NEW YORK, May 20, 2015 /PRNewswire/ -- AmpliTech Group, Inc. (OTC-QB: AMPG) filed their 10-Q for the first quarter of 2015. CEO Fawad Maqbool stated, "AmpliTech Group has been following a path towards reducing its debt and operating expenses as well as increasing its bookings and revenue. We have taken great strides towards our goals as stated in our previous press releases and I am pleased to report the highlights of those advances below."
- Net consolidated profit and EBITDA of $48,000 vs. net loss of $82,000 in 1Q 2014
- Increase in revenue by 7% vs. 1Q 2014's revenue
- Decrease in Cost of Goods (COGS) by 16%
- Increase in gross profit by 34%
- Minimal payables and no convertible or long term debt
- Reduction of interest expense
- Reduction of overall liabilities by 17%
Mr. Maqbool also stated, "It is evident that the company has 'turned the corner' as shown by its overall performance and growth this year. Our bookings have been increasing so we expect that we can sustain this performance with increased profitability for the rest of the year. We further anticipate that our new product development and planned joint ventures will also help to keep us on the path to growth and technical excellence."
About AmpliTech Group, Inc.
AmpliTech Group, Inc. designs, develops, and manufactures custom and standard state-of-the-art RF components 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: http://www.AmpliTechinc.com
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.
SOURCE AmpliTech Group, Inc.