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26 May 2015

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

For first-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 revenue of $660,000, down on $2.4m last quarter.

However, results were negatively impacted by the typical seasonality of the consumer electronics industry, where the first quarter is typically the slowest. Also, a prolonged strike at West Coast ports in early 2015 contributed to delays in product delivery, pushing back deliveries into Q2.

The firm hence has significant back-ordered bookings that should result in revenue for Q2, taking it back on track to its earlier revenue guidance of $10-12m for full-year 2015.

"We are very excited about the increased visibility of our EnerPlex products in growing numbers of reputable retailers," says president & CEO Victor Lee. "With entrance into several new retailers in the first half of the year, we feel comfortable confirming our previously issued fiscal year 2015 revenue guidance of 100% growth over 2014 [for which full-year revenue was $5.3m]," he adds.

"We are also seeing an increased traction in the focused high-value PV market as our lightweight flexible PV panels are entering into a mature development stage for some applications such as PV-integrated UAVs [unmanned airborne vehicles] and portable PV power solutions, which we believe will add to our revenue velocity in second-half 2015."

See related items:

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

Ascent Solar closes on $35m financing

Ascent Solar's Q3 reaffirms full-year guidance of four-fold growth over 2013

Tags: Ascent Solar EnerPlex CIGS

Visit: www.AscentSolar.com

Visit: www.goenerplex.com

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