Broadwind (BWEN) 10-Q 30 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 23, 2015
Document and Entity Information
Entity Registrant Name	BROADWIND ENERGY, INC.
Entity Central Index Key	1,120,370
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		14,681,363
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
CURRENT ASSETS:
Cash and cash equivalents	$ 509	$ 12,149
Short-term investments	0	8,024
Restricted cash	83	83
Accounts receivable, net of allowance for doubtful accounts of $96 and $82 as of June 30, 2015 and December 31, 2014, respectively	21,323	20,012
Inventories, net	43,152	34,921
Prepaid expenses and other current assets	1,112	1,815
Assets held for sale	1,517	738
Total current assets	67,696	77,742
Property and equipment, net	58,721	62,952
Intangible assets, net	5,237	5,459
Other assets	407	464
TOTAL ASSETS	132,061	146,617
CURRENT LIABILITIES:
Lines of credit and notes payable	527
Current maturities of long-term debt	779	268
Current portions of capital lease obligations	609	766
Accounts payable	17,666	18,461
Accrued liabilities	8,261	9,553
Customer deposits	8,602	22,619
Total current liabilities	36,444	51,667
LONG-TERM LIABILITIES:
Long-term debt, net of current maturities	6,886	2,650
Long-term capital lease obligations, net of current portions	143	427
Other	3,001	3,493
Total long-term liabilities	$ 10,030	$ 6,570
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Preferred stock, $0.001 par value; 10,000,000 shares authorized; no shares issued or outstanding
Common stock, $0.001 par value; 30,000,000 shares authorized; 14,955,300 and 14,844,307 shares issued as of June 30, 2015, and December 31, 2014, respectively	$ 15	$ 15
Treasury stock, at cost, 273,937 shares at June 30,2015 and December 31, 2014, respectively	(1,842)	(1,842)
Additional paid-in capital	377,792	377,185
Accumulated deficit	(290,378)	(286,978)
Total stockholders' equity	85,587	88,380
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 132,061	$ 146,617

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
CONSOLIDATED BALANCE SHEETS
Accounts receivable, allowance for doubtful accounts (in dollars)	$ 96	$ 82
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	30,000,000	30,000,000
Common stock, shares issued	14,955,300	14,844,307
Treasury stock, shares	273,937	273,937

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
CONSOLIDATED STATEMENTS OF OPERATIONS
Revenues	$ 65,225	$ 68,381	$ 116,276	$ 127,181
Cost of sales	57,991	59,231	108,303	112,669
Restructuring		519		788
Gross profit	7,234	8,631	7,973	13,724
OPERATING EXPENSES:
Selling, general and administrative	5,262	5,620	10,868	11,537
Intangible amortization	111	111	222	222
Regulatory settlement		750		750
Restructuring		49		109
Total operating expenses	5,373	6,530	11,090	12,618
Operating income (loss)	1,861	2,101	(3,117)	1,106
OTHER (EXPENSE) INCOME, net:
Interest expense, net	(264)	(184)	(436)	(344)
Other, net	(44)	(16)	168	120
Total other expense, net	(308)	(200)	(268)	(224)
Net income (loss) before (benefit) provision for income taxes	1,553	1,901	(3,385)	882
(Benefit) provision for income taxes	(62)	41	15	65
NET INCOME (LOSS)	$ 1,615	$ 1,860	$ (3,400)	$ 817
NET LOSS PER COMMON SHARE - BASIC:
Net income (loss) per share (in dollars per share)	$ 0.11	$ 0.13	$ (0.23)	$ 0.06
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - Basic (in shares)	14,662,934	14,732,423	14,630,308	14,696,137
NET LOSS PER COMMON SHARE - DILUTED:
Net income (loss) per share (in dollars per share)	$ 0.11	$ 0.12	$ (0.23)	$ 0.05
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING - Diluted (in shares)	14,780,954	15,180,499	14,630,308	15,178,649

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Balance at Dec. 31, 2013	$ 15		$ 376,125	$ (280,810)	$ 95,330
Balance (in shares) at Dec. 31, 2013	14,627,990
Increase (Decrease) in Stockholders' Equity
Stock issued for restricted stock (in shares)	196,208
Stock issued under stock option plans			9		9
Stock issued under stock option plans (in shares)	2,863
Stock issued under defined contribution 401(k) retirement savings plan			163		163
Stock issued under defined contribution 401(k) retirement savings plan (in shares)	17,246
Stock repurchases under repurchase program		$ (1,842)			(1,842)
Treasury Stock, Shares, Acquired		273,937
Share-based compensation			888		888
Net loss				(6,168)	(6,168)
Balance at Dec. 31, 2014	$ 15	$ (1,842)	377,185	(286,978)	$ 88,380
Balance (in shares) at Dec. 31, 2014	14,844,307	(273,937)			14,844,307
Increase (Decrease) in Stockholders' Equity
Stock issued for restricted stock (in shares)	110,993
Share-based compensation			607		$ 607
Net loss				(3,400)	(3,400)
Balance at Jun. 30, 2015	$ 15	$ (1,842)	$ 377,792	$ (290,378)	$ 85,587
Balance (in shares) at Jun. 30, 2015	14,955,300	(273,937)			14,955,300

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (3,400)	$ 817
Adjustments to reconcile net cash used in operating activities:
Depreciation and amortization expense	5,097	6,264
Impairment charges	38
Stock-based compensation	607	330
Allowance for doubtful accounts	14	94
Common stock issued under defined contribution 401(k) plan		163
Loss on disposal of assets		5
Changes in operating assets and liabilities:
Accounts receivable	(1,325)	(6,094)
Inventories	(8,231)	849
Prepaid expenses and other current assets	607	443
Accounts payable	(654)	(6,317)
Accrued liabilities	(1,292)	1,723
Customer deposits	(14,021)	(8,496)
Other non-current assets and liabilities	(571)	(327)
Net cash used in operating activities	(23,131)	(10,546)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of available for sale securities	(1,884)	(2,563)
Sales of available for sale securities	5,083	1,051
Maturities of available for sale securities	4,825	1,955
Purchases of property and equipment	(1,604)	(4,542)
Proceeds from disposals of property and equipment		1,045
Net cash provided by (used in) by investing activities	6,420	(3,054)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on lines of credit and notes payable	(80,700)	(43)
Proceeds from lines of credit and notes payable	81,212
Proceeds from long-term debt	5,000
Principal payments on capital leases	(441)	(494)
Net cash provided by (used in) financing activities	5,071	(537)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(11,640)	(14,137)
CASH AND CASH EQUIVALENTS, beginning of the period	12,149	24,936
CASH AND CASH EQUIVALENTS, end of the period	509	10,799
Supplemental cash flow information:
Interest paid	293	212
Income taxes paid	35	2
Non-cash investing and financing activities:
Issuance of restricted stock grants	$ 607	186
Common stock issued under defined contribution 401(k) plan		$ 163

