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Orbit International’s Power Group Receives New Order Valued at $649,000

Dépèche transmise le 24 janvier 2012 par Business Wire

Orbit International’s Power Group Receives New Order Valued at $649,000

Orbit International’s Power Group Receives New Order Valued at $649,000

HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Orbit International Corp. (NASDAQ:ORBT) (“Orbit”) today announced that its Power Group, through its Behlman Electronics, Inc. subsidiary (“Behlman”), received a new order for its COTS Division valued at $649,000.

This order is for a COTS power supply used in a United States Naval anti-submarine and anti-ship surveillance and targeting system. Deliveries are scheduled to begin by the end of the third quarter of 2012 and continue through the first quarter of 2013. Behlman has been supplying its customer with this power supply for over 10 years and it anticipates additional awards for this unit through 2016.

Mark Tublisky, President of Behlman commented, “Behlman’s line of multi-output COTS power supplies has been a major reason for our growth in recent years. These products are used in a wide variety of industrial and military applications which have and should continue to provide many years of repeat business. With a business model that is based on a flexible COTS design platform combined with superior customer service, Behlman has been able to grow its business in both the military and industrial markets.”

Mitchell Binder, President and CEO of Orbit commented, “Behlman has continued its momentum in 2012 after a record year of bookings, revenue and backlog in 2011. Bookings in 2011 increased by 35% over the prior year and with bookings exceeding $5,300,000 in the fourth quarter of 2011, combined with our strong bookings year-to-date, we are again well positioned for strong operating performance in 2012. Furthermore, we expect to continue to receive follow-on orders for legacy programs in both our COTS and Commercial Divisions.”

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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