AMPG Announces First Quarter Results of 2018

Bohemia, NY. , May 24, 2018 (GLOBE NEWSWIRE) -- AmpliTech Inc. (OTCQB:AMPG)The company reported first quarter revenue of $428,541 with a net profit of $42,770, a 27% increase in comparison to the same period last year. The overall “dip” last year was largely attributed to a generally slow global market for the RF/Microwave industry as well as to the commitment of more resources by the company to the expansion of marketing vistas and the development of new products.  As such, the significant increase in profit is a positive sign of consequent growth. CFO Louisa Sanfratello states “we are very pleased with the results of the first quarter of 2018.  We have developed leading edge performance products in various sectors which has been instrumental to our success this quarter and to our $1.2M and growing backlog. In addition, AMPG recently received a $220,000 order and we anticipate much more of the same.”  AMPG is seeing an increase in orders in our cryogenic LNA’s and other products for commercial, wireless, cellular, military and even medical applications.

Furthermore, the addition of Charlie Weinhofer as Director of Global Sales gives AmpliTech a solid foundation for growth as Mr. Weinhofer’s over 25 years of marketing and management experience along with his many industry contacts will undoubtedly lead to more business and higher profits.  This is but one example of how AMPG is continually expanding our team with the best candidates in the business as our product lines continue to expand.

Finally, we are excited to announce our exhibition at the annual 2018 International Microwave Symposium in Philadelphia, PA, June 12-14, 2018.  The event will provide maximum visibility for our products and services.

 About Amplitech Group, Inc:

AmpliTech Group, Inc. designs, develops, and manufactures custom and standard state-of-the-art RF (Low Noise Amplifiers (LNA) and Power Amplifiers (PA) for the Domestic and International, SATCOMSpace, 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. Click here to view AmpliTech video. Website: Contact us via Twitter (@AmpliTechAMPG) or Facebook (AmpliTech Inc.)

Safe Harbor Statement:

With the exception of historical information contained in this press release, content herein may contain "forward looking statements" that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that forward looking statements involve risks and uncertainties that could cause actual results to differ materially from the statements made. Matters that may cause actual results to differ materially from those in the forward-looking statements include, among other factors, the gain or loss of a major customer, change in environmental regulations, disruption in supply of materials, a significant change in general economic conditions in any of the regions where our customer utilities might experience significant changes in electric demand, a significant disruption in the supply of coal to our customer units, the loss of key management personnel, failure to obtain adequate working capital to execute the business plan and any major litigation regarding the Company. In addition, this release contains time-sensitive information that reflects management's best analysis only as of the date of this release. The Company does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release. Further information concerning issues that could materially affect financial performance related to forward-looking statements contained in this release can be found in the Company's periodic filings with the Securities and Exchange Commission.


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