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2015
BASIS OF PRESENTATION
BASIS OF PRESENTATION	NOTE 1 — BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the financial statements do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments, including normal recurring accruals, considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the twelve months ending December 31, 2015. The December 31, 2014 condensed consolidated balance sheet was derived from audited financial statements, but does not include all disclosures required by GAAP. This financial information should be read in conjunction with the condensed consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. The unaudited condensed consolidated financial statements presented herein include the accounts of Broadwind Energy, Inc. and its wholly-owned subsidiaries Broadwind Towers, Inc. (“Broadwind Towers”), Brad Foote Gear Works, Inc. (“Brad Foote”) and Broadwind Services, LLC (“Broadwind Services”) (collectively, the “Subsidiaries”). All intercompany transactions and balances have been eliminated. There have been no material changes in the Company’s significant accounting policies during the three and six months ended June 30, 2015 as compared to the significant accounting policies described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. Company Description As used in this Quarterly Report on Form 10-Q, the terms “we,” “us,” “our,” and the “Company” refer to Broadwind Energy, Inc., a Delaware corporation headquartered in Cicero, Illinois, and the Subsidiaries. The Company provides technologically advanced high-value products and services to energy, mining and infrastructure sector customers, primarily in the United States (the “U.S.”). The Company’s most significant presence is within the U.S. wind energy industry, although the Company has diversified into other industrial markets in order to improve its capacity utilization and reduce its exposure to uncertainty related to favorable governmental policies currently supporting the U.S. wind energy industry. For the first six months of 2015, 80% of the Company’s revenue was derived from sales associated with new wind turbine installations. The Company’s product and service portfolio provides its wind energy customers, including wind turbine manufacturers, wind farm developers and wind farm operators, with access to a broad array of component and service offerings. Outside of the wind energy market, the Company provides precision gearing and specialty weldments to a broad range of industrial customers for oil and gas, mining and other industrial applications. Liquidity On August 23, 2012, the Company established a $20,000 secured revolving line of credit (the “Credit Facility”) with AloStar Bank of Commerce (“AloStar”). Pursuant to an amendment dated June 29, 2015, the Credit Facility was converted into a $15,000 secured revolving line of credit and a term loan in the amount of $5,000 (the “Term Loan”). The Company meets its short term liquidity needs through cash generated from operations, through its available cash balances and through the Credit Facility. The Credit Facility and the Term Loan each mature on August 31, 2016. Under the terms of the Credit Facility, AloStar will advance funds when requested up to the level of the Company’s borrowing base, which consists of approximately 85% of eligible receivables and approximately 50% of eligible inventory. Under the Credit Facility, borrowings are continuous and all cash receipts are automatically applied to the outstanding borrowed balance. The Company uses the Credit Facility from time to time to fund temporary increases in working capital, and believes the Credit Facility, together with the operating cash generated by the business, is sufficient to meet all cash obligations. As of June 30, 2015, cash and cash equivalents and short-term investments totaled $509 , a decrease of $19,664 from December 31, 2014, and $527 was outstanding under the Credit Facility. The Company had the ability to borrow up to $11,973 under the Credit Facility and was in compliance with all applicable covenants as of June 30, 2015. The significant reduction in cash and cash equivalents since December 31, 2014 was due in part to sharply higher steel plate inventories, and is believed to be temporary. Towers inventory at June 30, 2015 was $8,485 higher than at December 31, 2014. The higher towers inventory is due mainly to a combination of West Coast port delays experienced in early 2015 and lower tower sales reflecting the residual effects of production issues in the Company’s Abilene, Texas tower production facility in late 2014 and early 2015. Since March, 2015 the facility has been performing near its targeted production rate. In addition, the higher towers finished goods inventory in the first quarter of 2015 was due to production re-sequencing necessitated by supply shortages caused by labor slowdowns at West Coast ports. The slowdowns required the production of certain towers ahead of schedule where materials were already on hand, so as not to lose scarce production slots and maintain capacity. The majority of the extra finished goods were sold in the second quarter of 2015, and the West Coast port labor slowdown is now resolved, but the balancing of inventory supply and customer demand will continue throughout the rest of the calendar year. Total debt and capital lease obligations at June 30, 2015 totaled $8,944 , and the Company is obligated to make principal payments under the outstanding debt totaling $1,306 over the next twelve months. Since its inception, the Company has continuously incurred annual operating losses, although the size of the annual losses has been trending lower. The Company anticipates that current cash resources, amounts available under the Credit Facility, and cash to be generated from operations will be adequate to meet the Company’s liquidity needs for at least the next twelve months. If assumptions regarding the Company’s production, sales and subsequent collections from several of the Company’s large customers, as well as customer deposits and revenues generated from new customer orders, are materially inconsistent with management’s expectations, the Company may in the future encounter cash flow and liquidity issues. If the Company’s operational performance deteriorates significantly, it may be unable to comply with existing financial covenants, and could lose access to the Credit Facility. This could limit the Company’s operational flexibility or require a delay in making planned investments. Any additional equity financing, if available, may be dilutive to stockholders, and additional debt financing, if available, would likely require new financial covenants or impose other restrictions on the Company. While the Company believes that it will continue to have sufficient cash available to operate its businesses and to meet its financial obligations and debt covenants, there can be no assurances that its operations will generate sufficient cash, or that credit facilities will be available in an amount sufficient to enable the Company to meet these financial obligations. Please refer to Note 16, “Restructuring” of these condensed consolidated financial statements for a discussion of the restructuring plan which the Company initiated in the third quarter of 2011. The Company incurred a total of approximately $13,700 of net costs to implement this restructuring plan.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2015
EARNINGS PER SHARE
EARNINGS PER SHARE	NOTE 2 — EARNINGS PER SHARE The following table presents a reconciliation of basic and diluted earnings per share for the three and six months ended June 30, 2015 and 2014, as follows: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Basic earnings per share calculation: Net income (loss) $ $ $ $ Weighted average number of common shares outstanding Basic net income (loss) per share $ $ $ $ Diluted earnings per share calculation: Net income (loss) $ $ $ $ Weighted average number of common shares outstanding Common stock equivalents: Stock options and non-vested stock awards - Weighted average number of common shares outstanding Diluted net income (loss) per share $ $ $ $

CASH AND CASH EQUIVALENTS AND S

CASH AND CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS	6 Months Ended
	Jun. 30, 2015
CASH AND CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
CASH AND CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS	NOTE 3 — CASH AND CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS Cash and cash equivalents typically comprise cash balances and readily marketable investments with original maturities of three months or less, such as money market funds, short-term government bonds, Treasury bills, marketable securities and commercial paper. Marketable investments with original maturities between three and twelve months are recorded as short-term investments. The Company’s treasury policy is to invest excess cash in money market funds or other investments, which are generally of a short-term duration based upon operating requirements. Income earned on these investments is recorded to interest income in the Company’s condensed consolidated statements of operations. As of June 30, 2015 and December 31, 2014, cash and cash equivalents totaled $509 and $12,149 , respectively, and short-term investments totaled $0 and $8,024 , respectively. The components of cash and cash equivalents and short-term investments as of June 30, 2015 and December 31, 2014 are summarized as follows: June 30, December 31, 2015 2014 Cash and cash equivalents: Cash $ $ Money market funds — Municipal bonds — Total cash and cash equivalents Short-term investments (available-for-sale): Municipal bonds — Total cash and cash equivalents and short-term investments $ $ The significant decrease in cash and cash equivalents and short-term investments is primarily attributable to the need to fund increased net losses and increased net working capital, primarily to purchase inventory. See Note 4, “Inventories” of these consolidated financial statements related to the inventory activities that caused the need to utilize the cash.

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2015
INVENTORIES
INVENTORIES	NOTE 4 — INVENTORIES The components of inventories as of June 30, 2015 and December 31, 2014 are summarized as follows: June 30, December 31, 2015 2014 Raw materials $ $ Work-in-process Finished goods Less: Reserve for excess and obsolete inventory Net inventories $ $ The significant increase in inventory is primarily attributable to the Towers and Weldments segment, where inventories have risen $8,485 since December 31, 2014. The sharp rise in raw materials reflects unusually high levels of steel plate at the Company’s Abilene, Texas tower plant, where production difficulties encountered in late 2014 and extending into early 2015 reduced the rate of material consumption; those difficulties have been resolved. The increase in the reserve for excess and obsolete inventory was caused by the decision to exit the market for servicing older-generation kilowatt and community wind turbines and consolidate the Company’s repair activities into a single facility within the Services segment.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2015
INTANGIBLE ASSETS
INTANGIBLE ASSETS	NOTE 5 — INTANGIBLE ASSETS Intangible assets represent the fair value assigned to definite-lived assets such as trade names and customer relationships as part of the Company’s acquisition of Brad Foote completed during 2007. Intangible assets are amortized on a straight-line basis over their estimated useful lives, which range from 10 to 20 years. The Company tests intangible assets for impairment when events or circumstances indicate that the carrying value of these assets may not be recoverable. During the second quarter of 2015, the Company identified triggering events associated with Brad Foote’s current period operating loss combined with its history of continued operating losses. As a result, the Company evaluated the recoverability of certain of its identifiable intangible assets. Based upon the Company’s assessment, the recoverable amount was in excess of the carrying amount of the intangible assets, and no impairment to these assets was indicated as of June 30, 2015. As of June 30, 2015 and December 31, 2014, the cost basis, accumulated amortization and net book value of intangible assets were as follows: June 30, 2015 December 31, 2014 Weighted Weighted Net Average Net Average Cost Accumulated Book Amortization Cost Accumulated Book Amortization Basis Amortization Value Period Basis Amortization Value Period Intangible assets: Customer relationships $ $ $ $ $ $ Trade names Intangible assets $ $ $ $ $ $ As of June 30, 2015, estimated future amortization expense is as follows: 2015 $ 2016 2017 2018 2019 2020 and thereafter Total $

ACCRUED LIABILITIES

ACCRUED LIABILITIES	6 Months Ended
	Jun. 30, 2015
ACCRUED LIABILITIES
ACCRUED LIABILITIES	NOTE 6 — ACCRUED LIABILITIES Accrued liabilities as of June 30, 2015 and December 31, 2014 consisted of the following: June 30, December 31, 2015 2014 Accrued payroll and benefits $ $ Accrued property taxes Income taxes payable Accrued professional fees Accrued warranty liability Accrued regulatory settlement Accrued environmental reserve Accrued self-insurance reserve Accrued other Total accrued liabilities $ $ The accrued regulatory settlement includes $500 for the current portion of the environmental settlement recorded in 2013 and $256 related to the settlement with the U.S. Securities and Exchange Commission (“SEC”) recorded in 2014.

