Orbit International’s Power Group Receives Two New Orders with a Combined Value in Excess of $925,000
19 Marzo 2013 - 6:45AM
Business Wire
Orbit International Corp. (NASDAQ:ORBT) today announced that its
Power Group, through its Behlman Electronics, Inc. subsidiary
(“Behlman”), has received two new orders totaling in excess of
$925,000.
The first award, valued at $695,880, is a follow-on order for a
COTS power supply used in a U.S. Naval anti-submarine and anti-ship
surveillance and targeting system. Deliveries under this contract
are expected to commence in the third quarter of 2013 and be
completed in the fourth quarter of 2013.
The second award, valued at $229,795, is a follow-on order for a
COTS high voltage power supply used in the U.S. Navy’s AN/UYQ-21
display console. 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 be completed in the fourth quarter of 2013.
Ron Storm, President of Behlman commented, “Behlman’s business
remains strong across both our COTS and Commercial Divisions. The
receipt of repeat production orders such as these two further
validates Behlman’s business model, which emphasizes flexible
designs, individualized engineering support, and superior customer
service. In addition to Behlman’s niche business in COTS power
solutions, we are committed to the development of standard products
for both our Commercial and COTS Divisions which will form the
basis of new product platforms to drive Behlman’s continuing growth
in the coming years.”
Mitch Binder, President and Chief Executive Officer of Orbit
International Corp. commented, “Behlman’s ability to operate in
both the commercial and military COTS marketplace has enabled its
business to remain strong despite weak economic conditions over the
last two years. Our Power Group’s total bookings for the month of
February reached approximately $1.5 million. We continue to expect
follow-on awards for both our Power and Electronics Groups although
timing is always an issue. Furthermore, despite uncertainty over
the future DoD budget, our proposal activity remains very good for
both legacy hardware and new opportunities.”
Orbit International Corp., through its Electronics Group, 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. The Power Group, through 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 COTS 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.
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