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://nnw.fm/pWqSf
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://nnw.fm/AMPG
About NetworkNewsWire
NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 888-902-4192 (U.S. Mobile Phones Only)
For more information please visit https://www.networknewswire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
NetworkNewsWire is part of the InvestorBrandNetwork
