Orbit International Electronics Group Reports Bookings for February 2024 in Excess of $2,000,000
March 14, 2024 | Globe NewswireEstimated reading time: 1 minute
Orbit International Corp., an electronics manufacturer and software solution provider, announced that its Electronics Group (OEG) reported bookings for the month of February 2024 in excess of $2,000,000. Deliveries for the February 2024 orders have already commenced and are expected to continue through the first quarter of 2026.
In addition, the Company’s Power Group (“OPG”) reported that it received an order in March 2024 totaling more than $1.0 million for power supplies used in a significant multi-year military program. Furthermore, the OEG reported that in March 2024 it also received an order for approximately $1,668,000 for a product used in a military aircraft program. Approximately $143,000 of this order, covering the order of long lead items, was previously recorded in a prior period. Deliveries for these awards will commence in the fourth quarter of 2024 and continue through the third quarter of 2025.
The Company also announced that Karl Schmidt, its Chief Operating Officer, will transition to the role of advisor to the CEO, Mitchell Binder, effective May 1, 2024. Mr. Schmidt will remain with the Company through the end of 2024 to assure the orderly transition of his duties and responsibilities to key members of Orbit’s management team.
Mitchell Binder, President and CEO of Orbit International commented, “We are pleased to report that bookings for our OEG for the month of February 2024 were in excess of $2,000,000 with the majority of our bookings attributable to our previously announced order, in excess of $1,600,000, for a product used by the U.S. Navy. Additional orders received during the month for the OEG were for switch panels and displays.”
Binder added, “In addition to a firm booking month in February, on March 4, 2024, our OPG received an order in excess of $1,000,000 for power supplies used in a multi-year military program. This order, along with another anticipated order for our VPX power supplies well positions our OPG for a firm first quarter of bookings. Furthermore, our OEG received an order for $1,668,000 on March 10, 2024, which includes $143,000 of an order we previously recorded for long lead items related to a significant military aircraft program. We continue to work with our customers on several other business opportunities and expect additional bookings before quarter end, which will provide a strong first quarter of bookings and a firm start to 2024. However, the timing of the receipt of orders is always an uncertainty.”
Suggested Items
LPMS USA to Offer Live Molding Demos at IPC APEX 2025
02/07/2025 | LPMS USALPMS USA, a leader in low pressure molding solutions, is thrilled to exhibit at IPC APEX 2025. Join us at Booth #2300 for live molding demonstrations using the innovative KAPPA 1100H.
MacDermid Alpha Introduces Reworkable Edgebond for High-Reliability Electronics
02/06/2025 | MacDermid Alpha Electronics SolutionsIn an era where high-performance and sustainable manufacturing practices are crucial, MacDermid Alpha Electronics Solutions is redefining industry standards with the launch of ALPHA® HiTech® CF31-4026.
Zhen Ding Releases January 2025 Monthly Revenue Report
02/06/2025 | Zhen DingZhen Ding Technology Holding Limited, a global leading PCB manufacturer, reported January 2025 revenue of NT$13,469 million, up 5.44% YoY, achieving a record high for the same period in the company’s history.
Amphenol Completes Acquisition of OWN and DAS Businesses From CommScope
02/06/2025 | BUSINESS WIREAmphenol Corporation announced it had completed the acquisition of CommScope’s Outdoor Wireless Networks (OWN) and Distributed Antenna Systems (DAS) businesses.
Delvitech to Officially Present Hybrid AOI + SPI Horus System at IPC APEX EXPO 2025
02/06/2025 | DelvitechDelvitech is happy to announce that it will showcase its groundbreaking Horus system, the industry's first all-in-one AI native platform for both Automatic Optical Inspection (AOI) and Solder Paste Inspection (SPI), at the upcoming IPC APEX EXPO 2025. The event is scheduled from March 18 to 20, 2025, at the Anaheim Convention Center in Anaheim, California.