BOHEMIA, NY--(Marketwired - Nov 10, 2016) - AmpliTech Group Inc. (OTCQB: AMPG), a leader in state-of-the-art RF Low Noise Amplifiers (LNA) and Power Amplifiers (PA) for the Domestic and International, SATCOM, Space, and Military markets, today announced the signing of an exclusive national distribution agreement with a major microwave and wireless component distributor to stock and market AmpliTech's state-of-the-art room temperature and cryogenic low noise amplifiers.
CEO Fawad Maqbool commented, "We are extremely excited about our distinguished distribution partner, and it is just one of the methods of following our continuing goal of increasing sales and profit by adding sales channels and cross-marketing platforms. The end result is a demand that is created for our high performance products which will now receive a much higher level of exposure with key Fortune 500 OEM's in commercial, space and wireless markets. Since our world-class distributor stocks all types of high quality microwave products, it has a lead-in to the large OEM's that will now be able to take advantage of our high performance products as well, thereby boosting sales and creating additional demand."
The distributor stated that many LNAs will be needed as there is a large pipeline of existing customers that have already requested new LNAs for this year and next year. The distribution agreement is expected to bring in significant revenue for next year. The cryogenic LNAs have long been a staple product for AmpliTech and they are used in nanophysics accelerators, radio astronomy, microbiology, quantum optics, and communication systems. In addition to the cryogenic LNAs, the distributor will also stock AmpliTech's standard popular LNAs to facilitate quick access to our technology directly from their website.
Mr. Maqbool further commented, "The distributor is well established and the synergy of products is well suited for combined growth and elevates our marketing efforts to a higher level. The stocked parts will allow our existing customers to easily obtain parts from stock thus eliminating delivery issues and promoting more business. Below are some key highlights of our recent advances in strategic planning:"
- Record revenue and net profit of ~30% for 2Q and 3Q 2016. Exceptional performance expected for 4Q as well.
- IMS 2016 and EDICON 2016 trade shows were a success yielding additional bookings in excess of $500K and counting
- National distribution agreement resulted from attending the EDICON 2016 trade show
- Joint venture and re-selling partners established to increase sales and marketing efforts which led to expanded product lines and increased revenue
- R&D efforts will lead to high margin product lines next year further supplementing revenue
- OTC Markets forum led to new B2B platform targets and interest in company technology
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, 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 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.
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