Dépêches

Orbit International’s Power Group Receives Three New Orders Valued in Excess of $1.5 Million

Dépèche transmise le 27 octobre 2011 par Business Wire

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 three new orders for its COTS Division valued in excess of $1.5 million.

“Business at our Power Group remains exceptionally good and bookings in the month of October, particularly for our COTS division remain very strong. Based on this trend we expect Behlman’s strong operating performance to continue for the remainder of 2011 and into 2012.”

The first order valued at approximately $470,000 is for a COTS power supply used on a U.S. Naval Electro Optical Sensing System. Deliveries for this order are scheduled to begin in the first quarter of 2012 and continue through the third quarter of 2012. Option quantities have been quoted through 2015, which if awarded could bring the total amount of orders for these units to over $1.5 million.

The second order, valued at approximately $657,000, is for a COTS power supply for a computer system used on a major missile defense system. This power supply is part of a system upgrade for an ongoing program for which Behlman received a $458,000 order in August 2011. Behlman expects to receive additional orders for this product in the future. Deliveries for this order are scheduled to commence in the second quarter of 2012 and continue through the fourth quarter of 2012.

The third order, valued at approximately $455,000, is for a COTS power supply, used on the RC-135, a U.S. Air Force (USAF) all-weather airborne reconnaissance aircraft. Behlman has been supplying units for this program since 2008, and with this order, has booked over $1,900,000 for this application. Behlman expects to receive additional orders for these units as the USAF continues to upgrade the RC-135 aircraft. Deliveries for this order are scheduled to commence in the second quarter of 2012 and continue through the fourth quarter of 2012.

Mark Tublisky, President of Behlman Electronics commented, “Our customers continue to turn to Behlman for COTS power solutions to upgrade their systems with the latest technology, thereby affording their own customers savings in both development costs and delivery time. Behlman’s standard platform of COTS power solutions provides our customers with reliable cost effective solutions to their power requirements and it has been instrumental in helping Behlman achieve continual growth in our business.”

Mitchell Binder, President and CEO of Orbit International commented, “We are pleased to receive the orders for these units as we continue to expand our presence on numerous key programs used by the U.S. Army, Navy and Air Force. We remain confident that our ability to continue to provide COTS solutions throughout the various U.S. military branches will lead to continued business in the coming years.”

Binder continued, “Business at our Power Group remains exceptionally good and bookings in the month of October, particularly for our COTS division remain very strong. Based on this trend we expect Behlman’s strong operating performance to continue for the remainder of 2011 and into 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.