Manufacturer of consumer-driven flexible CIGS thin-film products, Ascent Solar said preliminary sales in the third quarter are expected to reach US$275,000, an increase of approximately 22% over second quarter.
Sales of its ‘EnerPlex’ branded consumer products were said to have more than doubled quarter over quarter to US$238,000 in revenue.
Momentum in sales is expected in the fourth quarter when a US Department of Defense contract kicks-in after being delayed by lack of government funding recently.
Victor Lee, president & CEO of Ascent Solar said: “We believe the momentum in our EnerPlex product sales quarter over quarter validates our strategy of shifting towards a B2C business model, implemented nearly a year ago. We continue to experience increasing recognition of the EnerPlex brand and our sales distribution channels have continued to expand both domestically and internationally, which has contributed to the sales growth in the third quarter, and an even a stronger outlook for sales in the fourth quarter.”
The company also said it had approximately US$3.9 million in cash as of 30 September 2013.