AmpliTech Group Achieves Record Monthly Purchase Orders of $2M in January
February 03, 2022 09:05 ET | Source: Amplitech Group Inc.
Bohemia, NY, Feb. 03, 2022 (GLOBE NEWSWIRE) -- AmpliTech Group, Inc. (Nasdaq: AMPG), a designer, developer, and manufacturer of state-of-the-art signal-processing components for satellite, 5G, and other communications networks and a worldwide distributor of packages and lids for integrated circuit assembly, announced today that it has received $2M in new purchase orders during the month of January, a record for the Company. These new sales add to what is already a record backlog for AmpliTech.
Approximately $1.4M of the new orders represents new customer wins as well as follow-on orders for AmpliTech’s industry-leading Low Noise signal Amplifier (LNA) technology. Customers include a Fortune 500 global defense and aerospace company and a leading satellite communications provider. The new purchase orders also include approximately $0.6M in orders from the Company’s Spectrum Semiconductor Materials business acquired in December 2021.
Fawad Maqbool, CEO, commented, “AmpliTech’s strong start to 2022 substantiates the need for the high levels of performance delivered by our industry-leading LNA technology. Our imminent move to a newly expanded HQ facility on Long Island will enable us to fulfill these orders with greater efficiency and expand our product offering.
“As we mentioned in our recent Little Grapevine video discussion, the execution of our growth strategy is progressing on plan. We have hired key business development and operations staff, invested in leading test equipment to support our production and development efforts and completed the launch of our AmpliTech Group MMIC Design Center (AGMDC) in Plano, Texas. We are focused on driving increasing order activity for our current product offerings over the balance of the year and also anticipate initial MMIC chip orders later this year from our AGMDC division”.
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.
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