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Orbit International Receives Follow-on Order for STARS Keyboards Approximating $440,000; Year-to-Date Orders for STARS Contract Total More Than $1 Million

Dépèche transmise le 1 juin 2011 par Business Wire

Orbit International Receives Follow-on Order for STARS Keyboards Approximating $440,000; Year-to-Date Orders for STARS Contract Total More Than $1 Million

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 of approximately $440,000 for Standard Terminal Automation Replacement System (“STARS”) keyboards that will be incorporated into air traffic control systems in U.S. airports. Deliveries are expected to commence in the third quarter of 2011 and continue through year-end, with additional orders expected in the fourth quarter of 2011, for delivery next year.

Sam Berhumoglu, Vice President, Director of Marketing of the Orbit Instrument Division commented, “This is our second STARS order this year bringing year-to-date orders for our ruggedized keyboard to over $1 million. These keyboards are integrated into the state-of-the-art STARS air traffic control system. Based on information provided by our customer, we look forward to additional orders for the STARS keyboard in the final quarter of this year with ongoing orders through 2013, as the keyboards used in air traffic control systems continue to be upgraded throughout all air traffic control towers in the United States.”

Mitchell Binder, President & Chief Executive Officer, stated, “With this order, bookings for our Instrument Division through May are up 45% compared to the first five months of 2010. We are also seeing higher levels of business activity, bookings and backlog at our Power Group, for both our COTS and Commercial divisions. With five months of the year behind us, we remain very confident that 2011 will be a strong year for sales and profitability.”

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.