Business
Orbit International Corp. Reports 2026 First Quarter Results
Orbit International Corp. Reports 2026 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 2026 First Quarter Results\r\n \r\n \r\n\r\n\r\nOrbit International Corp. Reports 2026 First Quarter Results\r\n\r\n\r\n\r\n\r\n\r\nFirst Quarter 2026 Net Loss of $1,546,000 ($0.46 loss per share) v. Net Loss of $2,152,000 ($0.65 loss per share) in Prior Year Comparable Period First Quarter 2026 EBITDA, as adjusted, was a loss of $1,313,000 ($0.39 loss per share) v. loss of $1,949,000 ($0.59 loss per share) in Prior Year Comparable Period Backlog at March 31, 2026 was $13.2 million compared to $12.3 million at December 31, 2025 HAUPPAUGE, N.Y., May 14, 2026 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTCID Basic Market:ORBT) today announced results for the first quarter ended March 31, 2026. First Quarter 2026 vs. First Quarter 2025 \r\n Net sales were $5,245,000, as compared to $4,726,000.\r\n Gross margin was 23.3%, as compared to 12.4%.\r\n Net loss was $1,546,000 ($0.46 loss per share), as compared to a net loss of $2,152,000 ($0.65 loss per share).\r\n Earnings before interest, taxes, depreciation and amortization, contingent liability adjustment, and stock-based compensation (EBITDA, as adjusted) was a loss of $1,313,000 ($0.39 loss per share), as compared to a loss of $1,949,000 ($0.59 loss per share).\r\n Backlog at March 31, 2026 was $13.2 million compared to $12.3 million at December 31, 2025.\r\n Mitchell Binder, President and CEO of Orbit International commented, “Lower than anticipated bookings in 2024 and the first half of 2025 affected our 2025 delivery schedules and operating performance and carried over to the first quarter of 2026, particularly for our Orbit Instrument division. In addition, a single supply chain issue delayed a $1,400,000 Orbit Power Group (“OPG”) shipment that had been scheduled for the third and fourth quarters of 2025. Instead, the order was shipped during the first quarter of 2026. This shipment boosted sales for our OPG for the current quarter, which resulted in profitability for the segment and helped mitigate the operating loss. Our net loss for the three months ended March 31, 2026, was $1,546,000 ($0.46 loss per share) compared to a net loss of $2,152,000 ($0.65 loss per share) for the prior comparable period. EBITDA, as adjusted, for the three months ended March 31, 2026, was a loss of $1,313,000 ($0.39 loss...