Compensated Awareness Post View
Disclaimer
Orbit International Corp. (ORBT) Power Group Obtains New Follow-On Orders for $770,000+
Today before the opening bell, Orbit International reported its Orbit Power Group, through its subsidiary Behlman Electronics, Inc., had received new follow-on orders valued at over $770,000.
The first order is for a COTS power supply, which is tied to an ongoing missile system upgrade program that Behlman Electronics received its first order for in 2009. This first order is valued at $654,000. Overall, Behlman Electronics’ orders for the program now total over $3.5 million. It is expected that deliveries will begin in Q3 2014 and continue until Q1 2015. Behlman Electronics also anticipates additional orders in 2014 based on information provided by the client.
Behlman Electronics’ second order is a follow-on order for a COTS power supply used on a water purification system on a US Navy guided missile destroyer. Deliveries have been scheduled for Q4 2014.
Ron Storm, President of Behlman Electronics commented, “Despite challenging economic conditions, Behlman’s COTS division continues to generate both new and repeat orders for its products. Behlman continues to work with major contractors developing power solutions for commercial and military programs which should continue to provide many years of follow-on business.”
Mitchell Binder, President and Chief Executive Officer of Orbit International commented, “This is our second order in 2014 for this COTS power supply in support of an ongoing missile program. These two contracts approximated $1,429,000 with additional orders expected in 2014. Despite difficult industry conditions, bookings for our COTS division have improved over the prior year. Also, in our Electronics Group, we have had a significant increase to our proposal pipeline, particularly our legacy business, but the timing of actual orders remains uncertain. In addition, we continue to carefully monitor our costs in order to maximize our operating margins.”
For more information about Orbit International, its products, and its initiatives, visit: www.orbitintl.com
