Ascent Solar Technologies (ASTI) Announces Strong Prelim. Q2 Revenue; Reaffirms FY15 Outlook

Ascent Solar Technologies (NASDAQ: ASTI) announced 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.

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