AmpliTech to Highlight Performance of its Quantum Computing, Satellite and 5G/Telecom Signal Amplification Solutions at APS March Meeting (Chicago), Satellite 2022 (Washington) & IMS 2022 (Denver), Respectively
AmpliTech Group, Inc. (Nasdaq: AMPG) announced its expanded business development initiatives for 2022, including participation in key industry conferences such as the APS March Meeting and Satellite 2022. The company has a backlog of $10.5M in orders, significantly higher than the $3.5M revenue generated in the previous year. CEO Fawad Maqbool highlighted a focus on advancing their Low Noise Amplifier MMIC chipsets and a successful first trial run with an 85% success rate, preparing for initial customer sampling by the end of Q1 2022.
- Backlog of $10.5M indicates strong future revenue growth potential.
- Participation in major industry conferences to enhance market visibility.
- Successful trial MMIC silicon wafer run with an 85% success rate.
- Focus on innovative Low Noise Amplifier (LNA) MMIC chipsets expected to improve performance and efficiency.
- None.
BOHEMIA, N.Y., Jan. 27, 2022 (GLOBE NEWSWIRE) -- AmpliTech Group, Inc. (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, today announced an expanded slate of business development activities for 2022, including its participation at the following industry conferences:
- American Physical Society APS March Meeting 2022 - March 14-18 in Chicago, IL – Booth 400. AmpliTech will highlight its proprietary and unique Low Noise Amplifier solutions designed for Quantum computing applications.
- Satellite 2022 - March 22-24 in Washington, DC Booth 211, AmpliTech will highlight its broad range of Satellite Communication products, integrated systems, block down converters, protection switch panels, redundant LNA controllers/plates, passive microwave components, RF subsystems and other specialized electronic assemblies.
- International Microwave Symposium IMS - 2022 - June 21-23 in Denver, CO – AmpliTech, a Gold level sponsor of IMS 2022, booth 3036, plans to debut its full 5G system at IMS 2022. The system utilizes the Company’s proprietary Low Noise Amplifier technology to create a cost-effective solution that achieves true 5G data transmission at speeds of up to 1 Gb/s and can be used to retrofit existing cell towers.
AmpliTech management is reserving a few time slots at each conference to meet with interested investors. Please contact the IR representatives listed below to schedule a meeting.
AmpliTech CEO, Fawad Maqbool, commented, “AmpliTech entered 2022 with a backlog of
“We are increasing the pace and reach of our sales and marketing activity across key market verticals to introduce our expanding base of technology solutions, with particular emphasis on our first-ever line of low noise amplifier (LNA) MMIC chipsets. We have taken our proprietary LNA designs and translated them into semiconductor chip designs that enable greater scalability, performance and lower power consumption. We have begun to introduce this break-through product line to a few large customers and have confirmed our participation at three specialty conferences in the first half of 2022 to widen our market reach. We expect to add additional events as the year progresses.
“In early December we participated at the AOC conference, a leading gathering of defense industry specialists in Washington, DC, where the high performance of our LNA MMICs attracted very strong interest. AmpliTech’s LNA MMICs will deliver low noise amplification performance that far exceeds currently available solutions across a range of high and low frequencies, with a substantially smaller chipset form factor and far lower power requirements. Given the very compelling return on investment these chips can provide, we attracted 47 customer meetings over two days. We met with senior decision makers in the U.S. military and a range of procurement managers and engineers with major defense and aerospace contractors, all of whom expressed interest in our MMIC offerings.
“We have completed our first trial MMIC silicon wafer run which achieved an
About AmpliTech (www.AmpliTechinc.com)
AmpliTech Group, Inc. designs, develops, manufactures and distributes state-of-the-art radio frequency (RF) microwave components for global satellite communications, telecom (5G & IoT), space, defense, and quantum computing markets as well as systems and component design consulting services. In December 2021, AmpliTech completed the purchase of the assets and operations of Spectrum Semiconductor Materials Inc. a global specialty distributor of semiconductor components based in San Jose, CA. AmpliTech has a 13+ year track record of developing high performance, custom solutions to meet the unique needs of some of the largest companies in the global industries we serve. We are proud of the unique skills, experience and dedication of our focused team which enables us to deliver superior solutions, faster time to market, competitive pricing and excellent customer satisfaction and repeat business.
Safe Harbor Statement
This release contains statements that constitute forward-looking statements. These statements appear in several 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 ability to execute its business plan as anticipated; (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 because of various factors. Other risks are identified and described in more detail in the “Risk Factors” section of the Company’s filings with the SEC, all of which are available on our website. We undertake no obligation to update, and we do not have a policy of updating or revising, these forward-looking statements, except as required by applicable law.
Non-GAAP Financial Information
This press release includes a statement relating to the Company’s order backlog. Backlog represents the dollar amount of net sales that we expect to recognize in the future from sales orders that have been received from customers in the ordinary course of business. The Company considers order backlog a relevant and preferred supplemental measure for understanding the Company’s financial and market position. However, such measure has inherent limitations, is not required to be uniformly applied or audited and other companies may use methodologies to calculate similar measures that are not comparable. Readers should be aware of these limitations and should be cautious as to their use of such measure.
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| Company Contact: | Investor Relations Contact: |
| Shan Sawant | David Collins or Bill Jones |
| Director of Communications | Investor Relations |
| AmpliTech Group, Inc. | Catalyst IR |
| shan@AmpliTech.com | AMPG@catalyst-ir.com |
| 646-546-7128 | 212-924-9800 |
FAQ
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