Orbit International's Power Group Receives New Orders Totaling in Excess of $1,000,000
- Total Orders Received by Orbit in January Exceed $3,900,000
Orbit International Corp. (OTC PINK: ORBT), an electronics manufacturer and software solutions provider, today announced that its Power Group, through its Behlman Electronics, Inc. subsidiary ("Behlman"), has received new orders for power supplies and backplanes valued in excess of $1,000,000.
The new orders represent follow-on contracts for COTS power supplies and backplanes that are part of an ongoing missile system upgrade program for which Behlman received its initial order in July 2009. These follow-on orders bring the total value of related orders to over $5.2 million to date. Deliveries are scheduled to commence in the third quarter 2015 and continue through the first quarter of 2016.
Global Smart Weapons Market Insights, Opportunity Analysis, Market Shares and Forecast, 2016 - 2022
Ron Storm, President of Behlman, commented, "We are very proud to continue to receive repeat orders for mission-critical COTS power supplies. This is an acknowledgement of the efforts put forth by our engineering, design and manufacturing team here at Behlman. It is also serves to affirm Behlman's ability to produce economical COTS power supplies for our customers and at the same time meet stringent military requirements year after year."
Mitchell Binder, President and CEO of Orbit International, commented, "Both our Electronics and Power Groups had an excellent booking month in January with combined orders that exceeded $3,900,000. These large awards build upon our improved bookings from the second half of 2014 where combined orders for both the third and fourth quarter of 2014 exceeded $6,000,000. These significant orders have increased our backlog which, combined with our cost cutting initiatives since mid-2013, should further contribute to improved operating performance beginning in the second quarter of 2015."
Source : Orbit International Corp. - view original press release