Orbit International’s Power Group Receives Two New Orders Valued in Excess of $630,000

Dépèche transmise le 12 juillet 2011 par Business Wire

Orbit International’s Power Group Receives Two New Orders Valued in Excess of $630,000

Orbit International’s Power Group Receives Two New Orders Valued in Excess of $630,000

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”), received two new orders with an aggregate value in excess of $630,000. The Company also reported that inclusive of these new orders, year-to-date bookings were 79% higher than the same period last year.

Behlman received a $409,000 follow-on order for a COTS high voltage power supply used in the U.S. Navy’s AN/UYQ-21 display console, the third order for this unit this year. This high voltage power supply was selected several years ago by the U.S. Navy to resolve an obsolescence issue on these display consoles used throughout its fleet. Deliveries are expected to commence in first quarter of 2012 and continue through the third quarter of 2012. Furthermore, the Company expects to receive additional orders for this power supply in 2012 and beyond.

The second order, totaling $230,000, is for a modified standard commercial power supply for a program at a leading federal research laboratory. Behlman’s ability to meet the customer’s stringent technical specifications and expedited delivery requirements helped it beat the competition for this order. Deliveries are scheduled in the current third quarter of 2011.

Mark Tublisky, President of Behlman Electronics commented with respect to the second order, “Behlman’s platform design concept allowed us to quickly address our customer’s technical and delivery needs. This capability has enabled Behlman to build strong relationships and recurring business with our growing customer base. Additionally, this competitive advantage has enabled Behlman to uncover numerous market opportunities helping to fuel our growth in sales.”

Mitchell Binder, President and Chief Executive Officer of Orbit International commented, “With the 79% increase in year-to-date bookings, business at our Power Group remains exceptionally strong, with growth and new orders coming from both our Commercial and COTS divisions. We see these favorable trends continuing through the remainder of 2011 and based upon orders and delivery schedules, we anticipate continued growth in 2012.”

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.

Business Wire

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