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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 $2.2 million at the end of the first quarter of this fiscal year. This is a record backlog for the company early in the year.
AMPG Bookings Rise to $2.2 Million
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 $11 million capital raise in February. With the funds necessary to build and grow the company's disruptive technology base, it is well positioned to generate increased revenues from the rapidly emerging technology market sectors it is targeting.
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
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.