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10 July 2015

Ascent Solar announces preliminary Q2 revenue of $2.2m, up 233% on Q1

For second-quarter 2015, Ascent Solar Technologies Inc of Thornton, CO, USA - which makes lightweight, flexible copper indium gallium diselenide (CIGS) thin-film photovoltaic modules integrated into off-grid applications and its EnerPlex series of consumer products - has reported preliminary revenue of $2.2m, a threefold increase on first-quarter 2015, due to a strong shipment backlog carried over from Q1.

For first-half 2015, revenue is expected to be $2.9m, reflecting significant growth of about 60% year-on-year.

Second-half 2015 has traditionally been a stronger sales period for the firm, as well as for the consumer electronics sector overall, taking into account the holiday selling season. With shipments already lining up for the rest of the year and a stronger retail presence established, Ascent Solar reiterates its earlier revenue guidance of $10-12m for full-year 2015, approximately doubling on 2014.

"We remain extremely upbeat for the second half of the year, given the increased visibility of our EnerPlex products in a growing number of reputable retailers," says president & CEO Victor Lee. "With launches into several retailers during the first half of the year, we feel confident in confirming our previously issued fiscal-year 2015 revenue guidance," he adds. "We are also seeing increasing traction in the focused high-value photovoltaic [PV] market, as our lightweight flexible PV panels are entering into a mature development stage for some applications such as PV-integrated drones and other high-margin PV applications, which we believe will add to our revenue velocity in second half 2015."

See related items:

Ascent Solar reiterates full-year revenue guidance of $10-12m, doubling from 2014

Ascent Solar's expenses drive up annual loss despite quadrupling revenue

Ascent Solar closes on $35m financing

Tags: Ascent Solar EnerPlex CIGS

Visit: www.AscentSolar.com

Visit: www.goenerplex.com

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