AmpliTech Group, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 14, 2022 at 09:01 am EST
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AmpliTech Group, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 5.44 million compared to USD 1.06 million a year ago. Net income was USD 0.576916 million compared to net loss of USD 0.592845 million a year ago. Basic earnings per share from continuing operations was USD 0.06 compared to basic loss per share from continuing operations of USD 0.06 a year ago. Diluted earnings per share from continuing operations was USD 0.06 compared to diluted loss per share from continuing operations of USD 0.06 a year ago.
For the nine months, sales was USD 15.12 million compared to USD 2.55 million a year ago. Net income was USD 0.211001 million compared to net loss of USD 1.95 million a year ago. Basic earnings per share from continuing operations was USD 0.02 compared to basic loss per share from continuing operations of USD 0.25 a year ago. Diluted earnings per share from continuing operations was USD 0.02 compared to diluted loss per share from continuing operations of USD 0.25 a year ago.
AmpliTech Group, Inc. is engaged in designing, engineering, and assembling micro-wave component-based amplifiers. Its divisions include Specialty Microwave, Spectrum Semiconductor Materials, AmpliTech Group MMIC Design Center (AGMDC) and AmpliTech Group True G Speed Services (AGTGSS). Its products consist of radio frequency (RF) amplifiers and related subsystems, operating at multiple frequencies from 50 kilohertz (kHz) to 44 gigahertz (GHz), and custom assembly designs for the global satellite communications, telecom (5G & IoT), space, defense, and quantum computing markets. Its Specialty Microwave division designs and manufactures satellite communication (SATCOM) microwave components, RF subsystems and specialized electronic assemblies for the military and commercial markets and more. AGMDC designs, develops and manufactures signal processing components for satellites. AGTGSS division provides managed services, cybersecurity, cloud services, data sciences and telco cloud services.