NEW YORK, Aug. 18, 2015 /PRNewswire/ -- AmpliTech Group, Inc. (OTCQB: AMPG) filed their 10-Q for the second quarter of 2015. CEO Fawad Maqbool stated, "AmpliTech Group is proud to announce that it has maintained its profitability into the second quarter of 2015. We have been working on expanding product lines and increasing our business revenues by joint venturing with other OEMs in this technology space. We have entered into re-selling and private labeling agreements with other companies that offer increased marketing and distribution channels which gives us two key benefits: 1) increased sales, and 2) expanded new product lines to address a broader base of customers. In addition to that, we are continuing our efforts to develop new products with our internal R&D, in the wireless infrastructure arena which will lead to more sales and profitability in the near future. Our profit has remained consistent since we chose to put much of it into R&D, hiring engineering personnel, and expanding our marketing efforts with a successful trade show in Phoenix. We have also increased online and print advertising which we believe will lead to more revenue as well." Below are some key highlights for the first half of 2015:
- Revenue for first half of 2015 (ending 6/30/2015) increased by 13% compared to same period last year
- Corresponding increase in gross profit of 23% compared to same period last year
- Interest expense down from last year by 84% or $106,759 due to elimination of debt
- EBITDA of $129,302 for AmpliTech, Inc, the wholly owned subsidiary of AMPG
- Consolidated EBITDA of $74,330 for AMPG
- Book to Bill Ratio of 1.2
- Reduction of liabilities by approximately $60,000 from 12/31/2014
Mr. Maqbool added, "We are still in the process of evaluating the most favorable investment options from private investors and funds to boost our growth rate and overall valuation."
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.
Contact: Fawad Maqbool, CEO,AmpliTech Group, Inc. +1-631-521-7831
SOURCE AmpliTech Group, Inc.