DEBT AND CREDIT AGREEMENTS

DEBT AND CREDIT AGREEMENTS	6 Months Ended
	Jun. 30, 2015
DEBT AND CREDIT AGREEMENTS
DEBT AND CREDIT AGREEMENTS	NOTE 7 — DEBT AND CREDIT AGREEMENTS The Company’s outstanding debt balances as of June 30, 2015 and December 31, 2014 consisted of the following: June 30, December 31, 2015 2014 Line of credit $ $ — Term loans and notes payable Less: Current portion Long-term debt, net of current maturities $ $ Credit Facilities AloStar Credit Facility On June 29, 2015, AloStar and the Company executed a Seventh Amendment to the Loan and Security Agreement dated August 23, 2012 establishing the Credit Facility (the “Loan Agreement”) . The amendment extended the maturity date of the Credit Facility for one additi onal year to August 31, 2016, modified the applicable interest rate minimum quarterly interest charges , and transition ed $5,000 of the original Credit Facility amount into the Term Loan. Under the Credit Facility, AloStar will advance funds when requested against a borrowing base consisting of approximately 85% of the face value of eligible accounts receivable of the Company and approximately 50% of the book value of eligible inventory of the Company. Borrowings under the Credit Facility bear interest at a per annum rate equal to the one-month London Interbank Offered Rate (“LIBOR”) plus a margin of 3.25% , subject to a minimum. The Company must also pay an unused facility fee to AloStar equal to 0.50% per annum on the unused portion of the Credit Facility , along with other standard fees. AloStar funded the full amount of the Term Loan on June 30, 2015. Borrowings under the Term Loan bear interest at a per annum rate equal to 3.50% plus the applicable daily weighted average LIBOR. The Term Loan payments are being amortized at approximately $60 per month with a balloon payment of approximately $4,220 due in August 2016. The Loan Agreement contains customary representations and warranties. It also contains a requirement that the Company, on a consolidated basis, maintain a minimum monthly fixed charge coverage ratio and minimum monthly earnings before interest, taxes, depreciation, amorti zation, restructuring and share- based payments (“Adjusted EBITDA”), along with other customary restrictive covenants, certain of which are subject to materiality thresholds, baskets and customary exceptions and qualifications. The obligations under the Loan Agreement are secured by, subject to certain exclusions, (i) a first priority security interest in all of the accounts receivable, inventory, chattel paper, payment intangibles, cash and cash equivalents and other working capital assets and stock or other equity interests in the Subsidiaries, and (ii) a first priority security interest in all of Brad Foote’s equipment. As of June 30, 2015, there was $527 in outstanding indebtedness under the Credit Facility, the Company had the ability to borrow up to $11,973 thereunder, the per annum interest rate thereunder was 4.25% , and there was $5,000 in outstanding indebtedness under the Term Loan. The Company was in compliance with all applicable covenants under the Loan Agreement as of June 30, 2015. Other Included in Long Term Debt, Net of Current Maturities is $2,600 associated with the New Markets Tax Credit transaction described further in Note 15, “New Markets Tax Credit Transaction” of these condensed consolidated financial statements. Additionally, the Company has approximately $64 of other term loans outstanding.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2015
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS	NOTE 8 — FAIR VALUE MEASUREMENTS The Company measures its financial assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., exit price) in an orderly transaction between market participants at the measurement date. Additionally, the Company is required to provide disclosure and categorize assets and liabilities measured at fair value into one of three different levels depending on the assumptions (i.e., inputs) used in the valuation. Level 1 provides the most reliable measure of fair value while Level 3 generally requires significant management judgment. Financial assets and liabilities are classified in their entirety based on the lowest level of input significant to the fair value measurement. Financial instruments are assessed quarterly to determine the appropriate classification within the fair value hierarchy. Transfers between fair value classifications are made based upon the nature and type of the observable inputs. The fair value hierarchy is defined as follows: Level 1 — Valuations are based on unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 — Valuations are based on quoted prices for similar assets or liabilities in active markets, or quoted prices in markets that are not active for which significant inputs are observable, either directly or indirectly. For the Company’s municipal bonds, the Company notes that although quoted prices are available and used to value said assets, they are traded less frequently. Level 3 — Valuations are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Inputs reflect management’s best estimate of what market participants would use in valuing the asset or liability at the measurement date. The Company used market negotiations to value Brad Foote’s assets. The Company used real estate appraisals to value the Clintonville, Wisconsin facility owned by Broadwind Towers (the “Clintonville Facility”). The following tables represent the fair values of the Company’s financial assets as of June 30, 2015 and December 31, 2014: June 30, 2015 Level 1 Level 2 Level 3 Total Assets measured on a nonrecurring basis: Gearing equipment $ — $ — $ $ Clintonville, WI facility — — Gearing Cicero Ave. facility — — Total assets at fair value $ — $ — $ $ December 31, 2014 Level 1 Level 2 Level 3 Total Assets measured on a recurring basis: Municipal bonds and money market funds $ — $ $ — $ Assets measured on a nonrecurring basis: Clintonville, WI facility — — Gearing Cicero Ave. facility — — Total assets at fair value $ — $ $ $ Fair value of financial instruments The carrying amounts of the Company’s financial instruments, which include cash and cash equivalents, restricted cash, accounts receivable, accounts payable and customer deposits, approximate their respective fair values due to the relatively short-term nature of these instruments. Based upon interest rates currently available to the Company for debt with similar terms, the carrying value of the Company’s long-term debt is approximately equal to its fair value. Assets measured at fair value on a nonrecurring basis The fair value measurement approach for long-lived assets utilizes a number of significant unobservable inputs or Level 3 assumptions. These assumptions include, among others, projections of the Company’s future operating results, the implied fair value of these assets using an income approach by preparing a discounted cash flow analysis and a market-based approach based on the Company’s market capitalization, and other subjective assumptions. To the extent projections used in the Company’s evaluations are not achieved, there may be a negative effect on the valuation of these assets. Due to the Company’s operating losses within Brad Foote and Broadwind Services in the first and second quarter s of 2015 combined with its history of continued operating losses, the Company continues to evaluate the recoverability of certain of its identifiable intangible assets and certain property and equipment assets. Based upon the Company’s June 30, 2015 assessment, the recoverable amount of undiscounted cash flows based upon the Company’s most recent projections substantially exceeded the carrying amount of invested capital for the Gearing and Services segments, respectively, and no impairment to these assets was indicated.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2015
INCOME TAXES
INCOME TAXES	NOTE 9 — INCOME TAXES Effective tax rates differ from federal statutory income tax rates primarily due to changes in the Company’s valuation allowance, permanent differences and provisions for state and local income taxes. As of June 30, 2015, the Company had no net deferred income taxes due to the full recorded valuation allowance. During the six months ended June 30, 2015, the Company recorded a provision for income taxes of $15 compared to a provision for income taxes of $65 during the six months ended June 30, 2014. The Company files income tax returns in U.S. federal and state jurisdictions. As of June 30, 2015, open tax years in federal and some state jurisdictions date back to 1996 due to the taxing authorities’ ability to adjust operating loss carryforwards. As of December 31, 2014, the Company had net operating loss (“NOL”) carryforwards of $173,823 expiring in various years through 2034. It is reasonably possible that unrecognized tax benefits will decrease by up to approximately $63 as a result of the expiration of the applicable statutes of limitations within the next twelve months. In addition, Section 382 of the Internal Revenue Code of 1986, as amended (the “IRC”), generally imposes an annual limitation on the amount of NOL carryforwards and associated built-in losses that may be used to offset taxable income when a corporation has undergone certain changes in stock ownership. The Company’s ability to utilize NOL carryforwards and built-in losses may be limited, under this section or otherwise, by the Company’s issuance of common stock or by other changes in stock ownership. Upon completion of the Company’s analysis of IRC Section 382, the Company has determined that aggregate changes in stock ownership have triggered an annual limitation on NOL carryforwards and built-in losses available for utilization. To the extent the Company’s use of NOL carryforwards and associated built-in losses is significantly limited in the future due to additional changes in stock ownership, the Company’s income could be subject to U.S. corporate income tax earlier than it would be if the Company were able to use NOL carryforwards and built-in losses without such limitation, which could result in lower profits and the loss of benefits from these attributes. The Company announced on February 13, 2013, that its Board of Directors (the “Board”) had adopted a Stockholder Rights Plan (the “Rights Plan”) for a three -y ear period designed to preserve the Company’s substantial tax assets associated with NOL carryforwards under IRC Section 382. The Rights Plan is intended to act as a deterrent to any person or group, together with its affiliates and associates, being or becoming the beneficial owner of 4.9% or more of the Company’s common stock and thereby triggering a further limitation of the Company’s available NOL carryforwards. In connection with the adoption of the Rights Plan, the Board declared a non ‑taxable dividend of one preferred share purchase right (a “Right”) for each outstanding share of the Company’s common stock to the Company’s stockholders of record as of the close of business on February 22, 2013. Each Right entitles its holder to purchase from the Company one one ‑ thousandth of a share of the Company’s Series A Junior Participating Preferred Stock at an exercise price of $14.00 per Right, subject to adjustment. As a result of the Rights Plan, any person or group that acquires beneficial ownership of 4.9% or more of the Company’s common stock without the approval of the Board would be subject to significant dilution in the ownership interest of that person or group. Stockholders who owned 4.9% or more of the outstanding shares of the Company’s common stock as of February 12, 2013 will not trigger the preferred share purchase rights unless they acquire additional shares. The Rights Plan was subsequently approved by the Company’s stockholders at the Company’s 2013 Annual Meeting of Stockholders. As of June 30, 2015, the Company had $185 of unrecognized tax benefits, all of which would have a favorable impact on income tax expense. The Company recognizes interest and penalties related to uncertain tax positions as income tax expense. The Company had accrued interest and penalties of $117 as of June 30, 2015. As of December 31, 2014, the Company had unrecognized tax benefits of $199 , of which $118 represented accrued interest and penalties.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2015
