AmpliTech Group (NASDAQ: AMPG)
has secured a follow-on order for its low noise amplifier (“LNA”) technology. The order is from a Fortune 500 global defense and aerospace customer, and the products should ship in the third quarter of this year. AMPG is a designer, developer and manufacturer of state-of-the-art, signal-processing components for satellite and 5G communications networks. In the announcement, AmpliTech noted that its continued business progress in the past few months should enable favorable sequential and year-over-year revenue comparisons for the quarter ending June 30, 2021. With the economy reopening in the wake of COVID-19, the company anticipates its target industries and customers returning to previous business and procurement patterns and creating a growing range of revenue opportunities for the company. “We recently secured a follow-on order for our low noise amplifier technology from a long-standing global defense and aerospace customer,” said AmpliTech CEO Fawad Maqbool in the press release. “We are proud that the performance, quality and return on investment of our solutions continue to earn repeat business from global leaders. We are ramping up our product development and sales and marketing efforts to position AmpliTech to supply cutting-edge technologies for the build-out of satellite, 5G/6G communications and other specialty applications that require high-quality, signal-processing solutions. With our strong financial position, including approximately $30 million in net cash raised earlier this year, AmpliTech is very well positioned to execute our aggressive growth plans with existing resources.”
To view the full press release, visit https://ibn.fm/MfMAz
About AmpliTech Group Inc.
AmpliTech designs, develops and manufactures state-of-the-art radio frequency (“RF”) components for global satellite communications, telecom, space, defense and quantum computing markets as well as systems and component design consulting services. AmpliTech has a 13-plus year track record of developing high-performance custom solutions to meet the unique needs of some of the largest companies in the global industries that it serves. The company is proud of the unique skills, experience and dedication of its focused team, which enables AMPG to deliver superior solutions, faster time to market, competitive pricing and excellent customer satisfaction and repeat business. For more information about the company, please visit 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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