Ascent Solar Reports 1Q 2013 Results

Ascent Solar Technologies, Inc. reported results for the first quarter ended March 31, 2013.

Product revenue in the first quarter of 2013 was $176,000 compared to $32,000 in the previous quarter and $10,000 in the first quarter of 2012. The sequential and year over year increases were due to the company’s improving product acceptance across a range of markets.

Net loss for the first quarter was $6.4 million or $(0.13) per share compared to a loss of $11.0 million or $(0.21) per share in the previous quarter and a loss of $5.5 million or $(0.14) per share in the first quarter of 2012.

The decrease in the sequential quarterly net loss was due primarily to a combined decrease in asset impairment losses of $4.8 million. The net loss increase from the first quarter of 2012 was due to increased operating expenses associated with our focus on consumer oriented solar-assisted devices.

Cash and cash equivalents decreased to $7.0 million at March 31, 2013 from $12.6 million at December 31, 2012.
Product revenue in the first quarter of 2013 was $176,000 compared to $32,000 in the previous quarter and $10,000 in the first quarter of 2012. The sequential and year over year increases were due to the company’s improving product acceptance across a range of markets.

Net loss for the first quarter was $6.4 million or $(0.13) per share compared to a loss of $11.0 million or $(0.21) per share in the previous quarter and a loss of $5.5 million or $(0.14) per share in the first quarter of 2012.

The decrease in the sequential quarterly net loss was due primarily to a combined decrease in asset impairment losses of $4.8 million. The net loss increase from the first quarter of 2012 was due to increased operating expenses associated with our focus on consumer oriented solar-assisted devices.

Cash and cash equivalents decreased to $7.0 million at March 31, 2013 from $12.6 million at Dec. 31, 2012.

“Our first quarter results reflect positive momentum in the execution of our focus established in 2012, particularly the growth of core consumer product sales,” said Victor Lee, president and CEO of Ascent. “We have seen rapid expansion of our product mix including our EnerPlex consumer products, solar module components customers integrate into their consumer and defense products, as well as custom finished goods manufactured for our customers based on co-development projects.

“Moving ahead, we plan to continue to grow product revenue through product line expansion and growth on our distributor base which will help us reach more customers worldwide,” Mr. Lee added.


May 10, 2013
www.appliednanotech.net
Applied Nanotech Seeks New CEO

New leader needed for next phase of growth

The Board of Directors of Applied Nanotech Holdings, Inc. announced that it is seeking a new CEO. On behalf of the entire board, Applied Nanotech chairman Dr. Robert Ronstadt, thanked the company’s current CEO, Doug Baker, for his services during a challenging time of strategic transition for the company. Mr. Baker will remain the company’s chief financial officer.

A search committee led by Dr. Ronstadt will begin to screen candidates immediately for the CEO position.

“We are seeking a business leader with sound strategic judgment, a strong technical background and who has proven experience in commercializing promising new technologies,” Dr. Ronstadt noted. “He or she should have the ability to interface effectively with the financial community and an ability to develop strategic partnerships that can accelerate the commercialization of our exciting technologies that originate from our award-winning research unit in Austin.”

“Candidates should be able to understand how to capture the commercial opportunities associated with innovative materials technologies, and must effectively lead the skilled team at Applied Nanotech as we seek to build value for our shareholders, potential investors, and strategic partners,” vice chairman Paul Rocheleau added. “We are confident that the right person will be excited to join the company given the broad range of potential opportunities that can be rapidly commercialized by the company and its subsidiaries.”

“Applied Nanotech offers a wonderful opportunity for a seasoned high tech entrepreneur who is willing to live in Austin and take a career risk with a company that has tremendous upside potential,” Dr. Ronstadt added. “Under the leadership of Dr. Zvi Yaniv, our management, employees and directors have done an exemplary job building Applied Nanotech over the last six years. Now we need a leader who can grow the company so that its disruptive technologies can change the lives of people around the world.”

Applied Nanotech intends to engage a search firm; however, shareholders and others are invited to submit nominations or applications electronically to Dr. Ronstadt at [email protected].