Orbit Receives Follow-on Award for US Navy MK 110 SDC

Orbit International Corp. (NASDAQ:ORBT), an electronics manufacturer and software solution provider, today announced that its Electronics Group has received a new base contract award from a U.S. Navy Procurement Agency valued in excess of $5,758,000 for its MK 110 Signal Data Converter (“SDC”). This award was received by the Company’s Integrated Combat Systems, Inc. (“ICS”) subsidiary located in Louisville, Kentucky. The U.S. Navy has placed its initial order on this contract with a task order valued at approximately $1,050,000; an additional award is expected shortly for approximately $547,000, for a total of $1,597,000. Additional orders for the remainder of the contract are expected later in 2012 and in 2013. Deliveries of all units under this contract are expected to commence in the third quarter of 2012 and continue through the end of 2013.

The MK 110 SDC is a major configuration item of the GCS MK 160 MOD. It includes custom fabricated enclosures; Commercial-Off-The-Shelf and Non-Developmental Items components, which also are designed to meet the most stringent U.S. Navy operational systems requirements. The MK 110 SDC is to be deployed on DDG 51-78 as part of the AEGIS Modernization Program and is operationally integrated with the 5”/54 MK-45 Gun Mount systems.

Julie McDearman, ICS’s Director of Engineering and Logistics commented, “We greatly appreciate the continued trust shown by the U.S. Navy in our experienced team of engineers and logisticians. The MK 110 SDC is the AEGIS Modernization Program’s version of the MK 119 GCSC that ICS has been supplying to the U.S. Navy since 2001. This order demonstrates our continued partnership with the customer.”

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Mitchell Binder, President and CEO of Orbit International commented, “We are pleased that our Electronics Group continues to receive orders not only for its legacy hardware but for new equipment as well. Our backlog at March 31, 2012 was in excess of $21.1 million and this MK 110 SDC order should further increase backlog at April 30, 2012. This new order well positions ICS and our Company as a whole for continued strong operating performance in 2012.”

Source: Orbit International Corp.
Date: Apr 29, 2012