Northern Power's net loss widens y/y in Q3

Net loss at US wind turbine maker Northern Power Systems Corp (TSE:NPS) widened to USD 1.4 million (EUR 1.3m) in the third quarter of 2016 from USD 539,000 a year ago as revenues declined.

Turnover decreased to USD 12.1 million from USD 13.4 million, the company's results showed on Monday.

Northern Power ended the period with an order backlog of USD 26 million, lower than both USD 39 million a year earlier and USD 33 million at the end of the previous quarter.

The company highlighted a sequential improvement in revenue and net loss from USD 8.7 million and USD 2.5 million, respectively, in the second quarter.

In the nine-month period, net loss widened to USD 8.1 million from USD 7.2 million, while revenue fell to USD 26 million from USD 35.7 million.

After the sale in October of the company's utility wind technology to Brazilian electrical equipment maker WEG SA (BVMF:WEGE3), Northern Power is clearly focused on distributed energy applications, said president and chief operating officer Ciel Caldwell.

"Our North American strategy is developing with a focus on both wind as a generation source as well as battery energy storage solutions with and without renewable integration," Caldwell added.

(USD 1.0 = EUR 0.928)

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