AmpliTech Secures Follow-On Order for Low Noise Amplifier Technology from Fortune 500 Global Defense / Aerospace Company as E...
June 24 2021 - 9:43AM
AmpliTech Group, Inc. (Nasdaq: AMPG), a designer, developer, and
manufacturer of state-of-the-art signal-processing components for
satellite and 5G communications networks, defense, space, and other
commercial applications, announced today it has secured a follow-on
order for its low noise amplifier (LNA) technology from a Fortune
500 global defense and aerospace customer. The products are
expected to ship in Q3’21.
Fawad Maqbool, CEO, commented, “We are pleased to report
continued progress in our business the past few months [that should
enable favorable sequential and year-over-year revenue comparisons
for our second quarter ending June 30th]. As the economy reopens in
the wake of COVID-19, our target industries and customers are
returning to more normal business and procurement patterns,
creating a growing range of revenue opportunities for our
Company.
“We recently secured a follow-on order for our Low Noise
Amplifier technology from a long-standing global defense and
aerospace customer. We are proud that the performance, quality and
return on investment of our solutions continues 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
$30M in net cash raised earlier this year, AmpliTech is very well
positioned to execute our aggressive growth plans with existing
resources.”
About AmpliTech (www.amplitechinc.com)
AmpliTech Group, Inc. designs, develops, and manufactures
state-of-the-art radio frequency (RF) components for global
satellite communications, telecom (5G & IoT), space, defense,
and quantum computing markets as well as systems and component
design consulting services. AmpliTech has a 13+ year track record
of developing high performance, custom solutions to meet the unique
needs of some of the largest companies in the global industries we
serve. We are proud of the unique skills, experience and dedication
of our focused team which enables us to deliver superior solutions,
faster time to market, competitive pricing and excellent customer
satisfaction and repeat business.
Safe Harbor Statement
This release contains statements that constitute forward-looking
statements. These statements appear in several 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 ability to
execute its business plan as anticipated; (ii) trends affecting the
Company's financial condition or results of operations; (iii) 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 because of various factors. Other risks are
identified and described in more detail in the “Risk Factors”
section of the Company’s filings with the SEC, all of which are
available on our website. We undertake no obligation to update, and
we do not have a policy of updating or revising, these
forward-looking statements, except as required by applicable
law.
Corporate Social Media, Investor Social Media Twitter:
@AmpliTechAMPGTwitter:@AMPG_IR Instagram:
@amplitechampg
StockTwits: @AMPG_IR Facebook: AmpliTechInc
Company Contact:Shan Sawant, Director of
Communications
AmpliTech Group, Inc.
shan@amplitech.com646-546-7128 Investor
Contact:David Collins, Investor Relations
Catalyst IRAMPG@catalyst-ir.com212-924-9800
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