AstroPower, Inc. Announces Expected Third Quarter Product Revenues.Business Editors NEWARK, Del.--(BUSINESS WIRE)--Oct. 3, 2002 AstroPower, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :APWR APWR Advanced Pressurized Water Reactor APWR Americans for the Preservation of the White Race APWR Anti-Pyramid Web Ring (Bosnian bloggers) APWR Alliance to Protect Water Resources, Inc. ), a leading supplier of solar electric power products, today announced that its product revenues for the three months ended September 30, 2002 are expected to be approximately $22.7 million. Dr. Allen M. Barnett, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AstroPower commented "We are pleased by the resumption of sequential growth, with expected product revenues for the quarter up 13% on a sequential basis and more than 27% over the same quarter in 2001. Although market growth in Germany continued to be relatively flat through Q3, this was offset somewhat by growth in several other regions, including North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Asia. North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. shipments were driven by a particularly strong performance in our SunChoice residential rooftop program. Shipments into Asia were bolstered by strong demand for solar cells solar cell, semiconductor devised to convert light to electric current. It is a specially constructed diode, usually made of silicon crystal. When light strikes the exposed active surface, it knocks electrons loose from their sites in the crystal. . We expect to be able to accelerate our sequential growth rate in the fourth quarter based on present demand and increased manufacturing output." AstroPower will issue a news release regarding its full third quarter 2002 results on Monday, November 4, 2002 after the close of the markets. AstroPower will then host a conference call to discuss the release, financial results and other matters of interest to investors and analysts on Monday, November 4, 2002 at 5:30pm, Eastern Time. The conference call will be broadcast simultaneously over the Internet. Investors and others are invited to visit www.vcall.com or the corporate website at www.astropower.com to access this broadcast. About AstroPower AstroPower develops, manufactures, markets and sells solar cells, modules, panels and systems for generating solar electric power. AstroPower is the largest US-owned manufacturer of solar electric power products, and one of the world's fastest growing solar electric power companies. Solar electric power systems provide a clean, renewable source of electricity in both off-grid and on-grid applications. For more information, please visit www.astropower.com. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are made pursuant to the Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements involve risks and uncertainties, as described in the Company's registration statements and periodic reports filed with the Securities and Exchange Commission. As a result, there can be no assurance that the Company's future results will not be materially different from those projected. The projections contained herein speak only of the Company's expectations as of the date of this press release. The Company hereby expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which such statement is based. |
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