Ascent Solar Announces Preliminary Q2 2014 Revenue Results

Ascent Solar Technologies, Inc. announced preliminary revenue results for the company’s second quarter ended June 30, 2014.

Based upon preliminary data, the company expects to post second quarter revenue of approximately $1.1 million, an increase of 45% over the first quarter of 2014. This also represents an approximately four-fold revenue increase from second quarter of 2013.

Revenue from operations of the company’s EnerPlex consumer products division increased quarter over quarter to $1.0 million, a 50% sequential growth over the first quarter of 2014. This result represents the first million-dollar product revenue ever generated in a single quarter in the company’s history. Government R&D contracts and Specialty Market PV comprised the remainder of the quarter’s revenue.

The company had previously given investors revenue guidance for the full year 2014 of about $5 million – $6 million. The company continues to stand by this and expects to end the year at the higher end of the guidance.

“The acceleration of our EnerPlex growth trajectory demonstrates the success of our product and sales channel strategies,” Victor Lee, president and CEO of Ascent Solar, said. “Most notably, EnerPlex sales of $1M, which represents greater than 750% growth over our second quarter of 2013, is a significant milestone for the company. The strong momentum of EnerPlex will accelerate as we continue to roll out more innovative products in the second half of the year.”