AmpliTech Group Inc. Announces Fiscal Second Quarter

BOHEMIA, NY--(Marketwired - Aug 15, 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 its Fiscal Second Quarter. The Company produced record revenues of $504,656, and generated EBIT of about $160,000, a nearly 8-fold increase over the same quarter of 2015, substantially growing its available cash and flexibility for business development.

CEO Fawad Maqbool commented, "In 2015 we set our sights on growing revenues and expanding our backlog atop those revenues, producing sustainable growth for years to come. Our investments into our facilities have supported this growth, manifesting just this quarter, where we produced record revenues and most importantly, generating free cash flow. This is a very exciting time for Amplitech, as the global RF equipment market continues to grow, and we expand our presence in this immense market. Our marketing and sales effort is just beginning, and is helping shape what should be a big year, supporting an important effort to bring new products to market that can greatly expand our reach, globally."

Concluded Maqbool, "Amplitech has begun to exercise on our business plan for the future, and we foresee 2016 being a very successful year, where we hope to grow our revenues by over 50% over 2015, while having a healthy balance sheet and active R&D program, and launching new and bold products in 2017, to take our program to the very next level. Producing over $500,000 in revenues this quarter is rewarding, and we thank our customers for their loyalty. We have lofty goals for fiscal quarters that greatly exceed what we delivered herein, and are eager to reward our shareholders for their own loyalty."

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. Click here to view AmpliTech video. Website: www.AmpliTechInc.com
Twitter: @AmpliTechAMPG

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.