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Orbit International’s Power Group Receives New Orders In Excess of $950,000

Dépèche transmise le 19 avril 2011 par Business Wire

Orbit International’s Power Group Receives New Orders In Excess of $950,000

HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Orbit International Corp. (NASDAQ:ORBT), an electronics manufacturer and software solution provider, today announced that its Power Group, Behlman Electronics, Inc. (“Behlman”) has received new orders aggregating more than $950,000. The Company also reported that its Power Group, inclusive of these new orders received in March 2011, recorded bookings in the first quarter that were 88% higher than the same period last year.

The first order, totaling $337,000, is for COTS power supplies used in a satellite communication system. This is Behlman’s fourth production order for these units and Behlman expects additional orders for these power supplies in 2011 and beyond. This order is scheduled for delivery in the third and fourth quarters of this year.

The second order, totaling $380,000, is a reorder of a COTS power supply used on the RC-135, a U.S. Air Force all-weather airborne reconnaissance aircraft. Over the life of this program, Behlman has received orders for these power supplies of over $1,200,000. Additional orders are expected during the ongoing upgrade of this aircraft. This order is also scheduled for delivery in the third and fourth quarters of this year.

The final orders, totaling $242,000, are for a high voltage power supply used in the U.S. Navy’s AN/UYQ-21 display console. Several years ago, this high voltage power supply was selected by the Navy to resolve an obsolescence issue on these display consoles, which are used throughout the U.S. Naval fleet. These orders are scheduled for delivery in the fourth quarter of 2011; additional orders for this program are expected this year and beyond.

Mark Tublisky, President of Behlman commented, “Behlman has fueled growth in bookings and sales through repeat business from existing customers and by uncovering new market opportunities. Behlman’s ability to operate in both commercial and military COTS markets, combined with our commitment to being a total power solutions provider, have created a strong demand for Behlman products in niche applications.”

Mitchell Binder, Acting Chief Executive Officer of Orbit International commented, “Following the 8.9% increase in bookings in 2010, Behlman’s contract bookings through the first quarter increased 88% over the prior comparable period. As the economy continues to improve and we receive follow-on awards for our COTS applications, we are very encouraged by Behlman’s position in the marketplace and remain confident that its business will remain strong throughout 2011.”

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.