared to a loss of $0.1 million in the prior year fourth quarter. The decline was attributed to lower revenues and start-up costs associated with the new drivetrain services center, partially offset by lower selling, general and administrative costs.

Service segment revenue for the year ended December 31, 2010 was $12.1 million compared to $27.6 million in 2009. The decrease in revenues was primarily attributed to the absence of a large blade program completed in 2009, and lower outsourced project activity overall. Adjusted EBITDA for the year ended December 31, 2010 was a loss of $3.9 million compared to income of $2.8 million in 2009 due to the reasons listed above.

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Corporate and Other

Fourth quarter corporate and other expenses totaled $2.0 million, down $1.2 million from the prior year due to lower employee compensation expense and decreased professional fees. For the full year, corporate expenses totaled $9.4 million, down 34% from the prior year due to improved expense management and the absence of a 2009 customer dispute settlement.

Cash and Liquidity

At year-end, cash and marketable securities on hand totaled $15.3 million and the Company’s $10 million credit line was undrawn. Outstanding debt totaled $11.2 million and the Company was in compliance with all debt covenants.

About Broadwind Energy, Inc.

Broadwind Energy (NASDAQ: BWEN) applies decades of deep industrial expertise to innovate integrated solutions for customers in the energy and infrastructure markets. From gears to wind towers, to comprehensive remanufacturing of gearboxes and blades, to operations and maintenance services, and heavy industries, we have solutions for the energy needs of the future. With facilities throughout the U.S., Broadwind Energy’s talented team of more than 800 employees is committed to helping customers maximize performance of their investments—quicker, easier and smarter. Find out more at www.bwen.com.

Forward-Looking Statements

This news release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 - that is, statements related to future, not past, events. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “anticipate,” “believe,” “intend,” “expect,” “plan,” “will” or other similar words. These forward-looking statements involve certain risks and uncertainties that ultimately may not prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. The Company’s forward looking statements may include or relate to the Company’s plans to grow its business and its expectations regarding its operations and the business of its customers; the sufficiency of the Company’s working capital; and the Company’s expectations regarding the state of the wind energy market generally, as well as the Company’s expectations relating to the economic downturn and the potential impact on its business and the business of its customers. For further discussion of risks and uncertainties, individuals should refer to the Company’s SEC filings. The Company undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this news release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release. All forward-looking statements are qualified in their entirety by this cautionary statement.

CONTACT: John Segvich, 630.995.7137, john.segvich@bwen.com

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BROADWIND ENERGY, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(IN THOUSANDS)

	As of December 31,
	2010			2009
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	15,331		$	4,701
Restricted cash	170			2,010
Accounts receivable, net	21,427			21,487
Inventories, net	17,739			8,825
Prepaid expenses and other current assets	3,476			4,549
Assets held for sale	6,847			2,004
Total current assets	64,990			43,576
Property and equipment, net	106,317			129,619
Goodwill	—			4,561
Intangible assets, net	10,073			32,401
Long-term assets held for sale	—			17,993
Other assets	2,126			3,338
TOTAL ASSETS	$	183,506		$	231,488
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Lines of credit and notes payable	$	140		$	10,717
Current maturities of long-term debt	1,437			7,782
Current portions of capital lease obligations	966			882
Accounts payable	22,342			14,499
Accrued liabilities	6,515			6,679
Customer deposits	8,881			10,199
Liabilities held for sale	4,221			1,984
Total current liabilities	44,502			52,742
LONG-TERM LIABILITIES:
Long-term debt, net of current maturities	9,671			13,396
Long-term capital lease obligations, net of current portions	1,802			2,749
Interest rate swap agreements	—			253
Deferred income tax liabilities	—			403
Long-term liabilities held for sale	—			4,409
Other	1,335			1,941
Total long-term liabilities	12,808			23,151
STOCKHOLDERS’ EQUITY:
Common stock	107			97
Additional paid-in capital	356,545			300,779
Accumulated deficit	(230,456		)	(145,281		)
Total stockholders’ equity	126,196			155,595
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	183,506		$	231,488

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BROADWIND ENERGY, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(IN THOUSANDS, EXCEPT PER SHARE DATA)

