AmpliTech Group (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, has released its Q3 2021 financial results as well as results for its first nine months of 2021. Third-quarter revenue totaled $1,056,595 for the quarter with the company contracting for $1.2 million in new orders for LNA technology in the fourth quarter, resulting in AmpliTech increasing its order backlog to a record $3.35 million as of Nov. 15, 2021, compared to a $2.45 million backlog in August 2021. The company also signed a lease for a 20,000-square-foot manufacturing and headquarters facility on Long Island, New York, with plans for the new facility to be in full operation by the first quarter in 2022. In addition, the company’s cash and equivalents and marketable securities reached $27.1 million by quarter end. “This is an extremely exciting time at AmpliTech as we are now well funded to position our industry leadership in radio frequency signal processing technologies in very large markets for satellite communications, 5G connectivity and quantum computing,” said AmpliTech CEO Fawad Maqbool in the press release. “At the core, our solutions and expertise enable our customers to move data with greater efficiency, reliability and at a lower cost. This value-add is particularly important given the enormous cost of the communications solutions in which our technologies are deployed. . . . Given the size and projected growth in each of our target markets, combined with the enhanced performance and ROI our solutions deliver, we believe AmpliTech is very well positioned for growth, particularly as the distraction of supply chain issues fades and our customers are able to focus on projects to support their long-term goals.”
To view the full press release, visit https://ibn.fm/YuIfy
About AmpliTech Group Inc.
AmpliTech designs, develops and manufactures state-of-the-art radio frequency (“RF”) components for global satellite communications, telecom (5G and IoT), 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
About InvestorWire
InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.
With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.
Get more out of your next press release with InvestorWire. It’s unlike anything you’ve seen before.
For more information, please visit https://www.InvestorWire.com
Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer
InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
Editor@InvestorWire.com
InvestorWire is part of the InvestorBrandNetwork.
