Orbit International Receives Follow-on Order for E-2D Advanced Hawkeye Aircraft

Orbit International Corp. (NASDAQ: ORBT), an electronics manufacturer and software solutions provider, today announced that its Electronics Group, through its Orbit Instrument Division, received an order to supply mission control data entry devices for the E-2D Advanced Hawkeye, the all weather carrier-capable Airborne Early Warning (AEW) aircraft. The contract is valued in excess of $480,000, and deliveries are expected to commence in the first quarter of 2014 and continue through the second quarter of 2014.

Currently in development, the E-2D Advanced Hawkeye is the newest variant of the E-2 aircraft platform. The E-2D enjoys a number of upgrades over its predecessor, including completely new radar, advanced IFF systems, a modernized communications and data link suite.

The E-2D Advanced Hawkeye uses computerized radar, Identification Friend or Foe, and electronic surveillance sensors to provide early warning threat analysis against potentially hostile air and surface targets. The aircraft also can perform long-range surveillance, search and rescue, provide over-the-horizon radio relays, and act as a flying air traffic control unit in disaster recovery operations.

Mitchell Binder, President and CEO of Orbit, commented, "We have been involved in the E-2 Hawkeye program since 2000, initially providing our data entry devices for the E-2C aircraft and since 2011 for its latest version, the E-2D aircraft. The initial operating testing of two E-2D prototypes was completed earlier this year and according to Naval Air Systems Command (NAVAIR), the model is now cleared for full-rate production. Initial plans call for 75 new E-2D Hawkeye aircraft to enter duty in the near future and we are currently expecting a multi-year award of approximately $2 million during the first quarter of 2014 and additional follow-on awards for several years to come."

Mr. Binder added, "Of note, although the initial order for this program was awarded to us in early 2011, the release of follow-on orders for this and other legacy programs was delayed due to budget concerns. We are encouraged by our recent award activity, as several of the anticipated orders, including this E2-D project, were finally awarded to us. We expect other significant orders for legacy hardware to be released in the near future."

Source: Orbit International Corp.
Date: Oct 30, 2013