AmpliTech Group's Backlog Rises to $2.2 Million
AmpliTech Group, Inc. (NASDAQ: AMPG) reported a record backlog of $2.2 million as of the end of Q1 2021, indicating strong demand and potential revenue growth. The company plans to strengthen its management and resources following an $11 million capital raise in February. This funding aims to enhance their technology base targeting emerging markets. CEO Fawad Maqbool expressed optimism about increased demand and revenues in the upcoming quarters, highlighting the company's commitment to innovation in RF component manufacturing.
- Record backlog of $2.2 million indicates strong demand.
- Successful $11 million capital raise enhances growth potential.
- Plans to strengthen management and resources for future growth.
- None.
BOHEMIA, N.Y., March 29, 2021 /PRNewswire/ -- AmpliTech Group, Inc. (NASDAQ: AMPG) (NASDAQ: AMPGW), a designer, developer, and manufacturer of custom and standard state-of-the-art RF components for Commercial, SATCOM, 5G, Quantum computing, Space, Defense, and Military markets, announced that its backlog has reached
Fawad Maqbool, CEO, stated, "We are pleased to see the backlog build to this level by the end of the first quarter. This portends the increase in demand and revenues for upcoming quarters."
The Company is in the process of bolstering its management team and resources pursuant to its plan as outlined in the S-1 filing and recent
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, Defense 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. 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. 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.
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SOURCE AmpliTech Group, Inc.
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