SHARE-BASED COMPENSATION
SHARE-BASED COMPENSATION	NOTE 10 — SHARE-BASED COMPENSATION Overview of Share-Based Compensation Plans 2007 Equity Incentive Plan The Company has granted incentive stock options and other equity awards pursuant to the Amended and Restated Broadwind Energy, Inc. 2007 Equity Incentive Plan (the “2007 EIP”), which was approved by the Board in October 2007 and by the Company’s stockholders in June 2008. The 2007 EIP has been amended periodically since its original approval. The 2007 EIP reserved 691,051 shares of the Company’s common stock for grants to officers, directors, employees, consultants and advisors upon whose efforts the success of the Company and its affiliates depends to a large degree. As of June 30, 2015, the Company had reserved 57,783 shares for issuance upon the exercise of stock options outstanding and 8,683 shares for issuance upon the vesting of restricted stock unit (“RSU”) awards outstanding. As of June 30, 2015, 247,714 shares of common stock reserved for stock options and RSU awards under the 2007 EIP have been issued in the form of common stock. 2012 Equity Incentive Plan The Company has granted incentive stock options and other equity awards pursuant to the Broadwind Energy, Inc. 2012 Equity Incentive Plan (the “2012 EIP”), which was approved by the Board in March 2012 and by the Company’s stockholders in May 2012. The 2012 EIP reserves 1,200,000 shares of the Company’s common stock for grants to officers, directors, employees, consultants and advisors upon whose efforts the success of the Company and its affiliates will depend to a large degree. As of June 30, 2015, the Company had reserved 100,935 shares for issuance upon the exercise of stock options outstanding and 449,613 shares for issuance upon the vesting of RSU awards outstanding. As of June 30, 2015, 419,915 shares of common stock reserved for stock options and RSU awards under the 2012 EIP have been issued in the form of common stock. 2015 Equity Incentive Plan The Company has granted equity awards pursuant to the Broadwind Energy, Inc. 2015 Equity Incentive Plan (the “2015 EIP;” together with the 2007 EIP and the 2012 EIP, the “Equity Incentive Plans”), which was approved by the Board in February 2015 and by the Company’s stockholders in April 2015. The purposes of the 2015 EIP are (i) to align the interests of the Company’s stockholders and recipients of awards under the 2015 EIP by increasing the proprietary interest of such recipients in the Company’s growth and success; (ii) to advance the interests of the Company by attracting and retaining officers, other employees, non-employee directors and independent contractors; and (iii) to motivate such persons to act in the long-term best interests of the Company and its stockholders. Under the 2015 EIP, the Company may grant (i) non-qualified stock options; (ii) “incentive stock options” (within the meaning of IRC Section 422); (iii) stock appreciation rights; (iv) restricted stock and RSUs; and (v) performance awards. The 2015 EIP reserves 1,100,000 shares of the Company’s common stock for grants to officers, directors, employees, consultants and advisors upon whose efforts the success of the Company and its affiliates will depend to a large degree. As of June 30, 2015, the Company had reserved 47,216 shares for issuance upon the vesting of RSU awards outstanding. As of June 30, 2015, no shares of common stock reserved for RSU awards under the 2015 EIP have been issued in the form of common stock. Stock Options. The exercise price of stock options granted under the Equity Incentive Plans is equal to the closing price of the Company’s common stock on the date of grant. Stock options generally become exercisable on the anniversary of the grant date, with vesting terms that may range from one to five years from the date of grant. Additionally, stock options expire ten years after the date of grant. The fair value of stock options granted is expensed ratably over their vesting term. Restricted Stock Units (RSUs). The granting of RSUs is provided for under the Equity Incentive Plans. RSUs generally vest on the anniversary of the grant date, with vesting terms that may range from one to five years from the date of grant. The fair value of each RSU granted is equal to the closing price of the Company’s common stock on the date of grant and is generally expensed ratably over the vesting term of the RSU award. The following table summarizes stock option activity during the six months ended June 30, 2015 under the Equity Incentive Plans, as follows: Weighted Average Options Exercise Price Outstanding as of December 31, 2014 $ Granted — — Exercised — — Forfeited — — Expired — — Outstanding as of June 30, 2015 $ Exercisable as of June 30, 2015 $ The following table summarizes RSU activity during the six months ended June 30, 2015 under the Equity Incentive Plans, as follows: Weighted Average Number of Grant-Date Fair Value Shares Per Share Outstanding as of December 31, 2014 $ Granted $ Vested $ Forfeited $ Outstanding as of June 30, 2015 $ The fair value of each stock option award is estimated on the date of grant using the Black-Scholes option pricing model. The determination of the fair value of each stock option is affected by the Company’s stock price on the date of grant, as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, the expected volatility of the price of the Company’s stock over the expected life of the awards and actual and projected stock option exercise behavior. There were no stock options granted during the six months ended June 30, 2015. The Company utilized a forfeiture rate of 25% during the six months ended June 30, 2015 and 2014 for estimating the forfeitures of stock compensation granted. The following table summarizes share-based compensation expense included in the Company’s condensed consolidated statements of operations for the six months ended June 30, 2015 and 2014, as follows: Six Months Ended June 30, 2015 2014 Share-based compensation expense: Cost of sales $ $ Selling, general and administrative Income tax benefit (1) — — Net effect of share-based compensation expense on net loss $ $ Reduction in earnings per share: Basic earnings per share $ $ Diluted earnings per share $ $ (1) Income tax benefit is not illustrated because the Company is currently in a full tax valuation allowance position and an actual income tax benefit was not realized for the six months ended June 30, 2015 and 2014. The result of the loss situation creates a timing difference, resulting in a deferred tax asset, which is fully reserved for in the Company’s valuation allowance. As of June 30, 2015, the Company estimates that pre-tax compensation expense for all unvested share-based awards, including both stock options and RSUs, in the amount of approximately $1,947 will be recognized through 2018. The Company expects to satisfy the exercise of stock options and future distribution of shares of restricted stock by issuing new shares of common stock.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS	6 Months Ended
	Jun. 30, 2015
LEGAL PROCEEDINGS
LEGAL PROCEEDINGS	NOTE 11 — LEGAL PROCEEDINGS The Company is party to certain claims and legal proceedings arising in the ordinary course of business, none of which is deemed to be individually significant at this time. Due to the inherent uncertainty of litigation, there can be no assurance that the resolution of any particular claim or proceeding would not have a material adverse effect on the Company’s results of operations, financial position or liquidity. It is possible that if one or more of such matters were decided against the Company, the effects could be material to the Company’s results of operations in the period in which the Company would be required to record or adjust the related liability and could also be material to the Company’s cash flows in the periods the Company would be required to pay such liability.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Jun. 30, 2015
RECENT ACCOUNTING PRONOUNCEMENTS
RECENT ACCOUNTING PRONOUNCEMENTS	NOTE 12 — RECENT ACCOUNTING PRONOUNCEMENTS The Company reviews new accounting standards as issued. Although some of the accounting standards issued or effective in the current fiscal year may be applicable to it, the Company believes that none of the new standards have a significant impact on its condensed consolidated financial statements, except as discussed below. The Company is currently evaluating the impact of the new standards on its condensed consolidated financial statements. In May 2014, the Financial Accounting Standards Board issued ASU 2014 ‑09, Revenue from Contracts with Customers, which amends the guidance in former ASC Topic 605, Revenue Recognition , and provides a single, comprehensive revenue recognition model for all contracts with customers. This standard contains principles that an entity will apply to determine the measurement of revenue and timing of when it is recognized. The entity will recognize revenue to reflect the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. This pronouncement is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, and early adoption is not permitted. The Company will adopt the provisions of ASU 2014 ‑09 for the fiscal year beginning January 1, 2018, and is currently evaluating the impact on its condensed consolidated financial statements.

