AmpliTech Group (NASDAQ: AMPG, AMPGW)
- AmpliTech Group, Inc. receives over $500,000 of orders from a major defense contractor and a leading satellite broadcaster
- AMPG subsidiary, Specialty Microwave, received a $190,000 order from a leading broadcaster
- AMPG also received a $366,000 order from a major defense contractor for the METIS Program
- With increased demand, Amplitech’s backlog has now reached a record $2.2 million
, the provider of industry-leading SATCOM Low Noise Amplifier Solutions for the past 18 years, designs and develops top-quality microwave amplifiers using its experience, technical expertise, and superior design knowledge. AmpliTech announced that the company has received orders worth $500,000 from a major Fortune 100 defense contractor and a major satellite and cable TV broadcaster.
The company’s subsidiary, Specialty Microwave, acquired in 2019, is a satellite communications (SATCOM) products company. They 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. Further, AMPG also received a $366,000 order for its premium low noise amplifiers from a major defense contractor in support of the METIS Program (https://ibn.fm/SMVJN
Fawad Maqbool, the CEO and founder of Ampliteh Group, said that the company was very pleased to receive these orders that reflect the rapidly-increasing demand for high-performance products and its expansion into mainstream emerging technology applications. He went on to say that the demand has remained “pent-up” due to the COVID-19 pandemic, and that they expect bookings to increase in the 2nd
half of the year.
With the growing demand for the company’s products, AMPG reached a record backlog this year. Amplitech announced that its backlog reached $2.2 million at the end of the Q1 of 2021. Fawad stated that the growing backlog indicates the increasing demand and revenues in the upcoming quarters.
To meet the skyrocketing demands, the company is geared towards strengthening its management team and resources as outlined in the S-1 filing and the recent $11 million capital raise by AMPG. Amplitech is well-positioned and equipped with the necessary funds to expand the company’s disruptive technology base, generate increased revenues, and capture greater volumes of its target technology market sectors (https://ibn.fm/liGen
The company’s products cover a frequency range from 50 kHz to 44 GHz, with plans to eventually offer designs up to 100 GHz. AmpliTech also has developed new products for the 5G/6G wireless ecosystem and infrastructure.
For more information, visit the company’s website at www.AmpliTechInc.com
NOTE TO INVESTORS:
The latest news and updates relating to AMPG are available in the company’s newsroom at https://ibn.fm/AMPG
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