Ascent Solar Announces Q1 Revenue Results – Exceeding the High End of Guidance
Business Wire Ascent Solar Apr 29, 2014 6:00 AM
THORNTON, Colo.--(BUSINESS WIRE)--

Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer and manufacturer of state-of-the-art, flexible thin-film photovoltaic modules integrated into the company’s EnerPlex TM series of consumer products, announced today preliminary revenue results for the Company’s first quarter ended March 31, 2014.

Based upon preliminary data, the Company expects to post first quarter revenue of approximately $753,000, an increase of 30% over the fourth quarter of 2013 and slightly above the high end of published guidance for the quarter. This also represents an approximately 3-fold revenue increase from third quarter of 2013. Sales of its EnerPlex™ branded consumer products increased quarter over quarter 29% to $630,000. First quarter Government R&D contract revenue was $81,000, a sequential increase of 8%. Specialty Market PV sales of $42,000 composed the balance of the revenue for the quarter.

Victor Lee, President & CEO of Ascent Solar, said, “We are particularly pleased to be able to report revenue above the high end of our guidance demonstrating to our shareholders the sustained growth trajectory of our EnerPlex brand and products. Notably, our revenue growth was achieved in what is traditionally a seasonally weaker quarter in the retail industry. At this stage, early indications are that our second quarter sequential growth rate will accelerate due to the continued acceptance of our products, and support from our growing network of retailers and distributors.”