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Stock impact report

Ascent Solar Announces Improved First Quarter 2017 Results

Ascent Solar Technologies, Inc (ASTI) 
Company Research Source: Marketwire
THORNTON, CO -- (Marketwired) -- 05/19/17 -- Ascent Solar Technologies, Inc. (OTCQB: ASTI), a developer and manufacturer of state-of-the-art, lightweight, and flexible thin-film photovoltaic (PV) solutions, reported results for the quarter ended March 31, 2017. Q1 2017 Financial Results: The Company posted net revenue of $281K for Q1 2017, a decline of approximately 60% from the corresponding quarter in 2016 of $710K. The revenue decline is a direct result of the Company's exit from the EnerPlex branded consumer business, which was primarily distributed through traditional brick and mortar retail outlets. As previously noted, the company has decided to limit its consumer business to e-commerce platform and OEM model, and instead focus more on the specialty PV market such as defense, drones, aerospace and satellite markets. Notwithstanding the revenue decline, the loss from operations improved approximately 39% to $4.6M from $7.5M in the first quarter of 2016. Thi Show less Read more
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