Business
Orbit International Receives Orders in Excess of $3,000,000 for Month of November
Orbit International Receives Orders in Excess of $3,000,000 for Month of November.
About this update from Orbit International Corp.
[{"type":"text","content":"\n \n \n Orbit International Receives Orders in Excess of $3,000,000 for Month of November\n \n \nOrbit International Receives Orders in Excess of $3,000,000 for Month of November\n \n HAUPPAUGE, NY--(Marketwired - Dec 3, 2015) - Orbit International Corp. (OTC PINK: ORBT), an electronics manufacturer and software solution provider, today announced that consolidated bookings for both its Electronics and Power Groups exceeded $3,000,000 for the month of November.\n The bookings for November were highlighted by (i) a previously announced order in excess of $1,870,000 received by our Power Group for a power supply that is part of an armament test system and (ii) follow-on orders received by our Electronics Group in excess of $700,000 for various switch panels, keyboards and bezel assemblies. Deliveries for the awards received during November are scheduled to commence in the first quarter of 2016 and continue through the first quarter of 2017.\n Mitchell Binder, President and CEO of Orbit International, commented, \"November proved to be a very strong month for bookings and we continue to work 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. In addition, our engineers are working on developing several new prototypes with our current customer base for business opportunities beginning in 2017 and beyond.\"\n Binder added, \"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 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. Our Power Group is making new alliances with major prime contractors in the VPX marketplace and continues to expand its product offering with the recent release of the VPXtra1000CD-IQ and CM-IQ, a VPX COTS power supply with embedded intelligence.\" \n 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 Hauppau...