AmpliTech Achieves Record Bookings Milestone
AmpliTech Group Incorporated, (OTCQB ticker symbol AMPG) announced today that the company has reached 2 million dollars in sales backlog as of mid-September, a record milestone. Since profit margins are up by an average of nearly 20% over last year based on basic job-costing analysis, annual financial reports are expected to show increases in revenue. Quote, “The 500,000 dollars in bookings since our last press release on August 3rd is better than anticipated. Combined with positive sales projections for the final quarter, this bodes very well for the overall fiscal year,” end quote, said CFO Louisa Sanfratello..
AmpliTech has taken many steps to position itself for profitability and sustainable growth, not the least of which is a significant investment in Information Technology and software aimed at streamlining internal processes while identifying sources of unnecessary cost and expense. Production staff has also been augmented to better meet increased demand and marketing personnel are constantly striving to achieve growth via careful strategic marketing efforts aligned with the company’s goals.
CEO Fawad Maqbool is confident that the company is moving forward in accordance with the improvements outlined at the end of last quarter. He stated, quote, “AmpliTech has been aggressive in maintaining steady growth and has been proactive in meeting the demands that come with that growth. We continue to target emerging technologies and position our R&D to develop new products that are aligned with this expansion and capitalize on this trend.” End quote. The Company expects to continue its bookings trend into next year by converting the bookings into sales in a timely fashion.
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