SEGMENT REPORTING

SEGMENT REPORTING	6 Months Ended
	Jun. 30, 2015
SEGMENT REPORTING
SEGMENT REPORTING	NOTE 13 — SEGMENT REPORTING The Company is organized into reporting segments based on the nature of the products and services offered and business activities from which it earns revenues and incurs expenses for which discrete financial information is available and regularly reviewed by the Company’s chief operating decision maker. The Company’s segments and their product and service offerings are summarized below: Towers and Weldments The Company manufactures towers for wind turbines, specifically the large and heavier wind towers that are designed for multiple megawatt (“MW”) wind turbines. Production facilities, located in Manitowoc, Wisconsin and Abilene, Texas, are situated in close proximity to the primary U.S. domestic wind energy and equipment manufacturing hubs. The two facilities have a combined annual tower production capacity of up to approximately 500 towers, sufficient to support turbines generating more than 1,000 MW of power. This product segment also encompasses the manufacture of specialty weldments for mining and other industrial customers. Gearing The Company engineers, builds and remanufactures precision gears and gearing systems for oil and gas, wind, mining, steel and other industrial applications. The Company uses an integrated manufacturing process, which includes machining and finishing processes in Cicero, Illinois, and heat treatment in Neville Island, Pennsylvania. Services The Company offers a comprehensive range of services, primarily to wind farm developers and operators. The Company specializes in non - routine maintenance services for wind turbines. The Company is increasingly focusing its efforts on the identification and/or development of product and service offerings which will improve the reliability and efficiency of wind turbines, and therefore enhance the economic benefits to its customers. The Company provides wind services across the U.S., with primary service locations in South Dakota and Texas. Previously, t he Company operated drivetrain service centers in both of these locations, focused on servicing the growing installed base of MW wind turbines as they come off warranty and, to a limited extent, industrial gearboxes requiring precision repair and testing. The Company has recently consolidated the two service centers into the drivetrain service center in Abilene, Texas (the “Abilene Gearbox Facility”) in order to reduce overhead costs. Corporate and Eliminations “Corporate” includes the assets and selling, general and administrative expenses of the Company’s corporate office. “Eliminations” comprises adjustments to reconcile segment results to consolidated results. Summary financial information by reportable segment for the three and six months ended June 30, 2015 and 2014 is as follows: Towers and Weldments Gearing Services Corporate Eliminations Consolidated For the Three Months Ended June 30, 2015 Revenues from external customers $ $ $ $ — $ — $ Intersegment revenues (1) — — Operating profit (loss) Depreciation and amortization — Capital expenditures — Towers and Weldments Gearing Services Corporate Eliminations Consolidated For the Three Months Ended June 30, 2014 Revenues from external customers $ $ $ $ — $ — $ Intersegment revenues (1) — — Operating profit (loss) Depreciation and amortization — Capital expenditures — Towers and Weldments Gearing Services Corporate Eliminations Consolidated For the Six Months Ended June 30, 2015 Revenues from external customers $ $ $ $ — $ — $ Intersegment revenues (2) — — Operating profit (loss) Depreciation and amortization — Capital expenditures — Towers and Weldments Gearing Services Corporate Eliminations Consolidated For the Six Months Ended June 30, 2014 Revenues from external customers $ $ $ $ — $ — $ Intersegment revenues (2) — — Operating profit (loss) Depreciation and amortization — Capital expenditures — Total Assets as of June 30, December 31, Segments: 2015 2014 Towers and Weldments $ $ Gearing Services Assets held for sale Corporate Eliminations $ $ (1) Intersegment revenues primarily consist of sales from Gearing to Services. Sales from Gearing to Services totaled $398 and $285 for the three months ended June 30, 2015 and 2014, respectively. (2) Intersegment revenues primarily consist of sales from Gearing to Services. Sales from Gearing to Services totaled $574 and $784 for the six months ended June 30, 2015 and 2014, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2015
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 14 — COMMITMENTS AND CONTINGENCIES Environmental Compliance and Remediation Liabilities The Company’s operations and products are subject to a variety of environmental laws and regulations in the jurisdictions in which the Company operates and sells products governing, among other things, air emissions, wastewater discharges, the use, handling and disposal of hazardous materials, soil and groundwater contamination, employee health and safety, and product content, performance and packaging. Also, certain environmental laws can impose the entire cost or a portion of the cost of investigating and cleaning up a contaminated site, regardless of fault, upon any one or more of a number of parties, including the current or previous owners or operators of the site. These environmental laws also impose liability on any person who arranges for the disposal or treatment of hazardous substances at a contaminated site. Third parties may also make claims against owners or operators of sites and users of disposal sites for personal injuries and property damage associated with releases of hazardous substances from those sites. In connection with the Company’s restructuring initiatives, during the third quarter of 2012, the Company identified a liability associated with the planned sale of one of Brad Foote’s facilities located in Cicero, Illinois (the “Cicero Avenue Facility”). The liability is associated with environmental remediation costs that were identified while preparing the site for sale. During 2013, the Company applied for and was accepted into the Illinois Environmental Protection Agency (“IEPA”) voluntary site remediation program. In the first quarter of 2014, the Company completed a comprehensive review of remedial options for the Cicero Avenue Facility and selected a preferred remediation technology. As part of the voluntary site remediation program, the Company submitted a plan to the IEPA for approval to conduct a pilot study to test the effectiveness of the selected remediation technology. On July 23, 2014, the Company received comments from the IEPA on the proposed site remediation plan. The Company has provided additional information to the IEPA in response to those questions, but no change to the remediation plan or the financial reserve is needed at this time. The Company will continue to reevaluate its reserve balance associated with this matter as it gathers additional information. As of June 30, 2015, the accrual balance associated with this matter totaled $510 . Warranty Liability The Company provides warranty terms that range from one to five years for various products and services supplied by the Company. In certain contracts, the Company has recourse provisions for items that would enable recovery from third parties for amounts paid to customers under warranty provisions. As of June 30, 2015 and 2014, estimated product warranty liability was $728 and $458 , respectively, and is recorded within accrued liabilities in the Company’s condensed consolidated balance sheets. The changes in the carrying amount of the Company’s total product warranty liability for the six months ended June 30, 2015 and 2014 were as follows: For the Six Months Ended June 30, 2015 2014 Balance, beginning of period $ $ Addition to (reduction of) warranty reserve Warranty claims Balance, end of period $ $ Allowance for Doubtful Accounts Based upon past experience and judgment, the Company establishes an allowance for doubtful accounts with respect to accounts receivable. The Company’s standard allowance estimation methodology considers a number of factors that, based on its collections experience, the Company believes will have an impact on its credit risk and the collectability of its accounts receivable. These factors include individual customer circumstances, history with the Company, the length of the time period during which the account receivable has been past due and other relevant criteria. The Company monitors its collections and write-off experience to assess whether or not adjustments to its allowance estimates are necessary. Changes in trends in any of the factors that the Company believes may impact the collectability of its accounts receivable, as noted above, or modifications to its credit standards, collection practices and other related policies may impact the Company’s allowance for doubtful accounts and its financial results. The activity in the accounts receivable allowance liability for the six months ended June 30, 2015 and 2014 consisted of the following: For the Six Months Ended June 30, 2015 2014 Balance at beginning of period $ $ Bad debt expense Write-offs Balance at end of period $ $ Collateral In select instances, the Company has pledged specific inventory and machinery and equipment assets to serve as collateral on related payable or financing obligations. Liquidated Damages In certain customer contracts, the Company has agreed to pay liquidated damages in the event of qualifying delivery or production delays. These damages are typically limited to a specific percentage of the value of the product in question and/or dependent on actual losses sustained by the customer. The Company does not believe that this potential exposure will have a material adverse effect on the Company’s consolidated financial position or results of operations. There was no reserve for liquidated damages as of June 30, 2015. Workers’ Compensation Reserves At the beginning of the third quarter of 2013, the Company began to self-insure for its workers’ compensation liabilities, including reserves for self-retained losses. Historical loss experience combined with actuarial evaluation methods and the application of risk transfer programs are used to determine required workers’ compensation reserves. The Company takes into account claims incurred but not reported when determining its workers’ compensation reserves. Although the ultimate outcome of these matters may exceed the amounts recorded and additional losses may be incurred, the Company does not believe that any additional potential exposure for such liabilities will have a material adverse effect on the Company’s consolidated financial posi tion or results of operations. As of June 30, 2015, the Company had $1,120 accrued for self-insured workers’ compensation liabilities. Other As of December 31, 2014, approximately 15% of the Company’s employees were covered by two collective bargaining agreements with local unions at Brad Foote’s Cicero, Illinois and Neville Island, Pennsylvania locations. The current collective bargaining agreement with the Cicero union is expected to remain in effect through February 2018. The current collective bargaining agreement with the Neville Island union is expected to remain in effect through October 2017. See Note 15, “New Markets Tax Credit Transaction” of these consolidated financial statements for a discussion of a strategic financing transaction (the “NMTC Transaction”) relating to the Abilene Gearbox Facility, which is focused on servicing the growing installed base of MW wind turbines as they come off warranty and, to a limited extent, industrial gearboxes requiring precision repair and testing. Pursuant to the NMTC Transaction, the gross loan and investment in the Abilene Gearbox Facility of $10,000 is expected to generate $3,900 in tax credits over a period of seven years, which the NMTC Transaction makes available to Capital One, National Association (“Capital One”). The Abilene Gearbox Facility must operate and be in compliance with the terms and conditions of the NMTC Transaction during the seven -y ear compliance period, or the Company may be liable for the recapture of $3,900 in tax credits to which Capital One is otherwise entitled. The Company does not anticipate any credit recaptures will be required in connection with the NMTC Transaction.

NEW MARKETS TAX CREDIT TRANSACT

NEW MARKETS TAX CREDIT TRANSACTION	6 Months Ended
	Jun. 30, 2015
NEW MARKETS TAX CREDIT TRANSACTION
NEW MARKETS TAX CREDIT TRANSACTION	NOTE 15 — NEW MARKETS TAX CREDIT TRANSACTION On July 20, 2011, the Company executed the NMTC Transaction involving the following third parties: AMCREF Fund VII, LLC (“AMCREF”), a registered community development entity; COCRF Investor VIII, LLC (“COCRF”); and Capital One. The NMTC Transaction allows the Company to receive below market interest rate funds through the federal New Markets Tax Credit (“NMTC”) program. The Company received $2,280 in proceeds via the NMTC Transaction. The NMTC Transaction qualifies under the NMTC program and included a gross loan from AMCREF to Broadwind Services in the principal amount of $10,000 , with a term of fifteen years and interest payable at the rate of 1.4% per annum, largely offset by a gross loan in the principal amount of $7,720 from the Company to COCRF, with a term of fifteen years and interest payable at the rate of 2.5% per annum. The NMTC regulations permit taxpayers to claim credits against their federal income taxes for up to 39% of qualified investments in the equity of community development entities. The NMTC Transaction could generate $3,900 in tax credits, which the Company has made available under the structure by passing them through to Capital One. The proceeds have been applied to the Company’s investment in the Abilene Gearbox Facility assets and operating costs, as permitted under the NMTC program. The Abilene Gearbox Facility must operate and be in compliance with various regulations and restrictions through September 2018, the end of the seven -y ear compliance period, to comply with the terms of the NMTC Transaction, or the Company may be liable under its indemnification agreement with Capital One for the recapture of tax credits. In the event the Company does not comply with these regulations and restrictions, the NMTC program tax credits may be subject to 100% recapture for a period of seven years as provided in the IRC. The Company does not anticipate that any tax credit recapture events will occur or that it will be required to make any payments to Capital One under the indemnification agreement. The Capital One contribution, including a loan origination payment of $320 , has been included as other assets in the Company’s condensed consolidated balance sheet as of June 30, 2015. The NMTC Transaction includes a put/call provision whereby the Company may be obligated or entitled to repurchase Capital One’s interest in the third quarter of 2018. Capital One may exercise an option to put its investment and receive $130 from the Company at that time. If Capital One does not exercise its put option, the Company can exercise a call option at the then fair market value of the call. The Company expects that Capital One will exercise the put option at the end of the tax credit recapture period. The Capital One contribution other than the amount allocated to the put obligation will be recognized as income only after the put/call is exercised and when Capital One has no ongoing interest. However, there is no legal obligation for Capital One to exercise the put, and the Company has attributed only an insignificant value to the put option included in this transaction structure. The Company has determined that two pass ‑through financing entities created under this transaction structure are variable interest entities (“VIEs”). The ongoing activities of the VIEs—collecting and remitting interest and fees and complying with NMTC program requirements—were considered in the initial design of the NMTC Transaction and are not expected to significantly affect economic performance throughout the life of the VIEs. In making this determination, management also considered the contractual arrangements that obligate the Company to deliver tax benefits and provide various other guarantees under the transaction structure, Capital One’s lack of a material interest in the underlying economics of the project, and the fact that the Company is obligated to absorb losses of the VIEs. The Company has concluded that it is required to consolidate the VIEs because the Company has both (i) the power to direct those matters that most significantly impact the activities of each VIE, and (ii) the obligation to absorb losses or the right to receive benefits of each VIE. The $262 of issue costs paid to third parties in connection with the NMTC Transaction are recorded as prepaid expenses, and are being amortized over the expected seven year term of the NMTC arrangement. Capital One’s net contribution of $2,600 is included in Long Term Debt, Net of Current Maturities in the condensed consolidated balance sheet as of June 30, 2015. Incremental costs to maintain the transaction structure during the compliance period will be recognized as they are incurred.

