Business
Orbit International Corp. Reports 2025 First Quarter Results
Orbit International Corp. Reports 2025 First Quarter Results.
About this update from Orbit International Corp.
[{"type":"text","content":"\r\n\r\n \r\n \r\n Orbit International Corp. Reports 2025 First Quarter Results\r\n \r\n \r\n\r\n\r\nOrbit International Corp. Reports 2025 First Quarter Results\r\n\r\n\r\n\r\n\r\n\r\nFirst Quarter 2025 Net Loss of $2,152,000 ($0.65 loss per share) v. Net Loss of $751,000 ($0.22 loss per share) in Prior Year Comparable Period First Quarter 2025 EBITDA, as adjusted, was a loss of $1,949,000 ($0.59 loss per share) v. loss of $551,000 ($0.16 loss per share) in Prior Year Comparable Period Backlog at March 31, 2025 was $13.3 million compared to $12.0 million at December 31, 2024 HAUPPAUGE, N.Y., May 12, 2025 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC PINK:ORBT) today announced results for the first quarter ended March 31, 2025. First Quarter 2025 vs. First Quarter 2024 \r\n Net sales were $4,726,000, as compared to $6,175,000.\r\n Gross margin was 12.4%, as compared to 30.8%.\r\n Net loss was $2,152,000 ($0.65 loss per share), as compared to a net loss of $751,000 ($0.22 loss per share).\r\n Earnings before interest, taxes, depreciation and amortization, fair value adjustment on contingent liabilities and other non-current liability, and stock-based compensation (EBITDA, as adjusted) was a loss of $1,949,000 ($0.59 loss per share), as compared to a loss of $551,000 ($0.16 loss per share).\r\n Backlog at March 31, 2025 was $13.3 million compared to $12.0 million at December 31, 2024.\r\n Mitchell Binder, President and CEO of Orbit International commented, “The first quarter for 2025 was a very challenging quarter for our Company. Our net loss for the three months ended March 31, 2025, was $2,152,000 ($0.65 loss per share) compared to a net loss of $751,000 ($0.22 loss per share) for the prior comparable period. EBITDA, as adjusted, for the three months ended March 31, 2025, was a loss of $1,949,000 ($0.59 loss per share) compared to a loss of $551,000 ($0.16 loss per share) in the prior comparable period. Our current first quarter operating results were negatively affected by significantly lower sales incurred by our Orbit Electronics Group (“OEG”) inclusive of our Simulator Product Solutions LLC (“SPS”) subsidiary. In particular, we incurred an operating loss at our Orbit Instrument division due to a gap in our delivery schedules. Our Orbit Instrument division has historically been our bes...