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AmpliTech Group Inc. (NASDAQ: AMPG) Secures Follow-on Order, Earns Russell Microcap(R) Index Inclusion

  • AmpliTech’s commitment to quality and performance is paying off, as seen through two of its recent announcements
  • The company reported it had secured a follow-on order for its LNA technology from a long-standing Fortune 500 customer
  • It also announced inclusion in the Russell Microcap Index that brings together 2,000 companies, whose membership depends on the market capitalization and style attributes

As a company that designs, develops, and manufactures radio frequency (“RF”) components (amplifiers) for satellite and 5G communication, defense, quantum computing, and space markets, AmpliTech Group (NASDAQ: AMPG) has built a reputation anchored on quality and performance that has earned it recognition and business in equal measure. Two recent announcements, made in late June, perfectly illustrate this dual nature of AMPG’s successes.

On June 24, AmpliTech reported it had secured a follow-on order for its low noise amplifier (“LNA”) technology from a long-standing Fortune 500 global defense and aerospace customer, with the products expected to ship in the third quarter of fiscal 2021 (https://nnw.fm/NV38h). AMPG Founder-CEO Fawad Maqbool hailed the order as a demonstration that the performance, quality, and return on investment of the company’s solutions were continuing 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 built-out of satellite, 5G/6G communications, and other specialty applications that require high-quality signal processing solutions,” added Maqbool.

Maqbool also noted that as the economy reopens, the company’s target customers and industries are returning to more normal business and procurement patterns, creating an expanding range of revenue opportunities. Also, with its existing resources, including about $30 million in net cash raised following a recapitalization over the first four months of 2021, the company is well positioned to actively pursue aggressive growth plans and opportunities.

AmpliTech’s focus on developing quality and state-of-the-art signal-processing components, progress thus far, and commitment to growth have not gone unnoticed. The company was recently added to the Russell Microcap Index together with the Index’s annual reconstitution, effective June 25 (https://nnw.fm/wVmQq). 

A part of the FTSE Russell – a global index leader providing innovative benchmarking, analytics, and data solutions for investors worldwide – the Russell Microcap Index provides a comprehensive, unbiased measurement for the microcap segment of the US equity market. Membership in the Russell Microcap Index, which brings together 2,000 companies, is determined mainly by objective market-capitalization rankings and style attributes and remains in place for one year.

“Inclusion in the Russell Microcap Index is a testament to the progress we have made positioning AmpliTech to participate in the build-out of satellite networks, 5G communications, and other next-generation networks,” stated Maqbool. “We are actively pursuing the broad range of growth opportunities before us… We expect AmpliTech’s exciting outlook to be supported by the added investment community visibility and awareness provided by our Russell Index inclusion.”

AmpliTech is focused on being a reliable supplier for high-quality amplifiers needed in telemetric applications, wherein optimal performance is pivotal for successful deployment. It is also keen on supplying components that support systems, which offer enhanced data and bandwidth capabilities vital for undergirding rapid growth in connected devices, entertainment and gaming distribution, video conferencing, Internet of Things (‘IoT”) applications, autonomous-vehicle communications, quantum computing, space exploration, and other bandwidth-intensive applications.

For more information, visit the company’s website at 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

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