Broadwind Energy posts wider Q4 loss sees diseased Q1 rev

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(Reuters) - Broadwind Energy Inc reported a wider fourth-quarter loss, and said it expects sequentially lower first-quarter revenue, sending its shares down 20 percent.

The wind energy company, however, said revenue would likely trough in the first quarter.

For the latest fourth quarter, Broadwind reported a net loss of $92.6 million, or 96 cents a share, compared with a net loss of $12.4 million, or 13 cents a share, last year.

Excluding charges, the company posted a loss of 11 cents a share, unchanged from a year ago. Analysts were looking for a loss of 7 cents a share.

Sales slumped 58 percent to $32.9 million, which way below consensus estimates of $46.3 million.

Broadwind said weak demand and low capacity utilization led to significantly lower results in all operating segments.

Shares of the company fell 20 percent to $4.55, and were among the top percentage losers Friday morning on Nasdaq.

(Reporting by Adveith Nair in Bangalore; Editing by Ratul Ray Chaudhuri)