RESTRUCTURING

RESTRUCTURING	6 Months Ended
	Jun. 30, 2015
RESTRUCTURING
RESTRUCTURING	NOTE 16 — RESTRUCTURING The Company’s total net restructuring charges incurred to date are detailed below: 2011 2012 2013 2014 Total Actual Actual Actual Actual Incurred Restructuring charges: Capital expenditures $ $ $ $ $ Gain on sale of Brandon, SD Facility — — — Accelerated depreciation — — Severance — — Impairment charges — — — Moving and other exit-related costs Total $ $ $ $ $ During the third quarter of 2011, the Company conducted a review of its business strategies and product plans based on the business and industry outlook, and concluded that its manufacturing footprint and fixed cost base were excessive for its medium-term needs. A plan was developed to reduce the Company’s facility footprint by approximately 40% through the sale and/or closure of facilities comprising a total of approximately 600,000 square feet. To date, the Company has reduced its leased presence at six facilities and achieved a reduction of approximately 400,000 square feet. Two remaining properties, the Clintonville Facility and the Cicero Avenue Facility , have been vacated and are being marketed for sale. The Company believes its remaining locations will be sufficient to support its current business activities, while allowing for growth for the next several years. In the third quarter of 2012, the Company identified a $352 liability associated with the planned sale of the Cicero Avenue Facility. The Company further adjusted the liability in the fourth quarter of 2013 by recording an additional $258 charge. The liability is associated with environmental remediation costs that were originally identified while preparing the site for sale. The expenses associated with this liability have been recorded as restructuring charges, and as of June 30, 2015, the accrual balance remaining is $510 . As of December 31, 2014, the Company had completed the expenditures relating to its restructuring plan. The Company incurred total costs of approximately $13,700 , net of a $3,585 gain on the sale of an idle tower plant in Brandon, South Dakota. The Company’s restructuring charges generally include costs to close or exit facilities, costs to move equipment, the related costs of building infrastructure for moved equipment and employee related costs. Of the total restructuring costs incurred, a total of approximately $4,800 consists of non ‑cash charges. During 2014, the Company incurred $2,153 of restructuring charges, including $674 to complete the capital investment to consolidate its gearing facilities in Cicero, Illinois and $1,479 of moving and other exit-related costs associated with the two remaining facilities that are held for sale.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	6 Months Ended
	Jun. 30, 2015
SUBSEQUENT EVENT
SUBSEQUENT EVENT	NOTE 17 — SUBSEQUENT EVENTS O n July 23, 2015 , the Board authorized and directed management to evaluate potential strategic alternatives with respect to the Company’s Services segment.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2015
EARNINGS PER SHARE
Reconciliation of basic and diluted earnings per share	Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Basic earnings per share calculation: Net income (loss) $ $ $ $ Weighted average number of common shares outstanding Basic net income (loss) per share $ $ $ $ Diluted earnings per share calculation: Net income (loss) $ $ $ $ Weighted average number of common shares outstanding Common stock equivalents: Stock options and non-vested stock awards - Weighted average number of common shares outstanding Diluted net income (loss) per share $ $ $ $

CASH AND CASH EQUIVALENTS AND25

CASH AND CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS (Tables)	6 Months Ended
	Jun. 30, 2015
CASH AND CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
Summary of components of cash and cash equivalents and short-term investments	June 30, December 31, 2015 2014 Cash and cash equivalents: Cash $ $ Money market funds — Municipal bonds — Total cash and cash equivalents Short-term investments (available-for-sale): Municipal bonds — Total cash and cash equivalents and short-term investments $ $

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2015
INVENTORIES
Schedule of the components of inventories from operations	June 30, December 31, 2015 2014 Raw materials $ $ Work-in-process Finished goods Less: Reserve for excess and obsolete inventory Net inventories $ $

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2015
INTANGIBLE ASSETS
Schedule of the cost basis, accumulated amortization and net book value of intangible assets	June 30, 2015 December 31, 2014 Weighted Weighted Net Average Net Average Cost Accumulated Book Amortization Cost Accumulated Book Amortization Basis Amortization Value Period Basis Amortization Value Period Intangible assets: Customer relationships $ $ $ $ $ $ Trade names Intangible assets $ $ $ $ $ $
Schedule of estimated future amortization expense	2015 $ 2016 2017 2018 2019 2020 and thereafter Total $

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2015
ACCRUED LIABILITIES
Schedule of accrued liabilities	June 30, December 31, 2015 2014 Accrued payroll and benefits $ $ Accrued property taxes Income taxes payable Accrued professional fees Accrued warranty liability Accrued regulatory settlement Accrued environmental reserve Accrued self-insurance reserve Accrued other Total accrued liabilities $ $

DEBT AND CREDIT AGREEMENTS (Tab

DEBT AND CREDIT AGREEMENTS (Tables)	6 Months Ended
	Jun. 30, 2015
DEBT AND CREDIT AGREEMENTS
Schedule of outstanding debt balances	June 30, December 31, 2015 2014 Line of credit $ $ — Term loans and notes payable Less: Current portion Long-term debt, net of current maturities $ $

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2015
FAIR VALUE MEASUREMENTS
Schedule of the fair values of the Company's financial assets	June 30, 2015 Level 1 Level 2 Level 3 Total Assets measured on a nonrecurring basis: Gearing equipment $ — $ — $ $ Clintonville, WI facility — — Gearing Cicero Ave. facility — — Total assets at fair value $ — $ — $ $ December 31, 2014 Level 1 Level 2 Level 3 Total Assets measured on a recurring basis: Municipal bonds and money market funds $ — $ $ — $ Assets measured on a nonrecurring basis: Clintonville, WI facility — — Gearing Cicero Ave. facility — — Total assets at fair value $ — $ $ $

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2015
SHARE-BASED COMPENSATION
Schedule of stock option activity	Weighted Average Options Exercise Price Outstanding as of December 31, 2014 $ Granted — — Exercised — — Forfeited — — Expired — — Outstanding as of June 30, 2015 $ Exercisable as of June 30, 2015 $
Schedule of RSU activity	Weighted Average Number of Grant-Date Fair Value Shares Per Share Outstanding as of December 31, 2014 $ Granted $ Vested $ Forfeited $ Outstanding as of June 30, 2015 $
Schedule of share-based compensation expense, net of taxes withheld	Six Months Ended June 30, 2015 2014 Share-based compensation expense: Cost of sales $ $ Selling, general and administrative Income tax benefit (1) — — Net effect of share-based compensation expense on net loss $ $ Reduction in earnings per share: Basic earnings per share $ $ Diluted earnings per share $ $ (1) Income tax benefit is not illustrated because the Company is currently in a full tax valuation allowance position and an actual income tax benefit was not realized for the six months ended June 30, 2015 and 2014. The result of the loss situation creates a timing difference, resulting in a deferred tax asset, which is fully reserved for in the Company’s valuation allowance.

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	6 Months Ended
	Jun. 30, 2015
SEGMENT REPORTING
Schedule of financial information by reportable segment	Towers and Weldments Gearing Services Corporate Eliminations Consolidated For the Three Months Ended June 30, 2015 Revenues from external customers $ $ $ $ — $ — $ Intersegment revenues (1) — — Operating profit (loss) Depreciation and amortization — Capital expenditures — Towers and Weldments Gearing Services Corporate Eliminations Consolidated For the Three Months Ended June 30, 2014 Revenues from external customers $ $ $ $ — $ — $ Intersegment revenues (1) — — Operating profit (loss) Depreciation and amortization — Capital expenditures — Towers and Weldments Gearing Services Corporate Eliminations Consolidated For the Six Months Ended June 30, 2015 Revenues from external customers $ $ $ $ — $ — $ Intersegment revenues (2) — — Operating profit (loss) Depreciation and amortization — Capital expenditures — Towers and Weldments Gearing Services Corporate Eliminations Consolidated For the Six Months Ended June 30, 2014 Revenues from external customers $ $ $ $ — $ — $ Intersegment revenues (2) — — Operating profit (loss) Depreciation and amortization — Capital expenditures — Total Assets as of June 30, December 31, Segments: 2015 2014 Towers and Weldments $ $ Gearing Services Assets held for sale Corporate Eliminations $ $ (1) Intersegment revenues primarily consist of sales from Gearing to Services. Sales from Gearing to Services totaled $398 and $285 for the three months ended June 30, 2015 and 2014, respectively. (2) Intersegment revenues primarily consist of sales from Gearing to Services. Sales from Gearing to Services totaled $574 and $784 for the six months ended June 30, 2015 and 2014, respectively.

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2015
COMMITMENTS AND CONTINGENCIES
Schedule of changes in the carrying amount of the total product warranty liability	For the Six Months Ended June 30, 2015 2014 Balance, beginning of period $ $ Addition to (reduction of) warranty reserve Warranty claims Balance, end of period $ $
Schedule of activity in the A/R allowance from continuing operations	For the Six Months Ended June 30, 2015 2014 Balance at beginning of period $ $ Bad debt expense Write-offs Balance at end of period $ $

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	6 Months Ended
	Jun. 30, 2015
RESTRUCTURING
Schedule of total net restructuring charges	2011 2012 2013 2014 Total Actual Actual Actual Actual Incurred Restructuring charges: Capital expenditures $ $ $ $ $ Gain on sale of Brandon, SD Facility — — — Accelerated depreciation — — Severance — — Impairment charges — — — Moving and other exit-related costs Total $ $ $ $ $

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) - Long-term Debt, Type [Domain] - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Jun. 29, 2015	Aug. 23, 2012
Description of Business
Revenue as a percentage of sales associated with new wind turbine installations	80.00%
Liquidity
Cash and cash equivalents and short-term investments	$ 509		$ 20,173
Increase (decrease) in Cash and cash equivalents and Short-term investments	19,664
Long-term Line of Credit	527
Increase (Decrease) in Inventories	8,231	$ (849)
Total debt and capital lease obligations	8,944
Obligation to make principal payments on outstanding debt during the next twelve months	1,306
RESTRUCTURING
Restructuring Charges	13,669		$ 2,153	$ 5,550	$ 5,092	$ 874
Tower and Weldments
Liquidity
Increase (Decrease) in Inventories	8,485
Credit facility
Description of Business
Maximum borrowing capacity							$ 15,000	$ 20,000
Maximum borrowing capacity of the face value of eligible A/R (as a percent)								85.00%
Maximum percentage of book value of inventories that may be financed								50.00%
Liquidity
Long-term Line of Credit	527
Current borrowing capacity	$ 11,973
Term Loan
Liquidity
Principal amount							$ 5,000

