WASHINGTON (dpa-AFX) - Ascent Solar Technologies, Inc. (ASTI), a manufacturer of flexible thin-film photovoltaic or PV solutions, said its net loss for the third quarter narrowed to $2.35 million from $11.79 million in the year-ago period. Loss per share was $0.0003 compared to loss of $0.15 in the year-ago period.
The substantial reduction in net loss was due in part to improved operational loss as well as a positive swing to a non-cash gain of $2.2 million from a non-cash loss of $4.5 million in the same period in 2016, on extinguishment of liabilities associated with the outstanding convertible notes and convertible preferred stock.
Net revenue for the quarter declined to $242,055 from $452,674 in the prior-year quarter.
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