Bohemia, New York, March 12, 2021 – – AmpliTech Group, Inc. (Nasdaq: AMPG) (Nasdaq: AMPGW) (“AMPG” or the “Company”), a designer, developer, and manufacturer of custom and standard state-of-the-art RF components for Commercial, SATCOM, 5G, Quantum Computing, Space, Defense, and Military markets, announced today the receipt of over $500,000 of orders from a major Fortune 100 defense contractor and a major satellite and cable TV broadcaster.
AMPG’s recent acquisition made in late 2019, Specialty Microwave, a satellite communications (SATCOM) products company, received a $190,000 order from a leading broadcaster that will use Specialty Microwave’s unique equipment to process satellite ground station signals behind the antennas. On the same day, AMPG received a $366,000 order for its state-of-the-art low noise amplifiers from a major defense contractor in support of the METIS Program.
CEO Fawad Maqbool stated, “We are very pleased to receive these orders that indicate that the need for high performance products is growing and expanding into the mainstream emerging technology applications. We feel there is a “pent-up” demand for all products now due to the effect of the Covid-19 pandemic, and accordingly, we expect our bookings to increase in the 2nd half of the year.
About AmpliTech Group, Inc.
AmpliTech Group, Inc. designs, develops, and manufactures custom and standard state-of-the-art RF components for the Domestic and International, SATCOM, Space, Defense and Military markets. These designs cover the frequency range from 50 kHz to 40 GHz – eventually, offering designs up to 100 GHz. AmpliTech also provides consulting services to help with any microwave components or systems design problems. Our steady growth over the past 13+ years has come about because we can provide complex, custom solutions for nearly ANY custom requirements that are presented to us. In addition, we have the best assemblers, wires, and technicians in the industry and can provide contract assembly of customers’ own designs. Website: http://www.AmpliTechinc.com.
Cautionary Note Regarding Forward-Looking Statements
This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company’s future orders and revenues; (ii) the Company’s M&A plans; (iii) trends affecting the Company’s financial condition or results of operations;and (iv) the Company’s growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend,” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Any forward-looking statement made herein speaks only as of the date on which it is made. Factors or events that could cause actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Fawad Maqbool, CEO
AmpliTech Group, Inc.