AmpliTech Group Receives Over $700,000 In Cash From Single Products Sale At Their Spectrum Division
Rhea-AI Summary
AmpliTech Group (Nasdaq: AMPG) has reported significant financial developments in September 2024. The company's Spectrum Semiconductor Materials Division received a single cash payment exceeding $700,000 for an end-of-August sale. Additionally, AmpliTech's bookings for September have surpassed $1 million, attributed to increased quoting activity since the start of Q3 2024.
The company's AGTGSS Division has also contributed to sales with a hardware-only transaction from their private 5G product portfolio. AmpliTech is actively involved in full end-to-end 5G deployment opportunities and anticipates announcing more projects before year-end. CEO Maqbool expressed optimism about the company's marketing efforts yielding results and improving their cash position.
Positive
- Received a single cash payment exceeding $700,000 from a sale at the Spectrum Semiconductor Materials Division
- September bookings surpassed $1 million, indicating strong sales momentum
- Increased quoting activity experienced since the start of Q3 2024
- AGTGSS Division made its initial contribution to sales with a hardware-only sale from their private 5G portfolio
- Active participation in full end-to-end 5G deployment opportunities
Negative
- None.
News Market Reaction – AMPG
On the day this news was published, AMPG gained 4.58%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
September Bookings To Date Also Surpassed
HAUPPAUGE, N.Y., Sept. 19, 2024 (GLOBE NEWSWIRE) -- AmpliTech Group, Inc. (Nasdaq: AMPG, AMPGW), a designer, developer, and manufacturer of state-of-the-art signal processing components for satellite, Public and Private 5G, and other communications networks, including the design of complete 5G/6G systems and a global distributor of packages and lids for integrated circuits assembly, today announced receipt of the single cash payment, in excess of
AmpliTech Group is very pleased to see the level of activity in bookings and cash receipts being achieved quarter to date. As recently announced, the company also reported its AGTGSS Division initial contribution to sales for the year with an exciting hardware only sale of some of their private 5G portfolio of products. The company is actively participating in full end-to-end 5G deployment opportunities and believes to be announcing additional exciting projects before the end of the year.
"We're excited to report that our bookings this month have also exceeded the
About AmpliTech Group
AmpliTech Group, Inc., comprising five divisions—AmpliTech Inc., Specialty Microwave, Spectrum Semiconductors Materials, AmpliTech Group Microwave Design Center, and AmpliTech Group True G Speed Services—is a leading designer, developer, manufacturer, and distributor of cutting-edge radio frequency (RF) microwave components and 5G network solutions. Serving global markets including satellite communications, telecommunications (5G & IoT), space exploration, defense, and quantum computing, AmpliTech Group is committed to advancing technology and innovation. For more information, please visit www.amplitechgroup.com.
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, that this company participation in several Private 5G deployment opportunities will lead to immediate or near future orders and to further penetrate Public and Private 5G markets. 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.
Contacts:
Corporate Social Media
Twitter: @AmpliTechAMPG
Instagram: @AmpliTechAMPG
Facebook: AmpliTechInc
Linked In: AmpliTech Group Inc
Investor Social Media
Twitter: @AMPG_IR
StockTwits: @AMPG_IR
Company Contact:
Jorge Flores
Tel: 631-521-7831
Investors@amplitechgroup.com
FAQ
What was the value of the single cash payment received by AmpliTech Group (AMPG) in September 2024?
How much did AmpliTech Group's (AMPG) bookings reach in September 2024?
What recent development was reported for AmpliTech Group's (AMPG) AGTGSS Division?
What future announcements does AmpliTech Group (AMPG) anticipate making before the end of 2024?
