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Press Release
AstroPower Named by Forbes as One of the 200 Best Small Companies
Thursday October 17, 1:33 pm ET
Company Receives Ranking on Publication's Prestigious 200 Best Small Companies List
NEWARK, Del.--(BUSINESS WIRE)--Oct. 17, 2002--AstroPower, Inc. (NASDAQ:APWR - News) announced today that it has been named one of the 200 best small companies by Forbes.
Ranked 19 in terms of annual sales growth and 147 overall, AstroPower is being featured among 200 companies in the technology, retail and apparel, food and restaurants, and healthcare sectors in the October 28, 2002 issue of Forbes Magazine.
The Forbes 200 Best Small Companies list surveys public companies based on factors such as sales, market value, and profits as well as relative stock price strength.
Only companies with 12-month sales of $5 million to $600 million; a stock price above $5.00 per share; a five-year average return on equity of at least five percent; and a net margin of at least five percent, excluding extraordinary and nonrecurring items, are reviewed.
"This recognition is a tribute to AstroPower and its foundation," said Dr. Allen Barnett, President and CEO of AstroPower. "AstroPower is committed to meeting the needs of all of our customers, and we are dedicated to increasing the quality of life of those residing off the utility grid in rural countries as well as mainstream U.S. consumers. We are honored to be considered one of the best 200 small companies."
About AstroPower
Headquartered in Newark, Delaware, AstroPower is the world's largest independent manufacturer of solar electric power products, and one of the world's fastest-growing solar electric power companies.
AstroPower develops, manufactures, markets and sells a range of solar electric power generation products, including solar cells, modules, and panels as well as its SunChoice(TM) pre-packaged systems for the global marketplace. 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 that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act 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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