08.14.15
Ascent Solar Technologies, Inc. reported results for the second quarter ending June 30, 2015. Total revenue for the second quarter of 2015 was $2.2 million, up approximately 105% from the same period last year. Loss from operations in the quarter was $6.9 million, an improvement of approximately $1 million or 12.6% from the same period last year.
For the six months ended June 30, 2015, total revenue was $2.9 million, up from $1.8 million in H1 2014 or approximately 57% growth. Loss from operations improved by approximately 11% or $1.7 million from $15.5 million in H1 2014 to $13.8 million in H1-2015, due to a combination of increasing sales and improved operational efficiencies while keeping operating expenses marginally down. These expenses are expected to remain relatively flat while the compnay continues to ramp up on revenue growth.
“I am pleased with the continued growth in the first half of 2015 and am excited about the potential of the company after delivering our first ever $5M revenue mark in the history of Ascent Solar in 2014,” said Victor Lee, president and CEO of Ascent. “With the ongoing expansion of our distribution channels, I am optimistic to set yet another significant revenue milestone of over $10M for fiscal year 2015. The repositioning of Ascent Solar over the past three years is beginning to yield results, particularly in regards to the accelerating growth and acceptance of the EnerPlex line of products in retail channels. We are fully prepared to execute our business plan both in the consumer category as well as the high-value PV markets.”
For the six months ended June 30, 2015, total revenue was $2.9 million, up from $1.8 million in H1 2014 or approximately 57% growth. Loss from operations improved by approximately 11% or $1.7 million from $15.5 million in H1 2014 to $13.8 million in H1-2015, due to a combination of increasing sales and improved operational efficiencies while keeping operating expenses marginally down. These expenses are expected to remain relatively flat while the compnay continues to ramp up on revenue growth.
“I am pleased with the continued growth in the first half of 2015 and am excited about the potential of the company after delivering our first ever $5M revenue mark in the history of Ascent Solar in 2014,” said Victor Lee, president and CEO of Ascent. “With the ongoing expansion of our distribution channels, I am optimistic to set yet another significant revenue milestone of over $10M for fiscal year 2015. The repositioning of Ascent Solar over the past three years is beginning to yield results, particularly in regards to the accelerating growth and acceptance of the EnerPlex line of products in retail channels. We are fully prepared to execute our business plan both in the consumer category as well as the high-value PV markets.”