Amplitech Group Inc (AMPG)

[Eurotradr]

AmpliTech Achieves Record Bookings Milestone
GlobeNewswire•September 19, 2018

Bohemia, NY, Sept. 19, 2018 (GLOBE NEWSWIRE) -- AmpliTech Group Inc., (OTCQB-AMPG) announced today that the company has reached 2 million dollars in sales backlog as of mid-September, a record milestone. Since profit margins are up by an average of nearly 20% over last year based on basic job-costing analysis, annual financial reports are expected to show increases in revenue. “The $500,000 in bookings since our last press release on August 3rd is better than anticipated,” said CFO Louisa Sanfratello. “Combined with positive sales projections for the final quarter, this bodes very well for the overall fiscal year,” she added.

AmpliTech has taken many steps to position itself for profitability and sustainable growth, not the least of which is a significant investment in Information Technology and software aimed at streamlining internal processes while identifying sources of unnecessary cost and expense. Production staff has also been augmented to better meet increased demand and marketing personnel are constantly striving to achieve growth via careful strategic marketing efforts aligned with the company’s goals.

CEO Fawad Maqbool is confident that the company is moving forward in accordance with the improvements outlined at the end of last quarter. He stated, “AmpliTech has been aggressive in maintaining steady growth and has been proactive in meeting the demands that come with that growth. We continue to target emerging technologies and position our R&D to develop new products that are aligned with this expansion and capitalize on this trend.” The Company expects to continue its bookings trend into next year by converting the bookings into sales in a timely fashion.

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, 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 15+ years has come about because we can provide complex, custom solutions for nearly ANY custom requirements that are presented to us. In addition, we have the best assemblers, wires, and technicians in the industry and can provide contract assembly of customers' own designs. Click here to view AmpliTech video. Website: http://www.AmpliTechinc.com