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Orbit International Corp. Receives Order for the E-2 Hawkeye Aircraft Valued in Excess of $600,000

Dépèche transmise le 28 janvier 2011 par Business Wire

Orbit International Corp. Receives Order for the E-2 Hawkeye Aircraft Valued in Excess of $600,000

HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Orbit International Corp. (NASDAQ:ORBT), an electronics manufacturer and software solution provider, today announced that its Orbit Instrument Division received an order in excess of $600,000 for data entry panels for the mission control in the E-2 Hawkeye, the all weather carrier-capable Airborne Early Warning (AEW) aircraft, designed to give long-range warning of incoming aerial threats. Deliveries under this contract are expected to commence in the second quarter of 2011 and continue through the fourth quarter of 2011.

“We continue to be a valued supplier for this program and in light of the importance of the E-2 Hawkeye to the U.S. Navy, we expect follow-on awards for several years to come.”

From an operating altitude above 25,000 feet, the E-2 Hawkeye provides data on approaching air threats and provides threat identification and positional data to fighter aircraft. The Hawkeye’s secondary roles include strike command and control for all aircraft carrier battle groups, surveillance, guidance of search and rescue missions for naval aviators.

Sam Berhumoglu, Vice President of Sales and Marketing of Orbit Instrument Division noted, “We have been involved in the E-2 Hawkeye program for over 12 years, initially providing our data entry panels for the E-2C aircraft and now for the latest version, the E-2D aircraft. The Hawkeye will continue its role as the Navy’s primary AEW aircraft for years into the future. Just last month, it was reported that 75 new E-2 Hawkeye aircraft with significant radar, engine, and electronics upgrades will be built in order to deal with a growing need for surveillance necessary to protect the U.S. naval fleet.”

Mitchell Binder, Acting Chief Executive Officer of Orbit International commented, “We continue to be a valued supplier for this program and in light of the importance of the E-2 Hawkeye to the U.S. Navy, we expect follow-on awards for several years to come.”

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, but not limited to, statements regarding any acquisition proposal and/or the potential sale of the Company and whether such proposal or a strategic alternative thereto may be considered or consummated; statements regarding the Company’s expectations of its operating plans, deliveries under contracts and strategies generally; statements regarding its expectations of the performance of 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.