Business
Orbit International Corp.’s Power Group Reports October 2019 Bookings in Excess of $1,380,000
Orbit International Corp.’s Power Group Reports October 2019 Bookings in Excess of $1,380,000.
About this update from Orbit International Corp.
[{"type":"text","content":"\n VPX Bookings at 10/31/19 Approximate VPX Bookings for entire 2018 year Electronics Group Also Reports Bookings In Excess of $1,000,000 HAUPPAUGE, N.Y., Nov. 05, 2019 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC PINK:ORBT), an electronics manufacturer and software solution provider, today announced that bookings for its Power Group (“OPG”) for the month of October exceeded $1,380,000.  In addition, the Company also reported bookings for its Electronics Group (“OEG”) also exceeded $1,000,000, aided by bookings from its new Q-Vio Corp. (“Q-Vio”) subsidiary.        Bookings for the Power Group for the month of October were highlighted by an order for a COTS power supply worth approximately $675,000 that is used in a major military program.   In addition, bookings for commercial power supplies exceeded $600,000 for the month.  Other awards received by the OPG during the month were for power supplies utilizing its VPX technology.  Deliveries for contracts received during October have commenced and are expected to continue through the third quarter of 2020.  Mitchell Binder, President and CEO of Orbit International commented, “We are pleased with this solid booking month from our OPG that comes on the heels of third quarter bookings which exceeded $4,300,000.  We are especially encouraged by the increase in commercial bookings over the last several months.  Our commercial bookings at October 31, 2019 have increased 27.8% over the comparable period of the prior year.  In addition, bookings for power supplies utilizing our VPX technology at October 31, 2019 have approximated total VPX bookings for all of 2018.  These orders, along with two large orders previously received for Common Aircraft Armament Test Sets (CAATS) will help strengthen our delivery schedules throughout 2020.” Binder continued, “New orders received by our new Q-Vio subsidiary also helped our OEG achieve bookings that exceeded $1,000,000 for the month.  We are still waiting on significant follow-on orders for our OEG. However, negotiations have now commenced with our customers on two key programs and orders are expected to be received in the current quarter.  In addition, Q-Vio is expecting a significant award from a la...