Power Group's Bookings Through May 31stUp Over 11% From Same Period of 2011
HAUPPAUGE, N.Y.--()--Orbit International Corp. (NASDAQ:ORBT) today announced that its Power Group, through its Behlman Electronics, Inc. subsidiary (“Behlman”), has received a new order valued in excess of $1.7 million.
This order is for three separate COTS power supplies used in satellite communication systems. This is Behlman's fifth follow-on production order for these units. Deliveries are scheduled to commence in the fourth quarter of 2012 and continue through the fourth quarter of 2013. Additional orders for these power supplies are expected in 2012 and beyond.
Ron Storm, President of Behlman, added, “We continue to see a significant amount of activity in both new and follow-on programs in our COTS division. Behlman's commitment to providing our customers with a total solution approach for their power needs is an important reason behind our continued sales growth. We expect Behlman to continue to see strong sales in the coming months due to an increase in demand for our total power systems solutions.”
Mitchell Binder, President and CEO of Orbit International, commented, “We are pleased to receive this order as we continue to expand our presence in numerous key programs used by both the U.S. Armed forces and our industrial customers. In addition, inclusive of this order, bookings for our Power Group through May 31, 2012 are up over 11% from the same period of 2011. Consequently, our Power Group appears well positioned for another strong operating year in 2012.”
Orbit International Corp. is involved in the manufacture of customized electronic components and subsystems for military and nonmilitary government applications through its production facilities in Hauppauge, New York, and Quakertown, Pennsylvania; and designs and manufactures combat systems and gun weapons systems, provides system integration and integrated logistics support and documentation control at its facilities in Louisville, Kentucky. Its Behlman Electronics, Inc. subsidiary manufactures and sells high quality commercial power units, AC power sources, frequency converters, uninterruptible power supplies and COTS power solutions.
Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company including, statements regarding our expectations of Orbit's operating plans, deliveries under contracts and strategies generally; statements regarding our expectations of the performance of our business; expectations regarding costs and revenues, future operating results, additional orders, future business opportunities and continued growth, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although Orbit believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.
Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond Orbit International's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact Orbit International and the statements contained in this news release can be found in Orbit's filings with the Securities and Exchange Commission including quarterly reports on Form 10-Q, current reports on Form 8-K, annual reports on Form 10-K and its other periodic reports. For forward-looking statements in this news release, Orbit claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Orbit assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.
This order is for three separate COTS power supplies used in satellite communication systems. This is Behlman's fifth follow-on production order for these units. Deliveries are scheduled to commence in the fourth quarter of 2012 and continue through the fourth quarter of 2013. Additional orders for these power supplies are expected in 2012 and beyond.
Ron Storm, President of Behlman, added, “We continue to see a significant amount of activity in both new and follow-on programs in our COTS division. Behlman's commitment to providing our customers with a total solution approach for their power needs is an important reason behind our continued sales growth. We expect Behlman to continue to see strong sales in the coming months due to an increase in demand for our total power systems solutions.”
Mitchell Binder, President and CEO of Orbit International, commented, “We are pleased to receive this order as we continue to expand our presence in numerous key programs used by both the U.S. Armed forces and our industrial customers. In addition, inclusive of this order, bookings for our Power Group through May 31, 2012 are up over 11% from the same period of 2011. Consequently, our Power Group appears well positioned for another strong operating year in 2012.”
Orbit International Corp. is involved in the manufacture of customized electronic components and subsystems for military and nonmilitary government applications through its production facilities in Hauppauge, New York, and Quakertown, Pennsylvania; and designs and manufactures combat systems and gun weapons systems, provides system integration and integrated logistics support and documentation control at its facilities in Louisville, Kentucky. Its Behlman Electronics, Inc. subsidiary manufactures and sells high quality commercial power units, AC power sources, frequency converters, uninterruptible power supplies and COTS power solutions.
Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company including, statements regarding our expectations of Orbit's operating plans, deliveries under contracts and strategies generally; statements regarding our expectations of the performance of our business; expectations regarding costs and revenues, future operating results, additional orders, future business opportunities and continued growth, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although Orbit believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.
Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond Orbit International's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact Orbit International and the statements contained in this news release can be found in Orbit's filings with the Securities and Exchange Commission including quarterly reports on Form 10-Q, current reports on Form 8-K, annual reports on Form 10-K and its other periodic reports. For forward-looking statements in this news release, Orbit claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Orbit assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.
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