Northern Power Systems Announces Q1 2014 Financial Results
Strong revenue and order growth; reinvesting in business expansionFirst Quarter 2014 Highlights: · Expanded quarterly revenues to $13.8 million from $1.7 million in the prior year period; revenue expansion driven by strong order fulfillment supporting demand for the Company’s distributed class turbines as well as utility class power converters. · Concluded capital raise of $22.3 million in April, supporting strategic plans for global expansion in sales of Northern Power Systems’ offerings. · Grew backlog to approximately $48 million, an increase of more than 125 percent over the