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Orbit International Receives Order for Stars Keyboards Valued in Excess of $600,000

Dépèche transmise le 6 avril 2011 par Business Wire

Orbit International Receives Order for Stars Keyboards 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 a $603,000 order for Standard Terminal Automation Replacement System (“STARS”) keyboards for use in air traffic control systems in U.S. airports. Deliveries under this award are expected to commence in the third quarter of 2011 and continue through the fourth quarter of 2011. Orbit expects additional orders to be released in the fourth quarter of 2011, with 2012 delivery.

“STARS is a state-of-the art replacement system used by commercial aviation for managing terminal area airspace. We have been part of this program since 2000, providing ruggedized keyboards which are integrated into the STARS system which provides air traffic controllers with radar data and flight plan information.”

Sam Berhumoglu, Vice President, Director of Marketing of the Orbit Instrument Division commented, “STARS is a state-of-the art replacement system used by commercial aviation for managing terminal area airspace. We have been part of this program since 2000, providing ruggedized keyboards which are integrated into the STARS system which provides air traffic controllers with radar data and flight plan information.”

Mitchell Binder, Acting Chief Executive Officer, stated, “Including this order, Orbit’s bookings for the first quarter of 2011 were in excess of $7.5 million, up significantly from the first quarter of 2010. As we’ve previously stated, based on strong bookings in the second half of 2010 and for the first quarter of 2011, as well as additional pending orders and our significantly lower cost structure, we are confident that 2011 will be a year of growth in revenues and net income compared to 2010.”

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 associated analytical equipment. The Behlman military division designs, manufactures and sells power units and electronic products for measurement and display.

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.