AmpliTech has announced another quarter of profitability for 2015. The filings for the third quarter of 2015 revealed positive results for the AmpliTech Group. The company has not issued any additional shares or convertible debt and has obtained favorable financing to expand operations and increase our product offerings as mentioned in previous releases.
According to company CEO, Mr. Maqbool, the company was a little behind schedule from what they expected to achieve in terms of bookings and revenues as they are in the process of moving to a bigger facility to better serve our customers and improve efficiency of operations. However, he expects to improve results for the last quarter of 2015 since AmpliTech is negotiating to at least double the bookings through the same period last year and expect to immediately convert some of that to revenue for this year.
Some highlights illustrating AmpliTech’s progress:
- Revenue through the third quarter of 2015 increased by 16% compared to same period last year.
- Income from operations for the nine months ended in September 30, 2015 was approximately $ 83,000 compared to a loss from operation of $ 56,000 for the same period last year; an increase of over $ 138,000
- Interest expense decreased by $ 142,000 primarily due to the elimination of convertible debt in 2014
- EBITDA was $ 170,193 for AmpliTech, Inc, the wholly owned subsidiary of AMPG through September 2015 - Consolidated EBITDA was $ 103,118 for AMPG
- AMPG is revising its website and catalog for the upcoming year to better illustrate all its new capabilities
- Expect to generate additional revenue early next year from our new products that are currently under development.
