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| The Company reports 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 with 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 twelve months ended December 31, 2010-2013. 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. Amounts shown in the table below for the twelve months ended December 31, 2013 are approximate. Twelve Months Ended Twelve Months Ended Twelve Months Ended Twelve Months Ended December 31, 2010 December 31, 2011 December 31, 2012 December 31, 2013 (In thousands) (In thousands) (In thousands) (In thousands) Operating loss $(69,227) $(20,429) $(17,297) $ (13,000-13,500) Impairment charges 40,777 Depreciation and amortization 16,463 14,533 15,678 14,000 Share-based compensation and other stock payments 2,291 2,025 3,505 2,500 Other income 487 873 1,271 1,000 Restructuring 869 2,354 6,000 Adjusted EBITDA $(9,210) $(2,129) $5,511 $10,000-10,500© 2014 Broadwind Energy, Inc. All Rights Reserved 17 |