	Three Months Ended December 31,						Twelve Months Ended December 31,
	2010			2009			2010			2009
	(Unaudited)
Revenues	$	47,551		$	32,151		$	136,896		$	184,798
Cost of sales	42,102			33,480			134,950			172,894
Gross profit (loss)	5,449			(1,329		)	1,946			11,904
OPERATING EXPENSES:
Selling, general and administrative	5,970			6,622			27,404			32,422
Impairment charges	36,216			82,211			40,777			82,211
Intangible amortization	428			1,466			2,992			9,524
Total operating expenses	42,614			90,299			71,173			124,157
Operating loss	(37,165		)	(91,628		)	(69,227		)	(112,253		)
OTHER (EXPENSE) INCOME, net:
Interest expense, net	(335		)	(528		)	(1,172		)	(2,174		)
Other, net	378			543			486			6,454
Total other (expense) income, net	43			15			(686		)	4,280
Net loss from continuing operations before provision (benefit) for income taxes	(37,122		)	(91,613		)	(69,913		)	(107,973		)
Provision (benefit) for income taxes	180			(384		)	(160		)	(947		)
Loss from continuing operations	(37,302		)	(91,229		)	(69,753		)	(107,026		)
Loss from discontinued operations, net of tax	(11,269		)	(1,370		)	(15,422		)	(3,093		)
NET LOSS	$	(48,571	)	$	(92,599	)	$	(85,175	)	$	(110,119	)
NET LOSS PER COMMON SHARE - BASIC AND DILUTED:
Loss from continuing operations	$	(0.36	)	$	(0.95	)	$	(0.66	)	$	(1.11	)
Loss from discontinued operations	(0.09		)	(0.01		)	(0.14		)	(0.03		)
Net Loss	$	(0.45	)	$	(0.96	)	$	(0.80	)	$	(1.14	)

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BROADWIND ENERGY, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(IN THOUSANDS)

	Twelve Months Ended December 31,
	2010			2009
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(85,175	)	$	(110,119	)
Loss from discontinued operations	15,422			3,093
Loss from continuing operations	(69,753		)	(107,026		)
Adjustments to reconcile net cash provided by (used in) operating activities:
Depreciation and amortization expense	16,463			22,696
Impairment charges	40,777			82,211
Change in fair value of interest rate swap agreements	(253		)	(330		)
Deferred income taxes	1,338			(813		)
Stock-based compensation	1,745			2,805
Allowance for doubtful accounts	(1,142		)	248
Loss on disposal of assets	70			165
Changes in operating assets and liabilities:	(52		)	4,655
Net cash provided by (used in) operating activities of continued operations	(10,807		)	4,611
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(6,893		)	(11,271		)
Proceeds from disposals of property and equipment	38			829
Decrease (increase) in restricted cash	1,840			(1,510		)
Net cash used in investing activities of continued operations	(5,015		)	(11,952		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from issuance of stock	53,347			675
Common stock issued under defined contribution 401(k) plan	684			76
Payments on lines of credit and notes payable	(21,231		)	(11,810		)
Proceeds from lines of credit and notes payable	700			5,952
Proceeds from sale-leaseback transactions	—			2,980
Proceeds from deposits on equipment	—			665
Principal payments on capital leases	(863		)	(864		)
Net cash provided by (used in) financing activities of continued operations	32,637			(2,326		)
DISCONTINUED OPERATIONS:
Operating cash flows	(2,666		)	(1,687		)
Investing cash flows	(113		)	(568		)
Financing cash flows	(3,003		)	1,498
Net cash provided by (used in) discontinued operations	(5,782		)	(757		)
Add: Cash balance of discontinued operations, beginning of period	127			1,246
Less: Cash balance of discontinued operations, end of period	530			127
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	10,630			(9,305		)
CASH AND CASH EQUIVALENTS, beginning of the year	4,701			14,006
CASH AND CASH EQUIVALENTS, end of the year	$	15,331		$	4,701

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BROADWIND ENERGY, INC. AND SUBSIDIARIES

SELECTED SEGMENT FINANCIAL INFORMATION

(IN THOUSANDS)

