Alpine 4 Holdings, Inc. (ALPP) Subsidiary, Quality Circuit Assembly, Inc., Completes its Best Quarter Ever with $4.7 Million in New Work for Q1 2023 and Expands its Production Capabilities with 3rd Juki Pick & Place Line to Meet Growing Demand

Rhea-AI Summary

Alpine 4 Holdings, Inc. subsidiary Quality Circuit Assembly, Inc. achieves record growth in Q1 2023 with $4.7 million in new work. They also added a new Juki Pick and Place Line worth $780K to support the growing demand. The company's investment in their upgraded manufacturing facility reinforces their commitment to QCA's future growth.

Positive

• Quality Circuit Assembly, Inc. achieved record growth in Q1 2023 with $4.7 million in new work.
• Alpine 4 Holdings, Inc. invested $780K in a new Juki Pick and Place Line to support the growing demand.
• The company's investment in their upgraded manufacturing facility reinforces their commitment to QCA's future growth.

Negative

• None.

PHOENIX, AZ / ACCESSWIRE / May 10, 2023 / Alpine 4 Holdings, Inc. (Nasdaq:ALPP), a leading operator and owner of small market businesses, announced today that its subsidiary, Quality Circuit Assembly, Inc. (QCA) achieves record growth for Q1 2023 with $4.7 Million in new work respectively for the quarter. Additionally, the company added a 3rd state-of-the-art Juki Pick and Place Line worth $780K, to help support the increasingly growing demand for its services. This record growth and the necessity for new cutting-edge equipment continues to further reinforce the company's investment in to their new, upgraded manufacturing facility.

QCA's President, Tim Garcia, commented, "Quality Circuit Assembly is at the precipice of making the jump to the next level of Contract Manufacturing. Alpine 4's commitment to QCA has allowed for new equipment, improved quality control, the hiring of skilled technicians, and the implementation of state-of-the-art manufacturing software that will assist in QCA's future. These improvements have increased QCA's capabilities to bring in extremely complex assemblies which were unattainable in the past. Furthermore, they have allowed management to focus on speed, quality and to be able to compete in a highly competitive market. The growth potential for QCA is exponential."

About Quality Circuit Assembly: Quality Circuit Assembly, Inc. has provided high-tech electronic contract manufacturing solutions in the Silicon Valley area for over three decades. The company prides itself on being ITAR, AS9100D, UL, IPC A 610, and J-STD-001 certified. The aerospace industry established AS9100 certification to provide a single quality management system to satisfy quality requirements from the Department of Defense, NASA, and Federal Aviation Administration.

https://www.qcamfg.com/

About Alpine 4 Holdings: Alpine 4 Holdings, Inc. is a Nasdaq traded Holding Company (trading symbol: ALPP) that acquires business, wholly, that fit under one of several portfolios: Aerospace, Defense Services, Technology, Manufacturing or Construction Services as either a Driver, Stabilizer or Facilitator from Alpine 4's disruptive DSF business model. Alpine 4 works to vertically integrate the various subsidiaries with one another even if from different industries. Alpine 4 understands the nature of how technology and innovation can accentuate a business, focusing on how the adaptation of new technologies, even in brick-and-mortar businesses, can drive innovation. Alpine 4 also believes that its holdings should benefit synergistically from each other, have the ability to collaborate across varying industries, spawn new ideas, and create fertile ground for competitive advantages.

Four principles at the core of our business are Synergy. Innovation. Drive. Excellence. At Alpine 4, we believe synergistic innovation drives excellence. By anchoring these words to our combined experience and capabilities, we can aggressively pursue opportunities within and across vertical markets. We deliver solutions that not only drive industry standards, but also increase value for our shareholders.

Contact:

Investor Relations
investorrelations@alpine4.com
www.alpine4.com

Forward-Looking Statements: Certain statements and information in this press release may constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and the Private Securities Litigation Reform Act of 1995. The information disclosed in this press release is made as of the date hereof and reflects Alpine 4 most current assessment of its historical financial performance. Actual financial results filed with the SEC may differ from those contained herein due to timing delays between the date of this release and confirmation of final audit results. These forward-looking statements are not guarantees of future performance and are subject to uncertainties and other factors that could cause actual results to differ materially from those expressed in the forward-looking statements including, without limitation, the risks, uncertainties, including the uncertainties surrounding the current market volatility, and other factors the Company identifies from time to time in its filings with the SEC. Although Alpine 4 believes that the assumptions on which these forward-looking statements are based are reasonable, any of those assumptions could prove to be inaccurate and, as a result, the forward-looking statements based on those assumptions also could be incorrect. You should not place undue reliance on these forward-looking statements. The forward-looking statements contained in this release are made as of the date hereof, and Alpine 4 disclaims any intention or obligation to update the forward-looking statements for subsequent events.

Other factors that may affect our businesses include global economic trends, competition and geopoliticalrisks, including changes in the rates of investment or economic growth in key markets we serve, or anescalation of sanctions, tariffs or other trade tensions between the U.S. and China or other countries, and related impacts on our businesses' global supply chains and strategies; market developments or customer actions that may affect demand and the financial performance of major industries and customers we serve, such as secular, cyclical and competitive pressures in our Technology, Construction and Manufacturing businesses; pricing, the timing of customer investment and other factors in these markets; demand for our products or other dynamics related to the COVID-19 pandemic; conditions in key geographic markets; and other shifts in the competitive landscape for our products and services; changes in law, regulation or policy that may affect our businesses, such as trade policy and tariffs, regulation and the effects of tax law changes; our decisions about investments in research and development, and new products, services and platforms, and our ability to launch new products in a cost-effective manner; our ability to increase margins through implementation of operational changes, restructuring and other cost reduction measures; the impact of actual or potential failures of our products or third-party products with which our products are integrated, and related reputational effects; the impact of potential information technology, cybersecurity, or data security breaches atAlpine 4, our subsidiaries or third parties; and the other factors that are described in "Risk Factors" in ourAnnual Report on Form 10-K for the year ended December 31, 2022, as updated in our Quarterly Reports onForm 10-Q 2022.

SOURCE: Alpine 4 Holdings, Inc.

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FAQ

What is the record growth achieved by Quality Circuit Assembly, Inc. in Q1 2023?

Quality Circuit Assembly, Inc. achieved $4.7 million in new work in Q1 2023.

What investment did Alpine 4 Holdings, Inc. make to support the growing demand?

Alpine 4 Holdings, Inc. invested $780K in a new Juki Pick and Place Line.

What does the investment in the upgraded manufacturing facility reinforce?

The investment reinforces Alpine 4 Holdings, Inc.'s commitment to Quality Circuit Assembly, Inc.'s future growth.