Ascent Solar Announces Preliminary Q2-2015 Revenue of $2.2M, Approximately 233% Growth over Q1-2015
July 08 2015 - 6:00AM
Business Wire
Company Reiterates Full Year Revenue
Guidance of $10M - $12M or Approximately 100% YOY Growth
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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150708005322/en/
Ascent Solar TechnologiesInvestor Relations Contact:Justin R.
Jacobs, 1-720-872-5194jjacobs@ascentsolar.com
Ascent Solar Technologies (PK) (USOTC:ASTI)
Historical Stock Chart
From Apr 2024 to May 2024
Ascent Solar Technologies (PK) (USOTC:ASTI)
Historical Stock Chart
From May 2023 to May 2024