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Orbit International Receives Orders over $2.4M for December
January 6, 2016 | MarketwiredEstimated reading time: 2 minutes
Orbit International Corp., an electronics manufacturer and software solution provider, today announced that consolidated bookings for both its Electronics and Power Groups exceeded $2,400,000 for the month of December 2015. In addition, the Company also announced that consolidated bookings for the fourth quarter of 2015 exceeded $6,300,000.
The bookings for December were highlighted by (i) previously announced orders in excess of $1,300,000 received by our Electronics Group for follow-on orders for its switch panels, displays and keyboards and (ii) follow-on orders received by our Power Group in excess of $900,000 for various COTS and commercial products as well as new orders for its VPXtra power supplies. Deliveries for the awards received during December are scheduled to commence in the first quarter of 2016 and continue through the first quarter of 2017.
Mitchell Binder, President and CEO of Orbit International commented, "Both November and December were very strong months for bookings resulting in our fourth quarter bookings exceeding $6,300,000. Our Electronics Group is currently working with our customers on several additional follow-on contracts which we expect will be booked during the first quarter of 2016, although the timing of these awards is always an uncertainty."
Binder added, "Our Power Group is working on securing new alliances with companies utilizing our new VPX technology. We continue to be encouraged with our VPX products as our Power Group received an order in November for initial quantities on another long term program. In December, a follow-on order of our 6U VPX1000CD units was received totaling approximately $44,000. Our Power Group has these units installed on a large number of new programs which bodes well for this product line once production orders are placed. In addition, we have a number of open bids for which we are expecting initial quantity orders very early in 2016. Production for the various programs range from late 2016 through 2021."
About Orbit International Corp.
Orbit International Corp., through its Electronics Group, is involved in the manufacture of customized electronic components and subsystems for military and nonmilitary government applications through its production facility in Hauppauge, New York. Orbit's Power Group, also located in Hauppauge, NY, designs and manufactures a wide array of power products including AC power supplies, frequency converters, inverters, uninterruptible power supplies, VME/VPX power supplies as well as various COTS power sources. The Company also has a sales office in Newbury Park, CA and a facility in Louisville, KY dedicated to the design and manufacture of gun weapons systems as well as VME/VPX solutions including backplanes, health monitors, air transport racks and components.
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