Amplitech Group Inc OTCMKTS: AMPG 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
On September 19th, 2018 the company announced 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.
Finally March 21st, 2019 Amplitech Group Inc reported a record revenue of $2.4 million. The Company succeeded in converting its record backlog, reported in 2018, into record sales. Below are some highlights:
· Revenue increased by $1,016,675 compared to FY2017; an increase of 73%
· Income from Operations increased by $431,520 compared to 2017
· Gross Profit Margin was 58% in 2018, up from 53% in 2017
CFO, Louisa Sanfratello stated, “We continue to focus our efforts on delivering high quality products and services to our customers and are continually striving to achieve our long-term goal for controlled growth.”
CEO, Fawad Maqbool elaborated on the reasons for AmpliTech’s success in 2018: “AmpliTech has aligned itself with rapidly growing market sectors like Telecom and Satcom. Our R&D in 2017 and 2018 focused on developing high performance products for Wi-Fi in the airlines and high-speed satellite internet gateways that have now become designed-in as standard products by new industry-leading customers. We have had similar success in other sectors of the RF/Microwave market, so we hope our growth will continue in 2019.”
AmpliTech has added to its customer base and has seen an increase in demand for its legacy products in the Defense and Military sector as well. Below are some key reasons for AMPG’s performance in 2018 vs. 2017:
· New products with higher gross margins and ASP
· Addition of channel partners to increase throughput and volume via shared resources
· Enhanced distribution and sales network
Looking ahead to 2019, AMPG has a brighter outlook than 2018 for the following reasons:
· New base of designed-in products with key new customers
· Repeat orders expected for improved performance products for both legacy and new customers
· Representative and distribution network should yield more leads and sales
· Plan to re-structure management and Board to attract investment
· Secured $350K debt financing towards enhancing infrastructure and following growth initiative
We believe that AMPG remains poised to capture the business from rapidly emerging technologies, employing its unique proprietary technology and experience to offer innovative solutions for global communications. Their products are designed into wireless, quantum, satellite, radar, and many commercial applications already and AMPG plans to continually increase its footprint in these very large markets.