PV module manufacturer Ascent Solar has announced its third quarter results, which ended on 30 September 2014.
Ascent compiled a revenue of US$1.1 million – the second straight quarter in which the company posted revenue over US$1 million. At this current point in the fourth quarter, Ascent has a backlog scheduled to ship an excess of US$2 million.
Victor Lee, president and CEO of Ascent, said: “We are very encouraged that our revenue continues to show rapid growth. Since Ascent Solar began to reposition its business model in H2 2012, by pivoting into consumer goods and specialty applications, we are experiencing accelerated acceptance of our flagship EnerPlex products. We expect to continue this growth trend, while maintaining our focus on sales of products which capture the entire consumer value chain and at prices that are a premium to other solar manufacturers.
Lee added: “The clear indication that Q4 revenue will be more than double the September quarter reinforces the viability of the transformational business model that we embarked on in H2 2012. As we continue to build and expand our EnerPlex distribution channels domestically and internationally, we expect to achieve higher sales, better economies of scale, and dramatically reduce our overall costs, enabling meaningful improvements in product margin.”