Ascent Solar reaffirms 2015 sales forecast despite decline in Q1

US thin-film module maker Ascent Solar Technologies Inc (NASDAQ:ASTI) on Monday said its first-quarter 2015 revenue has fallen by 12.7% in annual terms to USD 658,000 (EUR 578,000), but reiterated its guidance for the full-year.

The Colorado-based firm has developed flexible thin-film photovoltaic (PV) modules which are integrated into a line of consumer products. In January-March 2015, Ascent blamed the decrease in January-March 2015 sales on the typical seasonality of the consumer electronics sector and on a prolonged strike at west coast ports in early 2015.

Yet, because of the significant back-ordered bookings, the company expects to generate higher revenue in the second quarter of the year. For this reason, it is reiterating its previous forecast for 2015 revenue of between USD 10 million and USD 12 million.

“With entrance into several new retailers in the first half of the year, we feel comfortable confirming our previously issued FY 2015 revenue guidance of 100% growth over 2014," said Victor Lee, president and CEO of Ascent.

Ascent Solar also reported a net loss of USD 17.8 million in the past quarter, which compares to a USD-11.7-million deficit a year back.

(USD 1.0 = EUR 0.877)

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