Benzinga | Oct 28, 2021 09:16AM EDT

AmpliTech Group Reports Secured $1.2M In New Orders For Low-Noise Amplifier Technology For Defense/Aerospace, Defense/Commercial Customers; Backlog At $3.4M

AmpliTech Group, Inc. (NASDAQ:AMPG), a designer, developer, and manufacturer of state-of-the-art signal-processing components for satellite and 5G communications networks, defense, space, and other commercial applications, announced today that it has been awarded $1.2M of new orders for Low Noise Amplifier (LNA) technology from a Fortune 500 global defense and aerospace company and defense aerospace, naval and commercial aerospace applications provider. The orders, which increase AmpliTech's order backlog to a record $3.4M as of today's date, are expected to ship in calendar 2022. AmpliTech's revenue for the past four quarters was $3.5M.

Fawad Maqbool, CEO, commented, "AmpliTech's industry-leading LNA technology increases the power of a radio signal while eliminating the distortion or "noise" that can degrade or destroy digital signals. Our LNA technology delivers substantial performance and bandwidth improvements in satellite communications and can play an instrumental role in achieving true gigabit data transmission speeds for next generation 5G networks on a more cost-effective basis.

"Our growing order backlog confirms the strength of our LNA technology and reflects initial benefits of investments we are making to expand our sales and marketing reach and production and technical capabilities. We are proud that the performance, quality, and return on investment of our solutions is being acknowledged with growing demand from global leaders.

"Following our financial recapitalization earlier this year, we have been making focused investments in advanced testing capabilities, new product development, including our recently announced MMIC Semiconductor Chip Design Center and the addition of key management and operations, sales and marketing personnel. We now have the financial and personnel resources to target major OEMs as well as system integrators, to substantially expand AmpliTech's addressable market. Our financial strength is allowing AmpliTech to engage, for the first time, with a range of very large customer prospects that were previously out of our reach. These opportunities range across satellite communications, the build out of true 5G infrastructure, quantum computing, space exploration and other areas."