Hauppauge, NY, June 15, 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 global distributor of packages and lids for integrated circuit assembly, today announced that it will host an investor update call on Thursday, June 16th at 1:00 p.m. ET to review the progress of its growth initiatives and answer investor questions.
Dial-in details are provided below.
AmpliTech Highlights and Outlook
- Q1’22 revenue rose 978.2% to a record $5,099,520 in Q1’22 vs. $472,974 in Q1’21
- Q1’22 revenue of $5,099,520 nearly matched full year 2021 revenue of $5,275,434
- Q1’ 22 gross profit improved to $2,323,598 (45.6% gross profit margin) from Q1’ 21 gross profit $54,981 (11.6% gross profit margin). Core LNA revenue doubled year over year from $472K in Q1’21 to $1.07M in Q1’22
- Positive EBITDA of $140,169 achieved during Q1’22.
- Achieved net income in Q1’22 of $3,625 vs. Q1’21 net loss of $879,931
- As of the end of Q1 2022, cash and equivalents were $16.0M, giving AmpliTech ample capital to finance its long-term growth initiatives.
Investor Call Details
Date/Time : Thursday, June 16th at 1:00 pm ET
Dial-in Number : 1-877-270-2148 (domestic) or 1-412-902-6510 (international)
Online Replay/Transcript : Audio file and call transcript will be posted to AmpliTech’s investor relations page when available.
Investor Questions : May be submitted to shan@amplitechgroup.com prior to or during the call.
About AmpliTech Group
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. 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 for repeat business.
Safe Harbor Statement
This release contains statements that constitute forward-looking statements. These statements appear in several 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 with respect to, among other things: (i) the Company's ability to execute its business plan as anticipated; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy. 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 because of various factors. Other risks are identified and described in more detail in the “Risk Factors” section of the Company’s filings with the SEC, which are available on our website. We undertake no obligation to update, and we do not have a policy of updating or revising, these forward-looking statements, except as required by applicable law.
Non-GAAP Financial Information
This press release includes a statement relating to the Company’s order EBITDA. EBITDA represents the company’s earnings before interest, taxes, depreciation, and amortization. The Company considers EBITDA a relevant and preferred supplemental measure for understanding the Company’s financial performance. However, such measures have inherent limitations, are not required to be uniformly applied or audited and other companies may use methodologies to calculate similar measures that are not comparable. Readers should be aware of these limitations and should be cautious as to their use of such measures.
Corporate Social Media
Twitter: @AmpliTechAMPG
Instagram: @AmpliTechAMPG
Facebook: AmpliTechInc
Investor Social Media
Twitter: @AMPG_IR
StockTwits: @AMPG_IR
Company Contact:
Shan Sawant, Director of Communications
AmpliTech Group, Inc.
shan@amplitech.com
646-546-7128
