Ascent Solar Technologies, Inc. ("Ascent") (NASDAQ:ASTI), a manufacturer of state-of-the-art, flexible thin-film photovoltaic modules, integrated into off-grid applications and the company's EnerPlex™ series of consumer products, announced today the Company's third quarter results ended September 30, 2014. The Company posted revenue of $1.1 million in the third quarter, the second quarter in a row in which revenue exceeded $1 million. To this point in Q4, the Company has shipped or has backlog scheduled to ship in excess of $2.0 million. As a result, the Company re-affirms its full year revenue guidance of $5 - $6 million given on March 6, 2014, representing a projected 4-fold increase in revenue over 2013. "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," said Victor Lee, President and CEO of Ascent. "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." About Ascent Solar Technologies: Ascent Solar Technologies, Inc. is a developer of thin-film photovoltaic modules using flexible substrate materials that can transform the way solar power generation integrates into everyday life. Ascent Solar modules, which were named one of TIME Magazine's 50 best inventions for 2011, can be directly incorporated into standard building materials, commercial transportation, automotive solutions, space applications, consumer electronics for portable power and durable off-grid solutions. More information can be found at http://www.ascentsolar.com. Forward-Looking Statements:
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intends," "intend," "anticipate," "anticipates," "plans," "plan" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's filings with the Securities and Exchange Commission.