Ascent Solar Announces Preliminary Q2-2015 Revenue of $2.2M, Approximately 233% Growth over Q1-2015
By Business Wire News
By Business Wire News
Ascent Solar Technologies, Inc. (Nasdaq: ASTI), a developer of state-of-the-art, flexible thin-film photovoltaic modules, integrated into the Company’s EnerPlex™ series of consumer products, announced today the Company’s preliminary Q2-2015 revenue results.
For Q2-2015, the Company is expected to report revenue of $2.2M, a threefold increase from Q1-2015. The increase in quarterly revenue is the result of a strong shipment backlog which carried over from the first quarter of 2015. For the first half of 2015, revenue is expected to be $2.9M, reflecting significant growth of approximately 60% over the same period in 2014. The second half of the year has traditionally been a stronger sales period for the Company 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, the Company is comfortable to reiterate its earlier revenue guidance of $10M – $12M for the full year 2015, which would represent growth of approximately 100% over 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. With launches into several retailers during the first half of the year, we feel confident in confirming our previously issued FY 2015 revenue guidance of approximately 100% revenue growth over 2014,” said Victor Lee, President and CEO of Ascent. “We are also seeing increasing 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 drones and other high margin PV applications, which we believe will add to our revenue velocity in the second half 2015.”
The preliminary, unaudited information provided above is based on the Company’s current estimate of results from operations for the six month period ending June 30, 2015 and remains subject to change based on the Company’s quarterly closing procedures including our execution of our internal controls over financial reporting, or the subsequent occurrence or identification of events prior to the formal issuance of the quarterly financial statements.
About Ascent Solar Technologies: Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic modules with substrate materials that are more flexible, versatile and rugged than traditional solar panels. Ascent Solar modules can be directly integrated into consumer products and off-grid applications, as well as aerospace and building integrated applications. Ascent Solar is headquartered in Thornton, Colorado. For more information, go to www.ascentsolar.com.
About EnerPlex (and design)™: EnerPlex is a registered trademark in the USA, European Community, Australia, Japan and Hong Kong. The EnerPlex brand represents Ascent’s line of consumer products. These products, many of which are integrated with Ascent’s proprietary CIGS technology, provide consumers with the ability to integrate solar into their everyday lives, while enabling them to free themselves and their electronics from the outlet. For more information on the EnerPlex brand and to see the product line, please visit www.goenerplex.com.
Forward-Looking Statements: Statements in this press release that are not statements of historical or current fact constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company’s actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as “believes,” “belief,” “expects,” “expect,” “intends,” “intend,” “anticipate,” “anticipates,” “plans,” “plan,” to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company’s filings with the Securities and Exchange Commission.
Ascent Solar Technologies
Investor Relations Contact:
Justin R. Jacobs, 1-720-872-5194