02.01.16
Ascent Solar Technologies, Inc. announced the company’s preliminary fourth quarter and full year revenue results for the period ended Dec. 31, 2015.
The company posted its highest recorded quarterly net revenue of $2.4 million in the fourth quarter of 2015, an approximately 90% increase over third quarter of $1.25 million. On a full year basis, the company reported net revenue of $6.5 million, a growth of approximately 23% over 2014. Specifically, the EnerPlex brand consumer product line continued to realize growing consumer acceptance, contributing nearly the entirety of the fourth quarter revenue and approximately 90% of the full year 2015 revenue.
“Despite the challenges, we concluded the year with moderate but healthy growth and have laid a very strong foundation for revenue growth heading into 2016,” said Victor Lee, president and CEO of Ascent Solar Technologies. “In particular, the achievement of the listing of our products with the GSA after a full year of hard work, and our expanded retail networks should support our continued growth well.
“We remain extremely confident in the company’s transformation, which began in the second half of 2012 and was demonstrated by the impressive CAGR of 122% achieved since 2013, the de facto first full-year of operations in our EnerPlex division and new consumer focused strategy,” Lee added. “We are very optimistic and certainly look forward to a much stronger 2016 and beyond; as our high-value PV market focus, especially in the military, aviation (drones) and near-space applications begin to take shape.”
The company posted its highest recorded quarterly net revenue of $2.4 million in the fourth quarter of 2015, an approximately 90% increase over third quarter of $1.25 million. On a full year basis, the company reported net revenue of $6.5 million, a growth of approximately 23% over 2014. Specifically, the EnerPlex brand consumer product line continued to realize growing consumer acceptance, contributing nearly the entirety of the fourth quarter revenue and approximately 90% of the full year 2015 revenue.
“Despite the challenges, we concluded the year with moderate but healthy growth and have laid a very strong foundation for revenue growth heading into 2016,” said Victor Lee, president and CEO of Ascent Solar Technologies. “In particular, the achievement of the listing of our products with the GSA after a full year of hard work, and our expanded retail networks should support our continued growth well.
“We remain extremely confident in the company’s transformation, which began in the second half of 2012 and was demonstrated by the impressive CAGR of 122% achieved since 2013, the de facto first full-year of operations in our EnerPlex division and new consumer focused strategy,” Lee added. “We are very optimistic and certainly look forward to a much stronger 2016 and beyond; as our high-value PV market focus, especially in the military, aviation (drones) and near-space applications begin to take shape.”