Ascent Solar Announces Q1 2014 Revenue Results

Ascent Solar Technologies, Inc. announced preliminary revenue results for the company’s first quarter ended March 31, 2014.

Based upon preliminary data, the company expects to post first quarter revenue of approximately $753,000, an increase of 30% over the fourth quarter of 2013 and slightly above the high end of published guidance for the quarter.

This also represents an approximately three-fold revenue increase from third quarter of 2013. Sales of its EnerPlex branded consumer products increased quarter over quarter 29% to $630,000. First quarter Government R&D contract revenue was $81,000, a sequential increase of 8%. Specialty Market PV sales of $42,000 composed the balance of the revenue for the quarter.

“We are particularly pleased to be able to report revenue above the high end of our guidance, demonstrating to our shareholders the sustained growth trajectory of our EnerPlex brand and products,” Victor Lee, president and CEO of Ascent Solar, said. “Notably, our revenue growth was achieved in what is traditionally a seasonally weaker quarter in the retail industry. At this stage, early indications are that our second quarter sequential growth rate will accelerate due to the continued acceptance of our products, and support from our growing network of retailers and distributors.”