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Orbit International’s Power Group Announces Two New Orders with a Combined Value of $474,000

Dépèche transmise le 7 janvier 2011 par Business Wire

Orbit International’s Power Group Announces Two New Orders with a Combined Value of $474,000

HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Orbit International Corp. (NASDAQ:ORBT), an electronics manufacturer and software solution provider, today announced that its Power Group, through its Behlman Electronics, Inc. subsidiary (“Behlman”) has received two new orders with a combined value of $474,000 from the same customer. Additionally, the Company reported that its Power Group achieved approximately $10.46 million in bookings for 2010, or an 8.9% increase from 2009.

“These orders for two different applications from the same customer validate Behlman’s business model of flexible designs, individualized engineering support and superior customer service. Furthermore, Behlman remains committed to the enhancement of its standard products which serve as the platforms for future business.”

Behlman received a $269,000 follow-on order for a commercial off-the-shelf (“COTS”) power supply used in a shipboard-based satellite communications system. This is Behlman’s third production order for this unit and additional orders are anticipated in 2011 and beyond for this on-going program. Deliveries are scheduled for the second and third quarters of 2011.

The second order, valued at $205,000, is for a COTS power supply for a new power application in a land-based satellite communication system. Deliveries are scheduled to begin in the second quarter of 2011 and be completed by the end of 2011.

Mark Tublisky, President of Behlman Electronics commented, “These orders for two different applications from the same customer validate Behlman’s business model of flexible designs, individualized engineering support and superior customer service. Furthermore, Behlman remains committed to the enhancement of its standard products which serve as the platforms for future business.”

Mitchell Binder, Acting Chief Executive Officer of Orbit International commented, “Behlman’s business remains strong for both COTS and Commercial power applications due in great part to its broad product platform. In addition, Behlman meets the on-going production requirements of both long standing, as well as new customers, with its niche power solutions. Behlman achieved an 8.9% increase in bookings for 2010 and we remain confident that Behlman’s business will continue to grow over the near and long-term.”

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.