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Orbit International’s Power Group Receives $458,000 Follow-on Order for Its COTS Division

Dépèche transmise le 23 août 2011 par Business Wire

Orbit International’s Power Group Receives $458,000 Follow-on Order for Its COTS Division

HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Orbit International Corp. (NASDAQ:ORBT), an electronics manufacturer and software solution provider, today announced that its Power Group, through its Behlman Electronics, Inc. subsidiary (“Behlman”), received a $458,000 follow-on order for a COTS power supply for a computer system used on a major missile defense system. Deliveries are expected to commence in the fourth quarter of 2011 and continue through the second quarter of 2012.

This COTS power supply is part of a system upgrade for an ongoing program for which Behlman received its initial order in July 2009. This follow-on order is Behlman’s second, bringing the total value of related orders to $1.6 million. Furthermore, Behlman's customer has the option to purchase additional units valued at up to $810,000 by June 2012.

Mark Tublisky, President of Behlman commented, “Behlman continues to see a significant amount of activity in both new requirements and follow-on programs at its COTS Division. Behlman’s commitment to providing its customers with a total solutions approach for their power needs is an important reason behind our continued sales growth. We expect Behlman to continue to see strong sales in the coming months due to an increase in demand for our COTS power solutions.”

Mitchell Binder, President and Chief Executive Officer of Orbit International commented, “In addition to increased business activity for Behlman’s modified COTS products, its Commercial Division’s year-to-date bookings are up more than 60% from the same period last year. Coming off record second quarter revenues, Behlman's business continues to be very strong and we believe that it should remain so through the remainder of this year and into 2012.”

Mr. Binder concluded, “Due, in part, to the strength of our Power Group, Orbit recorded excellent first half results and one of its best operating quarters in recent years. We continue to expect our operating results for the remaining quarters of 2011 to equal or exceed those of the first quarter, resulting in strong operating performance for our Company for 2011.”

Orbit International Corp. is involved in the manufacture of customized electronic components and subsystems for military and nonmilitary government applications through its production facilities in Hauppauge, New York, and Quakertown, Pennsylvania; and designs and manufactures combat systems and gun weapons systems, provides system integration and integrated logistics support and documentation control at its facilities in Louisville, Kentucky. Its Behlman Electronics, Inc. subsidiary manufactures and sells high quality commercial power units, AC power sources, frequency converters, uninterruptible power supplies and associated analytical equipment. The Behlman military division designs, manufactures and sells power units and electronic products for measurement and display.

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 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.