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Orbit International’s Power Group Receives Two New Orders with a Combined Value in Excess of $626,000, Bringing Bookings for December to over $2,200,000

Dépèche transmise le 10 janvier 2012 par Business Wire

Orbit International’s Power Group Receives Two New Orders with a Combined Value in Excess of $626,000, Bringing Bookings for December to over $2,200,000

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 two new orders totaling in excess of $626,000.

“Our Power Group capped off an extremely successful year in 2011 with an exceptional finish. In addition to bookings in excess of $2,200,000 for the month of December, bookings for the fourth quarter exceeded $5,300,000, and for 2011 as a whole increased by 35% over the prior year.”

The first award, valued at $394,000, is a follow-on order for a COTS power supply used on the RC-135, a U.S. Air Force (USAF) all-weather airborne reconnaissance aircraft. Behlman expects to receive additional orders for these units as the USAF continues to upgrade its RC-135 fleet. Delivery is scheduled to commence in the third quarter of 2012 and be completed by the fourth quarter of 2012.

The second order, valued at $232,000, is for a hot swappable DC power supply used in a nuclear power plant control system. Delivery of this order is scheduled for the second quarter of 2012. Behlman received the initial prototype order for these units in September 2007, has been receiving production orders since January 2008 and is projecting future orders over the next several years as nuclear power plants undergo upgrades.

In addition, Behlman announced that in 2011 it achieved record bookings, revenues and backlog.

Mark Tublisky, President of Behlman commented, “Our commitment to being a premier power solutions provider has helped to fuel our continued growth in sales leading to this record year. Behlman’s business plan, which emphasizes a platform design concept that minimizes costs and reduces delivery time combined with building strong business relationships with our customers, has made 2011 the best year in Behlman’s history.”

Mitchell Binder, President and CEO of Orbit International commented, “Our Power Group capped off an extremely successful year in 2011 with an exceptional finish. In addition to bookings in excess of $2,200,000 for the month of December, bookings for the fourth quarter exceeded $5,300,000, and for 2011 as a whole increased by 35% over the prior year.”

Binder continued, “In addition to record bookings, revenues also hit a record level in 2011 and with the operating leverage inherent in our business, we expect strong profitability from our Power Group for the fourth quarter and twelve month period. Going into the new year with a record backlog, Behlman is once again well positioned for strong operating performance 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.