AmpliTech Group Receives Over $1 Million in Orders
FY2016 Revenue and Profit Expected to Surpass 2015
/EINPresswire.com/ -- BOHEMIA, NY -- (Marketwired) -- 07/27/16 -- AmpliTech Group, Inc. (OTCQB: AMPG) (the "Company") announced today the receipt of $403,000 of orders in fiscal second quarter 2016 and over $700,000 in the month of July, 2016. CEO Fawad Maqbool stated, "We are extremely pleased that our bookings have continued to increase. Although much of our backlog is from repeat customers who realize our superior performance, service, and quality are the keys to their ultimate success, we are pleased that our new products and marketing strategy have also contributed to our increased bookings. With these bookings, coupled with bookings for the rest of the year, we are on track to surpass last year's revenue and profit. Additionally, the receivables will improve our cash flow position and balance sheet."
The Company is also actively continuing efforts to partner with key OEM's to provide superior products for microwave communication and wireless markets. These efforts will expand its reach into rapidly growing sectors of the industry, and increase the Company's market share in existing and new business platforms.
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
This release contains statements that constitute forward-looking statements. These statements appear in a number of 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 financing plans; (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 as a result of various factors.
AmpliTech Group, Inc.