PRESS RELEASES
Bohemia, NY – ( NewMediaWire ) – April 3, 2018 – AmpliTech Group Inc. (OTCQB:AMPG) has announced its financial results for the fiscal year ended December 2017. Louisa Sanfratello, CFO, commented that “2017 was a pivotal year for AmpliTech, as our focus was on research and development. We introduced a new line of cryogenic amplifiers which has begun to manifest into growth opportunities in 2018. A significant portion of our nominal loss in 2017 is attributable to the R&D costs we incurred. In addition, stepping up our marketing efforts for existing and new products has increased our backlog of orders to over $1 million dollars.”
The Company attended the Satellite 2018 trade show and symposium in Washington, DC several weeks ago to meet with customers and potential business partners. AMPG has been developing new products to support the rapidly growing Satellite communications business in both commercial internet gateways and wireless satellite connectivity platforms. AMPG is partnering with companies that integrate and build entire “hubs” and “teleports” that provide video and data services from satellites to terrestrial ground networks. These networks will feature AMPG low noise amplifiers due to their outstanding performance and flexibility.
CEO Fawad Maqbool stated, “The show was very well-attended, and we met with several suppliers and customers to expand our product line and platform. We were very pleased to be informed by one of our customers, a large satellite connectivity company, that AmpliTech passed the qualification tests for a newly designed LNA assembly and we are about to receive the largest single order in AmpliTech history. The Company also expects large orders from other major customers later this year, so we are headed in the right direction.” The Company will be exhibiting again in June at the annual IMS 2018 Symposium.
About AmpliTech Group, Inc.
AmpliTech Group, Inc. designs, develops, and manufactures custom and standard state-of-the-art RF components 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: http://www.AmpliTechinc.com
Forward-Looking Statements
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.
Contact: AmpliTech Group, Inc. Fawad Maqbool 631 872 5031
