New York, Dec. 19, 2013 (GLOBE NEWSWIRE) -- AmpliTech Group, Inc. (OTC QB: AMPG) ("AmpliTech" or the "Company"), a trusted provider of RF/microwave, microelectronic, MMIC, and low noise amplifiers for critical and high-reliability, wireless and commercial applications announced in October that due to a high demand for its custom designed products, booked orders had reached record levels. Based on its progress fulfilling these orders, the Company currently is projecting the annual 2013 revenue to be an approximate increase of 20% from last year. Fawad Maqbool, Amplitech CEO stated, "I am excited to announce to our shareholders we are on pace to exceed any prior year's revenue."
He further stated, "I credit this to the highly successful trade show we attended in June, where we booked over $500k in new purchase orders, including those related to the F-16 fighter and UAV drone programs. We are planning to attend additional trade shows again in 2014 and possibly sponsor the shows as we have done in past years. We also plan to have new products showcased at the upcoming shows as well."
About AmpliTech Group Inc.
AmpliTech Group, Inc. designs, develops, and manufactures custom and standard state-of-the-art RF components for the International Commercial, 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 10+ 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. Website: http://www.amplitechinc.com
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This release contains statements that constitute forward-looking statements. These statements appear in a number of 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: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy. 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 as a result of various factors.