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Orbit’s Simulator Product Solutions Subsidiary Reports June Bookings in Excess of $3M
July 7, 2023 | Globe NewswireEstimated reading time: 1 minute
Orbit International Corp., an electronics manufacturer and software solution provider, announced that bookings from its Simulator Product Solutions LLC subsidiary (SPS) for the month of June 2023 were in excess of $3,000,000 and its second quarter bookings were approximately $4,500,000. Deliveries for the June 2023 orders are expected to commence in the third quarter of 2023 and are expected to continue through the second quarter of 2024.
In addition, the Company also announced that bookings for its Power Group (OPG) for the month of June were approximately $1,000,000. Deliveries for these orders have already commenced and are expected to continue through the first quarter of 2024.
Mitchell Binder, President and CEO of Orbit International commented, “We are pleased to report that bookings from our SPS subsidiary for the month of June 2023 were in excess of $3,000,000 and its second quarter bookings were approximately $4,500,000. Bookings for the month and second quarter were highlighted by a previously announced order received in June 2023, valued in excess of $2,500,000, for components used on a simulator for a major aircraft program. Bookings for our SPS subsidiary for the first half of 2023 were only slightly below bookings for all of 2022 and SPS has several new and follow-on business opportunities that it hopes will be received in the second half of 2023.”
Binder added, “In addition to firm bookings from our SPS subsidiary, bookings from our OPG for the month of June were approximately $1,000,000. Bookings for the month were highlighted by a significant order for power supplies used in oil and gas exploration. Other orders were for power supplies using our VPX technology and other commercial power supplies. Despite the firm booking month, other orders expected for VPX power supplies and COTS power supplies continue to be delayed but are expected once our prime contractors complete their negotiations with the U.S. government. As previously noted, timing uncertainty in the receipt of contracts from our prime contractors doing business with the U.S government is an inherent factor in our industry.”
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