BROADWIND INC
For the period ended Sep 30, 2024. Filed Nov 13, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 13, 2024
BWEN$2.96+4.6%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income | $2,066 | $6,578 |
| Adjustments to reconcile net cash used in operating activities: | ||
| Depreciation and amortization expense | 4,986 | 4,772 |
| Deferred income taxes | (2) | (7) |
| Share-based compensation | 807 | 649 |
| Allowance for credit losses | 4 | 16 |
| Common stock issued under defined contribution 401(k) plan | 879 | 978 |
| (Gain) loss on disposal of assets | (114) | 48 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 5,866 | (24,251) |
| AMP credit receivable | 4,152 | (11,217) |
| Contract assets | (305) | (221) |
| Inventories | (2,976) | 4,356 |
| Prepaid expenses and other current assets | 1,224 | (162) |
| Accounts payable | (2,932) | (1,577) |
| Accrued liabilities | (2,476) | 1,925 |
| Customer deposits | (12,134) | (4,646) |
| Other non-current assets and liabilities | (31) | 166 |
| Net cash used in operating activities | (986) | (22,593) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchases of property and equipment | (3,279) | (5,315) |
| Proceeds from disposals of property and equipment | 159 | 15 |
| Net cash used in investing activities | (3,120) | (5,300) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Proceeds from line of credit, net | 5,262 | 18,518 |
| Proceeds from long-term debt | 1,540 | 387 |
| Payments on long-term debt | (1,005) | (893) |
| Payments on finance leases | (1,276) | (994) |
| Shares withheld for taxes in connection with issuance of restricted stock | (130) | (117) |
| Net cash provided by financing activities | 4,391 | 16,901 |
| NET INCREASE (DECREASE) IN CASH | 285 | (10,992) |
| CASH beginning of the period | 1,099 | 12,732 |
| CASH end of the period | $1,384 | $1,740 |
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