Orbit International's Power Group Receives New Order Valued at $1,7M
- Anticipates Significant Annual Follow-On Orders through 2016
This order represents the exercise of the fifth and final option of an order that was originally negotiated in December 2006. At the customer's request, Behlman has quoted a follow-on multi-year order for the same program which could lead to continuous production equal to this current order on an annual basis through the year 2016.
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Mark Tublisky, President of Behlman commented, "This is the second major order Behlman has received for a COTS power supply during the current quarter. In addition, our commercial division has been steadily improving throughout the year and bookings from both divisions have increased from last year. We continue to distinguish ourselves from our competition by providing effective and cost-efficient solutions to our customer's power problems, thereby becoming the selected supplier for power units on many commercial and military programs which have and should continue to generate many years of repeat business."
Dennis Sunshine, 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. In addition to its increasing order flow from these customers, we are beginning to see a resumption of activity from our major oil and gas exploration customers which should provide an additional layer of new orders in the coming months. Because of the new orders we recorded year-to-date and other awards that we expect to receive in the coming quarters, Behlman is poised for a strong second half of 2010 and is becoming increasingly well-positioned for continued gains in 2011."
Source : Orbit International Corp.