Ascent Solar Q1 revenue increases 30 percent compared to 4Q 2013

Ascent Solar Technologies said it expects to post the first quarter revenue of approximately $753,000, an increase of 30 percent over the fourth quarter of 2013, approximately threefold revenue increase from third quarter of 2013.

Sales of its EnerPlex branded consumer products increased quarter over quarter 29 percent to $630,000.

First quarter Government R&D contract revenue was $81,000, a sequential increase of 8 percent. Specialty Market PV sales of $42,000 composed the balance of the revenue for the quarter.

Specialty Market PV sales of $42,000 composed the balance of the revenue for the quarter.

Ascent Solar achieved the revenue growth in what is traditionally a seasonally weaker quarter in the retail industry.

Victor Lee, president and CEO of Ascent Solar, said, “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.”

[email protected]