AmpliTech Updates its Q4 2016 Financial Report

AmpliTech has announced an update to its financial report for the 2016 fiscal year preceding a 10Q filing next month. The Company reports fourth quarter revenue of $664,000 with a net income of 39%, or $ 259,000. It included a YOY growth to 40% and YOY net income increase by 300%.

The Company is working on new products to expand its offering to cover the Defense and Aerospace markets as well as various commercial markets and thus increase its revenues in 2017. AMPG has close to $1 million dollars of bookings currently and plans to expand its technical and marketing base to generate more revenue from new customers.

The company also feels that the new political environment will be beneficial for them since they are an approved supplier to many international Aerospace and Defense contractors as well as the US and other government organizations.

Key Highlights of the Report:

  • Record revenue and net profit of 39% for 4Q 2016
  • Record revenue and net profit for FY 2016. Net Income of 28% on revenue of $ 2.039 million
  • YOY revenue growth of 40%. YOY net income growth of 300%
  • New facility has increased efficiency and productivity

Sources of Increased Revenue Generation in 2017:

  • Development of LNAs for Airline Wi-Fi systems
  • Strategic re-selling and cross-selling platforms with new parties
  • New nationwide distribution partner
  • Development of new high power amplifiers (HPA) targeted for commercial and military markets
  • Expanded marketing venues, i.e. increased surgical advertising, trade shows, and direct marketing
  • Pursuing a GSA government award to reach as many as 800 government agencies
  • Development of line of mainstream wireless consumer products
  • New orders with large OEMs like Boeing, ViaSat and Cobham Defense Systems, among others
  • Development of new products other than amplifiers to increase product offerings and revenue