Business
AmpliTech Group Receives Over $700,000 In Cash From Single Products Sale At Their Spectrum Division
September Bookings To Date Also Surpassed $1 Million Mark HAUPPAUGE, N.Y., Sept. 19, 2024 (GLOBE NEWSWIRE) -- AmpliTech Group, Inc. (Nasdaq: AMPG, AMPGW), a
About this update from Amplitech Group, Inc.
[{"type":"text","content":"September Bookings To Date Also Surpassed $1 Million Mark\nHAUPPAUGE, 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 $700K, for the reported end of August single sale transaction by its Spectrum Semiconductor Materials Division, this, while AmpliTech Group also surpassing bookings in excess of $1M in the timeframe of September to date, once again as result of increased quoting activity experienced since the start of Q3 2024. 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 $1 million mark again, which coupled with the cash collection payment in excess of $700K obtained by our Spectrum Semiconductor Materials Division this week, give us very positive indicators about our marketing efforts yielding results while also enhancing our current cash position in the company”, said Mr. Maqbool, CEO/CTO of AmpliTech Group. About AmpliTech GroupAmpliTech 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.amplitec...