	Three Months Ended December 31,						Twelve Months Ended December 31,
	2010			2009			2010			2009
	(unaudited)
REVENUES:
Towers	$	30,296		$	17,217		$	76,150		$	93,316
Gearing	13,863			9,700			48,996			64,518
Services	3,544			5,435			12,090			27,575
Corporate and Other	(152		)	(201		)	(340		)	(611		)
Total revenues	$	47,551		$	32,151		$	136,896		$	184,798
OPERATING (LOSS) PROFIT:
Towers	$	(9,279	)	$	(1,923	)	$	(11,436	)	$	(499	)
Gearing	(2,217		)	(85,296		)	(13,678		)	(97,058		)
Services	(23,694		)	(1,216		)	(34,747		)	(610		)
Corporate and Other	(1,975		)	(3,193		)	(9,366		)	(14,086		)
Total operating loss	$	(37,165	)	$	(91,628	)	$	(69,227	)	$	(112,253	)

The Company reflects its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, the Company’s management believes that certain non-GAAP financial measures may provide users of this financial information meaningful comparisons between current results and results in prior operating periods. Management believes 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. See the table below for supplemental financial data and corresponding reconciliations to GAAP financial measures for the three months and year ended December 31, 2010 and 2009. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the Company’s reported results prepared in accordance with GAAP.

	Three Months Ended December 31,						Twelve Months Ended December 31,
	2010			2009			2010			2009
Adjusted EBITDA
Towers	$	5,560		$	1,322		$	6,616		$	6,028
Gearing	246			(2,016		)	(4,197		)	(703		)
Services	(371		)	(115		)	(3,915		)	2,822
Corporate and Other	(1,698		)	(2,388		)	(8,337		)	(6,234		)
Total Adjusted EBITDA	$	3,737		$	(3,197	)	$	(9,833	)	$	1,913

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	Three Months Ended December 31,						Twelve Months Ended December 31,
	2010			2009			2010			2009
Non-Cash Adjustments (Add backs) to EBITDA
Net loss from Continuing Operations	$	(37,302	)	$	(91,229	)	$	(69,753	)	$	(107,026	)
Interest	335			528			1,172			2,174
Taxes	180			(384		)	(160		)	(947		)
Depreciation	3,408			3,447			13,471			13,172
Amortization	428			1,466			2,992			9,524
Stock Compensation	472			764			1,668			2,805
Impairment Expense	36,216			82,211			40,777			82,211
Total Adjusted EBITDA	$	3,737		$	(3,197	)	$	(9,833	)	$	1,913

	Three Months Ended December 31,						Twelve Months Ended December 31,
	2010			2009			2010			2009
Towers Segment
Operating (Loss) Profit	$	(9,279	)	$	(1,923	)	$	(11,436	)	$	(499	)
Depreciation	863			831			3,416			3,303
Amortization	—			10			—			90
Stock Compensation	148			—			389			—
Other Income (Expense)	502			488			921			1,218
Impairment Expense	13,326			1,916			13,326			1,916
Total Adjusted EBITDA	$	5,560		$	1,322		$	6,616		$	6,028

	Three Months Ended December 31,						Twelve Months Ended December 31,
	2010			2009			2010			2009
Gearing Segment
Operating (Loss) Profit	$	(2,217	)	$	(85,296	)	$	(13,678	)	$	(97,058	)
Depreciation	2,319			2,301			9,111			9,055
Amortization	215			815			859			6,874
Stock Compensation	61			—			173			—
Other Income (Expense)	(132		)	(131		)	(662		)	131
Impairment Expense	—			80,295			—			80,295
Total Adjusted EBITDA	$	246		$	(2,016	)	$	(4,197	)	$	(703	)

	Three Months Ended December 31,						Twelve Months Ended December 31,
	2010			2009			2010			2009
Services Segment
Operating (Loss) Profit	$	(23,694	)	$	(1,216	)	$	(34,747	)	$	(610	)
Depreciation	182			274			775			690
Amortization	213			640			2,133			2,560
Stock Compensation	27			—			242			—
Other Income (Expense)	11			187			231			182
Impairment Expense	22,890			—			27,451			—
Total Adjusted EBITDA	$	(371	)	$	(115	)	$	(3,915	)	$	2,822

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	Three Months Ended December 31,						Twelve Months Ended December 31,
	2010			2009			2010			2009
Corporate and Other
Operating (Loss) Profit	$	(1,975	)	$	(3,193	)	$	(9,366	)	$	(14,086	)
Depreciation	43			41			168			123
Amortization	—			—			—			—
Stock Compensation	236			764			863			2,807
Other Income (Expense)	(2		)	—			(2		)	—
Impairment Expense	—			—			—			4,922
Total Adjusted EBITDA	$	(1,698	)	$	(2,388	)	$	(8,337	)	$	(6,234	)