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Basic earnings per share calculation:
Net (loss) income	$ 1,615	$ 1,860	$ (3,400)	$ 817	$ (6,168)
Weighted average number of common shares outstanding	14,662,934	14,732,423	14,630,308	14,696,137
Basic net income (loss) per share	$ 0.11	$ 0.13	$ (0.23)	$ 0.06
Diluted earnings per share calculation:
Net income (loss)	$ 1,615	$ 1,860	$ (3,400)	$ 817
Weighted average number of common shares outstanding	14,662,934	14,732,423	14,630,308	14,696,137
Common stock equivalents:
Stock options and non-vested stock awards	118,020	448,076		482,512
Weighted average number of common shares outstanding	14,780,954	15,180,499	14,630,308	15,178,649
Diluted net income (loss) per share	$ 0.11	$ 0.12	$ (0.23)	$ 0.05

CASH AND CASH EQUIVALENTS AND37

CASH AND CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Cash and cash equivalents and short-term investments
Total cash and cash equivalents	$ 509	$ 12,149	$ 10,799	$ 24,936
Short-term investments (available-for-sale)	0	8,024
Total cash and cash equivalents and short-term investments	509	20,173
Cash
Cash and cash equivalents and short-term investments
Total cash and cash equivalents	$ 509	8,744
Money market funds
Cash and cash equivalents and short-term investments
Total cash and cash equivalents		877
Municipal bonds
Cash and cash equivalents and short-term investments
Total cash and cash equivalents		2,528
Short-term investments (available-for-sale)		$ 8,024

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Raw materials	$ 28,837		$ 21,385
Work-in-process	11,907		9,565
Finished goods	5,993		6,769
Gross inventories	46,737		37,719
Less: Inventory Reserve	(3,585)		(2,798)
Net inventories	43,152		$ 34,921
Increase in inventories	8,231	$ (849)
Towers and Weldments Segment
Increase in inventories	$ 8,485

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
INTANGIBLE ASSETS
Weighted Average Amortization Period			15 years 9 months 18 days		15 years 9 months 18 days
Impairment of assets			$ 0
Cost Basis	$ 11,978		11,978		$ 11,978
Accumulated Amortization	(6,741)		(6,741)		(6,519)
Net Book Value	5,237		5,237		5,459
Amortization expense	111	$ 111	222	$ 222
Estimated future amortization expense
2,015	222		222
2,016	444		444
2,017	444		444
2,018	444		444
2,019	444		444
2020 and thereafter	3,239		3,239
Net Book Value	5,237		$ 5,237		$ 5,459
Minimum
INTANGIBLE ASSETS
Weighted Average Amortization Period			10 years
Maximum
INTANGIBLE ASSETS
Weighted Average Amortization Period			20 years
Customer relationships
INTANGIBLE ASSETS
Weighted Average Amortization Period			7 years 2 months 12 days		7 years 2 months 12 days
Cost Basis	3,979		$ 3,979		$ 3,979
Accumulated Amortization	(3,661)		(3,661)		(3,639)
Net Book Value	318		318		340
Estimated future amortization expense
Net Book Value	318		$ 318		$ 340
Trade names
INTANGIBLE ASSETS
Weighted Average Amortization Period			20 years		20 years
Cost Basis	7,999		$ 7,999		$ 7,999
Accumulated Amortization	(3,080)		(3,080)		(2,880)
Net Book Value	4,919		4,919		5,119
Estimated future amortization expense
Net Book Value	$ 4,919		$ 4,919		$ 5,119

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2013	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
ACCRUED LIABILITIES
Accrued payroll and benefits		$ 4,160	$ 3,316
Accrued property taxes		433	86
Income taxes payable		196	198
Accrued professional fees		111	126
Accrued warranty liability	$ 457	728	1,198	$ 458
Accrued regulatory settlement		756	2,066
Accrued environmental reserve		510	513
Accrued self-insurance reserve		1,120	1,411
Accrued other		247	639
Total accrued liabilities		8,261	$ 9,553
Current portion of environmental settlement recorded	$ 500
Estimated SEC Inquiry settlement recorded		$ 256

DEBT AND CREDIT AGREEMENTS (Det

DEBT AND CREDIT AGREEMENTS (Details) - USD ($) $ in Thousands	Aug. 23, 2012	Jun. 30, 2015	Jun. 29, 2015	Dec. 31, 2014
Credit Facilities
Line of credit		$ 527
Less-Current portion		(1,306)		$ (268)
Long-term debt, net of current maturities		6,886		2,650
New Markets Tax Credit Transaction
Credit Facilities
Long-term debt, net of current maturities		2,600
Credit facility
Credit Facilities
Line of credit		$ 527
Debt Instrument additional term		1 year
Maximum borrowing capacity of the face value of eligible A/R (as a percent)	85.00%
Maximum percentage of book value of inventories that may be financed	50.00%
Variable rate basis	one-month London Interbank Offered Rate
Interest rate margin (as a percent)	3.25%
Annual unused line fee (as a percent)	0.50%
Outstanding indebtedness under the Credit Facility		$ 527
Current borrowing capacity		$ 11,973
Interest rate (as a percent)		4.25%
Term Loan
Credit Facilities
Principal amount			$ 5,000
Term loan amortization		$ 60
Term loan balloon payment		$ 4,220
Interest rate margin (as a percent)		3.50%
Amount outstanding		$ 5,000
Term loans and notes payable
Credit Facilities
Long-term debt, gross		7,665		$ 2,918
Other term loans
Credit Facilities
Amount outstanding		$ 64

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
FAIR VALUE MEASUREMENTS
Municipal bonds and money market funds	$ 509	$ 20,173
Gearing
FAIR VALUE MEASUREMENTS
Impairment to identifiable intangible assets	0
Services
FAIR VALUE MEASUREMENTS
Impairment to identifiable intangible assets	0
Level 2
FAIR VALUE MEASUREMENTS
Total assets at fair value		11,429
Level 3
FAIR VALUE MEASUREMENTS
Total assets at fair value	2,077	1,298
Total
FAIR VALUE MEASUREMENTS
Total assets at fair value	2,077	12,727
Recurring | Level 2 | Municipal bonds and money market funds
FAIR VALUE MEASUREMENTS
Municipal bonds and money market funds		11,429
Recurring | Total | Municipal bonds and money market funds
FAIR VALUE MEASUREMENTS
Municipal bonds and money market funds		11,429
Nonrecurring | Level 3 | Gearing
FAIR VALUE MEASUREMENTS
Property plant and equipment at fair value	817
Nonrecurring | Level 3 | Clintonville Facility
FAIR VALUE MEASUREMENTS
Property plant and equipment at fair value	700	738
Nonrecurring | Level 3 | Cicero Avenue | Gearing
FAIR VALUE MEASUREMENTS
Property plant and equipment at fair value	560	560
Nonrecurring | Total | Gearing
FAIR VALUE MEASUREMENTS
Property plant and equipment at fair value	817
Nonrecurring | Total | Clintonville Facility
FAIR VALUE MEASUREMENTS
Property plant and equipment at fair value	700	738
Nonrecurring | Total | Cicero Avenue | Gearing
FAIR VALUE MEASUREMENTS
Property plant and equipment at fair value	$ 560	$ 560

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
INCOME TAXES
Deferred income taxes due, net	$ 0		$ 0
(Benefit) provision for income taxes	(62)	$ 41	15	$ 65
Operating Loss Carryforwards					$ 173,823
Expiration of the statute of limitations
Income Taxes
Decrease in unrecognized tax benefits as a result of the expiration of the applicable statutes of limitations within the next twelve months	$ (63)		$ (63)

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) $ / shares in Units, $ in Thousands	Feb. 13, 2013item$ / sharesshares	Feb. 13, 2013$ / sharesshares	Feb. 12, 2013	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)
Rights Plan
Unrecognized Tax Benefits				$ 185	$ 199
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued				$ 117	$ 118
Series A Junior Participating Preferred Stock
Rights Plan
Preservation period of tax assets				3 years
Number of rights for each outstanding share of common stock | item	1
Number of preferred share purchase rights for each outstanding share of the company's common stock | shares	0.001	0.001
Exercise price (in dollars per right) | $ / shares	$ 14	$ 14
Series A Junior Participating Preferred Stock | Minimum
Rights Plan
Threshold percentage of beneficial ownership for significant dilution of ownership interest		4.90%
Current beneficial ownership percentage that will not trigger the preferred share purchase rights unless they acquire additional shares			4.90%
Series A Junior Participating Preferred Stock | Maximum
Rights Plan
Beneficial ownership percentage of any person or group, together with its affiliates and associates	4.90%

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - $ / shares	6 Months Ended
	Jun. 30, 2015
2007 EIP
SHARE-BASED COMPENSATION
Number of shares of common stock reserved for grants	691,051
Common stock issued under share-based compensation plan	247,714
2012 EIP
SHARE-BASED COMPENSATION
Number of shares of common stock reserved for grants	1,200,000
Common stock issued under share-based compensation plan	419,915
2015 EIP
SHARE-BASED COMPENSATION
Number of shares of common stock reserved for grants	1,100,000
Common stock issued under share-based compensation plan	0
Stock Options
SHARE-BASED COMPENSATION
Expiration term	10 years
Summary of the stock option activity
Outstanding at the beginning of the period (in shares)	158,718
Granted (in shares)	0
Outstanding at the end of the period (in shares)	158,718
Exercisable (in shares)	133,483
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$ 16.64
Outstanding at the end of the period (in dollars per share)	16.64
Exercisable (in dollars per share)	$ 19.15
Stock Options | 2007 EIP
SHARE-BASED COMPENSATION
Number of shares reserved	57,783
Stock Options | 2012 EIP
SHARE-BASED COMPENSATION
Number of shares reserved	100,935
Stock Options | Minimum
SHARE-BASED COMPENSATION
Vesting term	1 year
Stock Options | Maximum
SHARE-BASED COMPENSATION
Vesting term	5 years
Restricted stock unit (RSU) | 2007 EIP
SHARE-BASED COMPENSATION
Number of shares reserved	8,683
Restricted stock unit (RSU) | 2012 EIP
SHARE-BASED COMPENSATION
Number of shares reserved	449,613
Restricted stock unit (RSU) | 2015 EIP
SHARE-BASED COMPENSATION
Number of shares reserved	47,216
Restricted stock unit (RSU) | Minimum
SHARE-BASED COMPENSATION
Vesting term	1 year
Restricted stock unit (RSU) | Maximum
SHARE-BASED COMPENSATION
Vesting term	5 years

