- Full Year Revenue of
$3,122,630 vs.$2,397,418 in 2018, an increase of 30.2%;
- Full Year Proforma Revenue of
$4,041,837 vs.$3,085,889 in 2018, an increase of 31.0% (this incorporates the acquisition of the assets ofSpecialty Microwave Corporation (SMW) onSeptember 12, 2019 , as if SMW had been part of AMPG sinceJanuary 1 , 2018);
- Full Year Adjusted EBITDA of
$506,231 vs.$414,849 in 2018, an increase of 22.0%;
- Cash and undrawn Credit Facilities as of
December 31, 2019 of$1,074,712 ($574,712 cash+$500,000 LOC) vs.$619,201 ($442,098 cash+$177,103 LOC) as ofDecember 31, 2018 ;
- 4Q Revenue of
$1,104,208 vs.$819,977 in 4Q 2018, an increase of 34.7%;
- 4Q Adjusted EBITDA of
$129,121 vs.$236,214 in same quarter 2018;
- Order Book as of
March 19, 2020 stands at$1,361,778 .
“2019 was a milestone year for our Company,” said
“As a result of the investments that we have made in 2019, our net profit margins and EBITDA margins will be affected in the short term, but we believe that, in the longer term, this will result in accelerated top line growth and expanded operating margins. With the acquisition of SMW’s assets and prudent use of its now shared resources and IP, AMPG is building its base of new higher margin products, as well as lowering the costs of its existing ‘bread and butter’ products. The goal is to increase both revenue and profitability in the coming quarters. However, for 2020, we are seeing some unexpected slow down in orders due to key contracts being held up and the uncertainty created by the coronavirus, and, as such, we are not able to provide any guidance for the first half of 2020.”
About
Forward-looking Statements
This release contains statements that constitute forward-looking statements. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company's financing plans; (ii) trends affecting the Company's financial condition or results of operations; (iii) the Company's growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
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Source:
2020 GlobeNewswire, Inc., source