This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Ascent Solar Reports Fourth Quarter And FY2013 Results

Stocks in this article: ASTI

Ascent Solar Technologies, Inc. (Nasdaq: ASTI), a developer of state-of-the-art, flexible thin-film photovoltaic modules, integrated into the Company's EnerPlex series of consumer products, reported results for the fourth quarter and year ended December 31, 2013.

Q4 2013 Highlights

  • Ascent Solar completed $10M preferred stock financing with Ironridge Technology Co. Funding of first $5M tranche completed in October 2013, with second $5M tranche delivered in February 2014
  • Definitive agreement signed to form Joint Venture (JV) and build new manufacturing plant in Suqian of Jiangsu Province, China. Suqian will provide RMB200M ($32.5M) for the JV
  • Ascent Solar debuted EnerPlex Surfr battery &solar case for iPhone ®5 and 5S at CES 2014
  • Ascent Solar announced availability of EnerPlex Surfr battery & solar case for Samsung S ®4
  • Ascent Solar expanded retail distribution network into Japan
  • Ascent Solar’s flexible photovoltaic modules selected for The Volvo Pure Tension Pavilion Project
  • Ascent Solar expanded retail kiosk locations in California and Nevada
  • Ascent Solar announced availability of EnerPlex products on walmart.com, newegg.com, sears.com and others
  • Ascent Solar announced debut of EnerPlex Packr , a solar-integrated backpack

Q4 2013 Financial Results

Total revenue for the fourth quarter of 2013 was $580K, up 112% from the previous quarter. Specifically, EnerPlex branded consumer product revenue was $490K in the fourth quarter, up from $237K in the prior quarter, a 107% increase. R&D contract sales for the quarter were $75K, up from less than $10K in the previous quarter reflecting the initiation of a new government contract.

Net operating loss for the fourth quarter was $7.3M compared to a net operating loss of $6.4M in the previous quarter and a net operating loss of $10.3M in the fourth quarter of 2012. The increase in the sequential net operating loss was primarily due to an increase in Sales and Marketing expenses of $0.5M as we continue to expand our sales channels. Cash and cash equivalents decreased to $3.3M at December 31, 2013 from $3.9M at September 30, 2013.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,652.66 -19.94 -0.11%
S&P 500 2,052.46 +0.64 0.03%
NASDAQ 4,763.6770 +5.7980 0.12%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs