Ascent Solar Technologies expects to post revenues of approximately $1.1 million, an increase of 45 percent over the first quarter of 2014, and a 4-fold increase from the second quarter of 2013.
The preliminary results also shows that revenue from operations of the company’s EnerPlexconsumer products division increased quarter over quarter to $1.0 million, a 50 percent 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.
For the full year 2014, the company had given revenue guidance of about $5 – $6 million. The company continues to stand by this and expects to end the year at the higher end of the guidance.
Victor Lee, president and CEO of Ascent Solar, said, “The acceleration of our EnerPlex growth trajectory demonstrates the success of our product and sales channel strategies. Most notably, EnerPlex sales of $1M, which represents greater than 750 percent growth over our second quarter of 2013, is a significant milestone for the company.”
Lee added the strong momentum of EnerPlex will accelerate as the company continues to roll out more innovative products in the second half of the year.