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Orbit International’s Power Group Receives New Order Valued at Approximately $1,334,000

Dépèche transmise le 14 décembre 2011 par Business Wire

Orbit International’s Power Group Receives New Order Valued at Approximately $1,334,000

Orbit International’s Power Group Receives New Order Valued at Approximately $1,334,000

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 an order for a power supply used in oil and gas exploration valued at approximately $1,334,000. Deliveries are expected to begin in the third quarter of 2012 and continue through the fourth quarter of 2013.

“Behlman), has received an order for a power supply used in oil and gas exploration valued at approximately $1,334,000. Deliveries are expected to begin in the third quarter of 2012 and continue through the fourth quarter of 2013.”

Behlman has been supplying its customer with this unit since 1995 and to date has shipped over 1,500 units. This order brings the total value of orders received for this unit in 2011 to approximately $2.5 million. In addition, Behlman’s 2011 bookings remain strong and have exceeded the previous annual record. Exclusive of this new order that was booked in December, bookings for the Power Group through November 30th are up over 26% from the same period of last year.

Mark Tublisky, President of Behlman commented, “Our commitment to building products of the highest quality and reliability has enabled us to secure and maintain these types of long-term business relationships. We have been a reliable source of supply on this program for over 15 years and we remain confident that we will continue to receive follow-on orders from our customer.”

Mitchell Binder, President and CEO of Orbit International commented, “We are very encouraged by the growth in sales in both divisions of our Power Group. Not only has Behlman’s COTS Division achieved record bookings in 2011, but with this order our Commercial Division has done so as well. Overall, our Power Group’s record bookings and revenue achieved in 2011 have validated a key part of its business strategy; developing long-term OEM business relationships, which we believe will continue to drive the growth of Behlman’s business in 2012 and beyond.”

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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