BOHEMIA, NY, Aug. 06, 2018 (GLOBE NEWSWIRE) -- AmpliTech Group, Inc. (OTCQB: AMPG) released its financial statements for the second quarter of 2018 on August 3, 2018. “Sales for the 2nd quarter of 2018 were $618,787 – bringing our year-to-date sales total to over $1 million,” stated CFO Louisa Sanfratello. “Our revenue is on an upward trend with a current backlog of over $1.5 million,” she added.
The addition of Charles Weinhofer as Director of Global Sales, with his many industry contacts in the U.S. and overseas, has already yielded results in the form of achieving over half a million dollars in new bookings in July alone. Innovative product-focused marketing techniques along with a good showing at the 2018 International Microwave Symposium in June have increased inquiries by over 50% compared to this time last year and served to expand AmpliTech’s presence in existing markets, such as radar systems and military communications, as well in exciting new markets, such as quantum computing and extremely low-noise SATCOM receivers for use in airline Wi-Fi systems as well as terrestrial internet gateways.
The recent overall success has proven that AmpliTech’s extensive research and development efforts to grow the company in a controlled, sustained manner are bearing fruit as the company continues to evolve in a positive direction. AmpliTech CEO Fawad Maqbool is determined to be proactive in maintaining this evolution, stating that “AmpliTech will meet growing production needs by augmenting existing staff with qualified and experienced personnel not only to help with current projects, but to contribute greatly to the already rapid addition of new product lines.”
About Amplitech Group, Inc.:
AmpliTech Group, Inc. designs, develops, and manufactures custom and standard state-of-the-art RF (Low Noise Amplifiers (LNA) and Power Amplifiers (PA) for the Domestic and International, SATCOM , Space , 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 us. In addition, we have the best assemblers, wires, and technicians in the industry and can provide contract assembly of customers' own designs. Click here to view AmpliTech video. Website: www.AmpliTechInc.com . Contact us via Twitter (@AmpliTechAMPG).
Safe Harbor Statement:
With the exception of historical information contained in this press release, content herein may contain "forward looking statements" that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that forward looking statements involve risks and uncertainties that could cause actual results to differ materially from the statements made. Matters that may cause actual results to differ materially from those in the forward-looking statements include, among other factors, the gain or loss of a major customer, change in environmental regulations, disruption in supply of materials, a significant change in general economic conditions in any of the regions where our customer utilities might experience significant changes in electric demand, a significant disruption in the supply of coal to our customer units, the loss of key management personnel, failure to obtain adequate working capital to execute the business plan and any major litigation regarding the Company. In addition, this release contains time-sensitive information that reflects management's best analysis only as of the date of this release. The Company does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release. Further information concerning issues that could materially affect financial performance related to forward-looking statements contained in this release can be found in the Company's periodic filings with the Securities and Exchange Commission.\
Louisa Sanfratello 631-944-1670 louisa@amplitechinc.com
