AmpliTech Group, Inc. (NASDAQ: AMPG) saw gains in its stock Thursday, on fourth-quarter and year-end results.
The company, 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, revealed Q4’21 revenue rose 206% to a record $2,721,452 vs. $890,702 in Q4’20. It was also found that 2021 revenue rose 53% to a record $5,275,434 vs. $3,458,081 in 2020.
eliminating the distortion or “noise” that can degrade or destroy digital signals.
Year-end cash and equivalents were $18 million ($1.87 per share), providing financial strength to support long-term growth and to engage with large global customers.
The company also launched its AmpliTech Group MMIC chip Design Center (AGMDC) in Plano, TX, led by a team of highly experienced radio frequency (RF) chip design engineers. Completed production of initial MMICs for customer sampling in Q1’21. The Company expects production units to be available for commercial sale by the end of Q2’22.
CEO Fawad Maqbool commented, “AmpliTech made substantial strides in 2021 positioning our company and industry leading technologies for significant growth. It is exciting to see our efforts being realized in solid Q4’21 revenue growth and further momentum in Q1’22.”
AmpliTech is a world-leading developer and U.S. manufacturer of Low Noise Amplifier (LNA) components that increase the power of a radio signal while eliminating the distortion or “noise” that can degrade or destroy digital signals.
AMPG shares began Thursday picked up 12 cents, or 3.7%, to $3.36.