SHARE-BASED COMPENSATION (Det46

SHARE-BASED COMPENSATION (Details 2) - $ / shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Weighted Average Grant-Date Fair Value Per RSU
Forfeiture rate (as percent)	25.00%	25.00%
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	0
Restricted stock unit (RSU)
Summary of the restricted stock unit activity
Outstanding at the beginning of the period (in shares)	515,038
Granted (in shares)	188,420
Vested (in shares)	(155,738)
Forfeited (in shares)	(42,208)
Outstanding at the end of the period (in shares)	505,512
Weighted Average Grant-Date Fair Value Per RSU
Outstanding at the beginning of the period (in dollars per share)	$ 5.78
Granted (in dollars per share)	5.19
Vested (in dollars per share)	5.50
Forfeited (in dollars per share)	6.48
Outstanding at the end of the period (in dollars per share)	$ 5.58

SHARE-BASED COMPENSATION (Det47

SHARE-BASED COMPENSATION (Details 3) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Summary of share-based compensation expense
Net effect of share-based compensation expense on net loss	$ 607	$ 330
Reduction in earnings per share:
Basic earnings per share (in dollars per share)	$ 0.04	$ 0.02
Diluted earnings per share (in dollars per share)	$ 0.04	$ 0.02
Pre-tax compensation expense for all unvested share-based awards	$ 1,947
Cost of sales
Summary of share-based compensation expense
Share-based compensation expense	62	$ 109
Selling, general and administrative
Summary of share-based compensation expense
Share-based compensation expense	$ 545	$ 221

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)facility	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)facilityitemMW	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)
SEGMENT REPORTING
Revenues from external customers	$ 65,225	$ 68,381	$ 116,276	$ 127,181
Operating profit (loss)	1,861	2,101	(3,117)	1,106
Depreciation and amortization	2,518	3,150	5,097	6,264
Capital expenditures	764	2,342	1,604	4,542
Total Assets	$ 132,061		$ 132,061		$ 146,617
Towers and Weldments Segment
SEGMENT REPORTING
Number of facilities | facility	2		2
Revenues from external customers	$ 54,994	52,794	$ 95,792	100,928
Intersegment revenues	37	97	268	257
Operating profit (loss)	7,155	8,561	8,290	14,172
Depreciation and amortization	915	1,007	1,829	1,991
Capital expenditures	276	1,878	$ 787	3,111
Towers and Weldments Segment | Maximum
SEGMENT REPORTING
Annual tower production capacity (in towers) | item			500
Towers and Weldments Segment | Minimum
SEGMENT REPORTING
Power generating capacity of turbines that towers produced annually can support (in megawatts) | MW			1,000
Gearing
SEGMENT REPORTING
Revenues from external customers	7,568	12,139	$ 15,999	20,414
Intersegment revenues	398	285	574	784
Operating profit (loss)	(1,524)	(1,800)	(2,736)	(4,765)
Depreciation and amortization	1,244	1,805	2,541	3,606
Capital expenditures	381	342	454	976
Services
SEGMENT REPORTING
Revenues from external customers	2,663	3,448	4,485	5,839
Intersegment revenues	23	34	139	81
Operating profit (loss)	(1,764)	(1,319)	(4,388)	(2,658)
Depreciation and amortization	315	306	637	619
Capital expenditures	105	95	276	125
Corporate
SEGMENT REPORTING
Operating profit (loss)	(2,007)	(3,386)	(4,291)	(5,638)
Depreciation and amortization	44	32	90	48
Capital expenditures	2	27	87	330
Eliminations
SEGMENT REPORTING
Intersegment revenues	(458)	(416)	(981)	(1,122)
Operating profit (loss)	1	$ 45	8	$ (5)
Total Assets	(275,974)		(275,974)		(263,688)
Operating segments
SEGMENT REPORTING
Total Assets	132,061		132,061		146,617
Operating segments | Towers and Weldments Segment
SEGMENT REPORTING
Total Assets	59,138		59,138		50,691
Operating segments | Gearing
SEGMENT REPORTING
Total Assets	45,325		45,325		50,238
Operating segments | Services
SEGMENT REPORTING
Total Assets	9,259		9,259		10,884
Operating segments | Assets held for sale
SEGMENT REPORTING
Total Assets	1,517		1,517		738
Operating segments | Corporate
SEGMENT REPORTING
Total Assets	$ 292,796		$ 292,796		$ 297,754

COMMITMENTS AND CONTINGENCIES49

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Sep. 30, 2012
Environmental Compliance and Remediation Liabilities
Liability associated with environmental remediation costs	$ 510			$ 352
Changes in the carrying amount of the total product warranty liability
Balance at beginning of period	1,198	$ 457
Addition to (reduction of) warranty reserve	4	45
Warranty claims	(474)	(44)
Balance at end of period	728	458
Allowance for Doubtful Accounts Receivable [Roll Forward]
Balance at beginning of period	82	17
Bad debt expense	31	107
Write-offs	(17)	(13)
Balance at end of period	96	$ 111
Liquidated Damages
Reserve for liquidated damages	0
Workers' Compensation Reserves
Amount accrued for self-insured workers' compensation claims	$ 1,120		$ 1,411
Minimum
Warranty Liability
Term of warranty	1 year
Maximum
Warranty Liability
Term of warranty	5 years

COMMITMENTS AND CONTINGENCIES50

COMMITMENTS AND CONTINGENCIES (Details 2) - Dec. 31, 2014 - Total Company Employees - Coverage under collective bargaining agreements - agreement	Total
Collective bargaining agreements
Percentage of company's employees covered	15.00%
Number of agreements	2

COMMITMENTS AND CONTINGENCIES51

COMMITMENTS AND CONTINGENCIES (Details 3) - New Markets Tax Credit Transaction - USD ($)	6 Months Ended
	Jun. 30, 2015	Jul. 20, 2011
New Markets Tax Credit program
Future tax credit that can be generated	$ 3,900,000
Tax credit period	7 years
Period which facility must operate and be in compliance	7 years
Amount of tax credits for which the Company may be liable	$ 3,900,000
Broadwind Services, LLC
New Markets Tax Credit program
Gross loan from AMCREF to Broadwind Services		$ 10,000,000

NEW MARKETS TAX CREDIT TRANSA52

NEW MARKETS TAX CREDIT TRANSACTION (Details)	Jul. 20, 2011USD ($)	Jun. 30, 2015USD ($)item	Dec. 31, 2014USD ($)
New Markets Tax Credit Transaction
Net amount outstanding		$ 6,886,000	$ 2,650,000
New Markets Tax Credit Transaction
New Markets Tax Credit Transaction
Proceeds from transaction	$ 2,280,000
Gross loan in the principal amount from the Company to COCRF Investor VIII, LLC		$ 7,720,000
Receivable term		15 years
Interest rate (as a percent)		2.50%
Maximum percentage of a qualified investment available as credit against federal income taxes		39.00%
Potential tax credit that can be generated under the NMTC transaction		$ 3,900,000
Period which facility must operate and be in compliance		7 years
Percentage of recapture to which the tax credits are subject		100.00%
Loan origination payment		$ 320,000
Company's obligation if Capital One exercises its option to put its investment		$ 130,000
Number of pass-through financing entities created under the structure that are deemed variable interest entities | item		2
Issue costs paid to third parties recorded as prepaid expenses	262,000
Amortization period for prepaid expenses for the NMTC arrangement		7 years
Net amount outstanding		$ 2,600,000
Broadwind Services, LLC | New Markets Tax Credit Transaction
New Markets Tax Credit Transaction
Principal amount	$ 10,000,000
Debt term		15 years
Interest rate (as a percent)		1.40%

RESTRUCTURING (Details)

RESTRUCTURING (Details) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended				42 Months Ended
	Dec. 31, 2013USD ($)	Jun. 30, 2015USD ($)ft²item	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)	Dec. 31, 2011USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2012USD ($)
RESTRUCTURING
Restructuring Charges, Total		$ 13,669	$ 2,153	$ 5,550	$ 5,092	$ 874
Accelerated depreciation		1,717		898	819
Severance		865		435		430
Iimpairment charges		$ 2,365		2,365
Percentage of facility footprint planned to be reduced through the sale and/or closure		40.00%
Area of facilities planned to be reduced through the sale and/or closure (in square feet) | ft²		600,000
Number of facilities for which agreement has been reached to close or reduce leased presence | item		6
Area of facilities for which agreement has been reached to close or reduce leased presence | ft²		400,000
Number of remaining properties vacated and marketed for sale | item		2
Liability associated with environmental remediation costs		$ 510						$ 352
Addition in liability associated with environmental remediation costs	$ 258
Restructuring Reserve, Settled without Cash							$ 4,800
Capital Expenditures
RESTRUCTURING
Exit costs		5,627	674	2,352	2,596	5
Moving And Other Exit Related Costs
RESTRUCTURING
Exit costs		6,680	$ 1,479	3,085	$ 1,677	$ 439
Brandon Facility
RESTRUCTURING
Gain on sale of Brandon, SD Facility		$ (3,585)		$ (3,585)