Orbit International's Power Group Receives New Order Totaling in Excess of $1,870,000
Hauppauge, New York, November 18, 2015 -- Orbit International Corp. (PINKSHEETS:ORBT), an electronics manufacturer and software solutions provider, today announced that its Power Group, through its Behlman Electronics, Inc. subsidiary (“Behlman”), has received a new order for a power supply valued in excess of $1,870,000 for its COTS division.
The order is for production of a COTS power supply that is part of an armament test system program for which Behlman received its initial qualification order in April 2013. Deliveries are scheduled to commence in the third quarter of 2016 and continue through the first quarter of 2017. Furthermore, this is an initial production order and based on information from its customer, Behlman anticipates additional orders for follow-on production.
Ron Storm, President of Behlman commented, “This order represents a new production award from a large prime contractor for the use of our COTS power supply on an armament test system. Despite challenging economic conditions, Behlman’s business from its COTS division remains strong with activity for both new and repeat orders for its products. This production award is the culmination of the great effort put forth by our engineering, design and manufacturing team here at Behlman.”
Mitchell Binder, President and CEO of Orbit International commented, “This award represents the largest order received by our Power Group in 2015 with follow-on orders expected over the next few years. Furthermore, our Electronics Group recently received two separate prototype awards; one for a new switch panel for the U.S. Navy and the other for a display on a significant aviation program. We expect an initial production award for the switch panel in the first quarter of 2016 with expected follow-on awards in future periods.”
Orbit International Corp., through its Electronics Group, is involved in the manufacture of customized electronic components and subsystems for military and nonmilitary government applications through its production facility in Hauppauge, New York. Orbit’s Power Group, also located in Hauppauge, NY, designs and manufactures a wide array of power products including AC power supplies, frequency converters, inverters, uninterruptible power supplies, VME/VPX power supplies as well as various COTS power sources. The Company also has a sales office in Newbury Park, CA and a facility in Louisville, KY dedicated to the design and manufacture of gun weapons systems as well as VME/VPX solutions including backplanes, health monitors, air transport racks and components.
Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company including, statements regarding our expectations of Orbit’s operating plans, deliveries under contracts and strategies generally; statements regarding our expectations of the performance of our business; expectations regarding costs and revenues, future operating results, additional orders, future business opportunities and continued growth, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although Orbit believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.
Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond Orbit International's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact Orbit International and the statements contained in this news release can be found in Orbit's reports posted with the OTC Disclosure and News service as well as Orbit’s prior filings with the Securities and Exchange Commission including quarterly reports on Form 10-Q, current reports on Form 8-K, annual reports on Form 10-K and its other periodic reports. For forward-looking statements in this news release, Orbit claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Orbit assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.
"Strive for perfection in everything you do. Take the best that exists and make it better. When it does not exist, design it."