Ascent Solar Technologies, Inc. (“Ascent”) (NASDAQ:ASTI), a manufacturer
of state-of-the-art, flexible thin-film photovoltaic modules, integrated
into off-grid applications and the company’s EnerPlex™ series of
consumer products, announced today the Company’s third quarter results
ended September 30, 2014.
The Company posted revenue of $1.1 million in the third quarter, the
second quarter in a row in which revenue exceeded $1 million. To this
point in Q4, the Company has shipped or has backlog scheduled to ship in
excess of $2.0 million. As a result, the Company re-affirms its full
year revenue guidance of $5 - $6 million given on March 6, 2014,
representing a projected 4-fold increase in revenue over 2013.
“We are very encouraged that our revenue continues to show rapid growth.
Since Ascent Solar began to reposition its business model in H2 2012, by
pivoting into consumer goods and specialty applications, we are
experiencing accelerated acceptance of our flagship EnerPlex products.
We expect to continue this growth trend, while maintaining our focus on
sales of products which capture the entire consumer value chain and at
prices that are a premium to other solar manufacturers,” said Victor
Lee, President and CEO of Ascent. “The clear indication that Q4 revenue
will be more than double the September quarter reinforces the viability
of the transformational business model that we embarked on in H2 2012.
As we continue to build and expand our EnerPlex distribution channels
domestically and internationally, we expect to achieve higher sales,
better economies of scale, and dramatically reduce our overall costs,
enabling meaningful improvements in product margin.”
About Ascent Solar Technologies:
Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic
modules using flexible substrate materials that can transform the way
solar power generation integrates into everyday life. Ascent Solar
modules, which were named one of TIME Magazine’s 50 best inventions for
2011, can be directly incorporated into standard building materials,
commercial transportation, automotive solutions, space applications,
consumer electronics for portable power and durable off-grid solutions.
More information can be found at http://www.ascentsolar.com.
Forward-Looking Statements:
Statements in this press release that are not statements of historical
or current fact constitute “forward-looking statements.” Such
forward-looking statements involve known and unknown risks,
uncertainties and other unknown factors that could cause the Company’s
actual operating results to be materially different from any historical
results or from any future results expressed or implied by such
forward-looking statements. In addition to statements that explicitly
describe these risks and uncertainties, readers are urged to consider
statements that contain terms such as “believes,” “belief,” “expects,”
“expect,” “intends,” “intend,” “anticipate,” “anticipates,” “plans,”
“plan” to be uncertain and forward-looking. The forward-looking
statements contained herein are also subject generally to other risks
and uncertainties that are described from time to time in the Company’s
filings with the Securities and Exchange Commission.
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