Business
Orbit International Corp. Reports Consolidated Bookings of Approximately $3,700,000 in November 2022
Orbit International Corp. Reports Consolidated Bookings of Approximately $3,700,000 in November 2022.
About this update from Orbit International Corp.
[{"type":"text","content":"\n Both Electronics and Power Group Again Report Firm Booking Months Consolidated Bookings During Current Quarter Reach Approximately $8,700,000 HAUPPAUGE, N.Y., Dec. 06, 2022 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC PINK:ORBT), an electronics manufacturer and software solution provider, today announced that consolidated bookings for the month of November 2022 were approximately $3,700,000. Deliveries for some of 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 our consolidated bookings for the month of November were approximately $3,700,000. This firm booking month comes on the heels of orders received in excess of $5,000,000 for the month of October, representing our strongest booking month of 2022. Our Electronics Group (“OEG”) bookings were approximately $2,600,000 and were highlighted by three orders received by our Orbit Instrument Division, including (i) a $725,000 order for displays used on a U.S. Navy program; (ii) an approximately $475,000 order for keypads used on a major aircraft program; and (iii) a $365,000 engineering contract for switch panels used on multiple aircraft platforms. Other bookings were for keyboards and displays. Our OEG bookings also include approximately $830,000 in orders received by our Simulator Product Solutions LLC (“SPS”) subsidiary.   Binder added, “Bookings from our Power Group (“OPG”) were approximately $1,100,000 and were highlighted by orders for several power supplies utilizing our VPX technology, an additional follow-on order for a COTS power supply used on a major missile defense system and approximately $500,000 for several other programs utilizing both our COTS and commercial power supplies. In addition, we continue to work with a customer on a significant follow-on order utilizing our VPX power supply. However, although we expected to receive this award in 2022, it now appears this contract will not be received until sometime in 2023.” Binder concluded, “We are happy to report that many of the contract awards that were being held up have begun to come to fruition in the current quarter. As mentioned, we are now expecting a large VPX award to be delayed i...