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Friday, Oct 31, 2014


Orbit Receives Follow-On Order for Common Transponder Program

  • Orbit Instrument Division Bookings for 2010 Exceed $11 Million
Hauppauge, New York - Orbit International Corp. (NASDAQ:ORBT), an electronics manufacturer and software solution provider, today announced that its Electronics Group received a follow-on order valued at approximately $400,000 for Remote Control Units ("RCUs") to support the ongoing Common Transponder Program requirements of the U.S. Navy and U.S. Army. This order was received by the Company's Orbit Instrument Division. Deliveries under this follow-on contract are expected during the fourth quarter of 2011.

Bruce Reissman, Orbit's Chief Operating Officer commented, "As we announced in September 2010 when we booked the $2.1 million follow-on RCU order, our customer has exercised its option to procure additional RCUs. Since we received the initial RCU order, we have been awarded several follow-on orders and have delivered more than 3,700 units to our customer. In addition, our customer continues to indicate ongoing RCU demand in various configurations, and has requested multi-year pricing through 2013."


Mitchell Binder, Acting Chief Executive Officer of Orbit International commented, "This follow-on order comes on the heels of a very good year for bookings by our Orbit Instrument Division which exceeded $11,000,000. Based on current delivery schedules, we expect increased revenue and profitability from this operating unit for 2011."

Source : Orbit International Corp.

Published on ASDNews: Jan 21, 2011

 

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