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Ascent Solar Technologies Q1 loss narrows YOY

Ascent Solar Technologies Inc. said its first-quarter normalized net income was a loss of 68 cents per share, compared with a loss of $11.41 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $6.6 million, compared with a loss of $12.8 million in the year-earlier period.

Total revenue rose 8.0% on an annual basis to $710,220 from $657,640, and total operating expenses rose 8.4% from the prior-year period to $8.2 million from $7.6 million.

Reported net income totaled a loss of $10.5 million, or a loss of $1.08 per share, compared to a loss of $17.8 million, or a loss of $15.85 per share, in the prior-year period.