NetworkNewsBreaks – AmpliTech Group Inc. (NASDAQ
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Posted On: 05/18/2021 4:56:14 PM
NetworkNewsBreaks – AmpliTech Group Inc. (NASDAQ: AMPG) Announces Q1 Results and Positioning to Participate in Hyper-Growth Opportunities
AmpliTech Group (NASDAQ: AMPG), a designer, developer and manufacturer of state-of-the-art communications components for satellite communications, space, telecom and defense markets, today released financial results for the first quarter of 2021 (“Q1’21”) and reviewed its outlook for Q2’21 and beyond. Among the recent highlights, the company reported record Q1 bookings and a record backlog of $2.4M at close of Q1’21. “Our Q1 results continued to be negatively affected by the COVID-19 pandemic’s impact on the planning and procurement process of high-tech research and corporate organizations, resulting in a temporary reduction in demand for our products and services. Fortunately, we are already beginning to see a reopening of our markets and expect this to progress gradually as the year unfolds. We expect this trend to benefit AmpliTech going forward, along with potential pent-up demand for solutions in 5G, satellite, cyber security, quantum computing and other markets that have developed over the past year,” said AMPG president, CTO and CEO Fawad Maqbool. “AmpliTech has a track record of developing and launching industry benchmark products on accelerated timelines and at more attractive pricing than is possible by our competitors, many of which are very large and diversified. During the past year of COVID-19 related constraints across the industries we serve, we focused our strategy and team on new product development and positioning our company to participate in hyper-growth opportunities presented in satellite communications, the build out of true 5G infrastructure, as well as quantum computing and deep space exploration.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
AmpliTech Group (NASDAQ: AMPG), a designer, developer and manufacturer of state-of-the-art communications components for satellite communications, space, telecom and defense markets, today released financial results for the first quarter of 2021 (“Q1’21”) and reviewed its outlook for Q2’21 and beyond. Among the recent highlights, the company reported record Q1 bookings and a record backlog of $2.4M at close of Q1’21. “Our Q1 results continued to be negatively affected by the COVID-19 pandemic’s impact on the planning and procurement process of high-tech research and corporate organizations, resulting in a temporary reduction in demand for our products and services. Fortunately, we are already beginning to see a reopening of our markets and expect this to progress gradually as the year unfolds. We expect this trend to benefit AmpliTech going forward, along with potential pent-up demand for solutions in 5G, satellite, cyber security, quantum computing and other markets that have developed over the past year,” said AMPG president, CTO and CEO Fawad Maqbool. “AmpliTech has a track record of developing and launching industry benchmark products on accelerated timelines and at more attractive pricing than is possible by our competitors, many of which are very large and diversified. During the past year of COVID-19 related constraints across the industries we serve, we focused our strategy and team on new product development and positioning our company to participate in hyper-growth opportunities presented in satellite communications, the build out of true 5G infrastructure, as well as quantum computing and deep space exploration.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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