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Ascent Solar Announces Q3 2014 Results

Reiterates full year revenue guidance of $5 million to $6 million

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Ascent Solar Technologies, Inc. announced the company’s third quarter results ended Sept. 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 million to $6 million given on March 6, 2014, representing a projected four-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,” Lee added. “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.”

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