Communications Components Provider AmpliTech Hosts Investor Call to Review Growth Strategy and Outlook Thursday, April 14th at 10am ET; Dial-in # 1-877-270-2148

Hauppauge, NY, April 12, 2022 (GLOBE NEWSWIRE) -- AmpliTech Group, Inc. (Nasdaq: AMPG), a designer, developer, and manufacturer of state-of-the-art signal-processing components for satellite, 5G, and other communications networks and a global distributor of packages and lids for integrated circuit assembly, today announced that it will host its inaugural investor update call on Thursday, April 14th at 10:00 a.m. ET to review the progress of its growth initiatives and answer investor questions.
Dial-in details are provided below.

AmpliTech Highlights and Outlook

• 2021 revenue rose 53% to a record $5,275,434.
• Cash and equivalents were $18.0M or $1.87 per share at year-end 2021.
• Q1’22 revenue is expected to increase to about $4.8M versus $0.5M in Q1’21, reflecting a full quarter’s benefit from the Spectrum Semiconductor operations, plus growth in low noise amplifier deliveries. AmpliTech expects a Q1’22 operating loss as it continues to invest in its MMIC and 5G growth initiatives and moves into a new and expanded headquarters and production facility.
• AmpliTech’s order backlog was $9.3M at the close of Q1’22, representing contractual hardware and engineering services anticipated for delivery over approximately six months.

About AmpliTech Group
AmpliTech Group, Inc. designs, develops, manufactures, and distributes state-of-the-art radio frequency (RF) microwave components for global satellite communications, telecom (5G & IoT), space, defense, and quantum computing markets, as well as systems and component design consulting services. In December 2021, AmpliTech completed the purchase of the assets and operations of Spectrum Semiconductor Materials Inc., a global specialty distributor of semiconductor components based in San Jose, CA. AmpliTech has a 13+ year track record of developing high-performance, custom solutions to meet the unique needs of some of the largest companies in the global industries we serve. We are proud of the unique skills, experience, and dedication of our focused team, which enables us to deliver superior solutions, faster time to market, competitive pricing, and excellent customer satisfaction for repeat business.

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: (i) the Company's ability to execute its business plan as anticipated; (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 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.

Non-GAAP Financial Information
This press release includes a statement relating to the Company’s order backlog. Backlog represents the dollar amount of net sales the Company expects to recognize in the future from sales orders that have been received from customers in the ordinary course of business. The Company considers order backlog a relevant and preferred supplemental measure for understanding its financial and market position. However, this measure has inherent limitations, is not required to be uniformly applied or audited and other companies may use non-comparable methodologies to calculate similar measures. Readers should be aware of these limitations and should be cautious as to their use of this measure.

Company Contact:                                                             
Shan Sawant, Director of Communications
AmpliTech Group, Inc.
shan@amplitech.com
646-546-7128

Investor Contact:
David Collins or William Jones
Catalyst IR
ampg@catalyst-ir.com
212-924-9800