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Orbit International's Power Group Receives Several New Orders Valued in Excess of $980,000

Dépèche transmise le 30 novembre 2011 par Business Wire

Orbit International's Power Group Receives Several New Orders Valued in Excess of $980,000

Orbit International's Power Group Receives Several New Orders Valued in Excess of $980,000

HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Orbit International Corp. (NASDAQ:ORBT) today announced that its Power Group, through its Behlman Electronics, Inc. subsidiary (“Behlman”), has received new orders valued in excess of $980,000.

“Behlman’s extensive experience in providing modified COTS power solutions has enabled it to expand into new markets and fuel our sales growth. In addition to the strong business activity in our COTS products division, Behlman’s commercial division is also experiencing one of its most successful years.”

The first order, valued at approximately $612,000, is for a COTS power supply used in a satellite communication system. This is Behlman’s fifth production order for these units and it expects additional orders for these power supplies in 2012 and beyond. Deliveries are scheduled to commence in the second quarter of 2012 and continue through the fourth quarter of the year.

The second award, valued at approximately $197,000, is for a COTS power supply used in a United States Naval Electro Optical Sensing System and is a follow-on to the $470,000 order Behlman received for this power supply in September 2011. This order is scheduled for delivery in the third quarter of 2012. As previously announced, option quantities have been quoted through 2015, which if awarded, could bring the total amount of orders for these units to over $1.5 million.

The final order, valued at approximately $175,000, is for several VITA62 VPX power supply cards to be used in an open architecture computer system. Deliveries are scheduled to begin in the first quarter of 2012 and continue through the second quarter of 2012. This order represents Behlman’s continued expansion into the COTS power supply market with products that Behlman projects will have wide range use in both military and industrial applications.

Mark Tublisky, President of Behlman added, “Behlman’s extensive experience in providing modified COTS power solutions has enabled it to expand into new markets and fuel our sales growth. In addition to the strong business activity in our COTS products division, Behlman’s commercial division is also experiencing one of its most successful years.”

Mitchell Binder, President and CEO of Orbit International commented, “Behlman’s bookings in the month of October slightly exceeded $2.2 million and its total 2011 bookings through October 31st were up 24.9% over the same period of the prior year. Based on activity in November, both bookings and shipments for 2011 have already set a new annual record for our Power Group. In addition, based on these bookings and delivery schedules, we believe our Power Group is well positioned for another strong operating year in 2012.”

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 COTS power solutions.

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.

Business Wire

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