Ascent Solar’s prelim Q3 revenue grows 22% Q/Q

Oct 29, 2013 - US firm Ascent Solar Technologies Inc (NASDAQ:ASTI) on Monday reported a projected revenue of USD 275,000 (EUR 199,000) for the third quarter of 2013, up 22% sequentially.

The thin-film solar module developer noted that sales of its EnerPlex solar-integrated chargers have increased more than twofold in July-September to USD 238,000 as compared to the previous quarter of 2013. “We believe the momentum in our EnerPlex product sales quarter over quarter validates our strategy of shifting towards a Business-to-Consumer (B2C) business model,” said president and CEO Victor Lee. The EnerPlex products are suitable for portable electronic devices. In the product line are solar-powered charging cases with battery storage and solar-powered charging cases for Apple’s (NASDAQ:AAPL) iPhone and Samsung Electronics’s (KRX:005935) Galaxy smartphones.

Ascent Solar’s government research and development (R&D) contract revenues slumped by over 85% due to a delay in government financing. Still, the company expects the result to improve in the last quarter thanks to a contract with the US Department of Defence (DOD) from June.

Ascent Solar expects to book about USD 3.9 million in cash as of September 30.

(USD 1.0 = EUR 0.725)

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