10

EX-99.2

Exhibit 99.2

Investor Teleconference March 15, 2011 4Q10 and year-end 2010 results

2 Industry Data and Forward-Looking Statements Broadwind obtained the industry and market data used throughout this presentation from its 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 Broadwind’s control. This presentation includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 – that is, statements related to future, not past, events. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. In this context, forward-looking statements often address our expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “intend”, “expect”, “plan”, “will” or other similar words. These forward-looking statements involve certain risks and uncertainties that ultimately may not prove to be accurate and are subject to change based on various factors. Actual results and future events could differ materially from those anticipated in such statements. For further discussion of risks and uncertainties, individuals should refer to Broadwind's filings with the Securities and Exchange Commission. Broadwind undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this presentation. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. All forward-looking statements are qualified in their entirety by this cautionary statement. This document contains non-GAAP financial information. Broadwind’s management believes that certain non-GAAP financial measures may provide users of this financial information meaningful comparisons between current results and results in prior operating periods. Management believes 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 for, the Company’s reported results prepared in accordance with GAAP. Please see Broadwind’s earnings release dated as of March 15, 2011 for a reconciliation of certain non-GAAP measures presented in this document.

Order and Backlog Trend 3 Backlog Q4 Orders $20 million $64 million

Broadwind Towers Fourth Quarter 2010 Record monthly production at Manitowoc ISO Certification 2010 Market Share doubles to 10% Writedown of Brandon Facility – $13 million ($ in Millions) Q4 YEAR 2010 2009 2010 2009 Megawatts 284 120 554 541 Revenue - $ 30.3 17.2 76.2 93.3 Op Income - $ (9.3) (1.9) (11.4) (0.5) Adj EBITDA - $ 5.6 1.3 6.6 6.0 (-%) 18.4 7.7 8.9 6.5 4 Diversify customer base Increase capacity utilization Improve profit margin even with lower revenue Strategic Focus

Broadwind Brad Foote Gearing Fourth Quarter 2010 Sales up 43% from prior year Improved operations – lower scrap and warranty expense High growth oil and gas and mining markets ($ in Millions) Q4 YEAR 2010 2009 2010 2009 Megawatts Wind 207 107 883 729 Revenue - $ 13.9 9.7 49.0 64.5 Op Income - $ (2.2) (85.3) (13.7) (97.1) Adj EBITDA - $ 0.2 (2.0) (4.2) (0.7) (-%) 1.8 (20.8) (9.3) (1.1) 5 Growth in Non-Wind Markets Improve capacity utilization Leverage drivetrain service capabilities Improve margins Strategic Focus

Broadwind Services Fourth Quarter 2010 Completed $7 million drivetrain service investment Expanded tech service customer base Impairment of investment - $23 million ($ in Millions) Q4 YEAR 2010 2009 2010 2009 Revenue - $ 3.5 5.4 12.1 27.6 Op Income - $ (23.7) (1.2) (34.7) (0.6) Adj EBITDA - $ (0.4) (0.1) (3.9) 2.8 (-%) (10.5) (2.1) (32.4) (10.3) 6 Launch drivetrain services operation Shift from a turbine installation revenue stream to ongoing maintenance Expand O&M contracts Improve margins Strategic Focus

Operating Working Capital 7 12/31/10 12/31/09 Accounts Receivable, net 21,427 21,487 Inventories, net 17,739 8,825 Accounts Payable (22,342) (14,499) Customer Deposits (8,881) (10,199) Operating Working Capital 7,943 5,614 -% Q4 Revenue Annualized 4.2% 4.4%

Liquidity 8 12/31/10 12/31/09* Lines of credit, notes payable 140 10,717 Long term debt 11,108 24,799 Capital leases 2,768 4,416 Debt and Capital Lease 14,016 39,932 Cash and Equivalents 15,501 6,839 Net Debt (1,485) 33,093 Memo: Available line of credit 10,000 1,402 * Not restated for Badger divestiture

Eight Quarter Sales & EBITDA Trend 9 Revenue Adj EBITDA