Business
Orbit International Reports Consolidated Bookings for August 2023 in Excess of $4,000,000
Orbit International Reports Consolidated Bookings for August 2023 in Excess of $4,000,000.
About this update from Orbit International Corp.
[{"type":"text","content":"\n HAUPPAUGE, N.Y., Sept. 08, 2023 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC Expert Market:ORBT), an electronics manufacturer and software solution provider, today announced that its consolidated bookings for the month of August 2023 were in excess of $4,000,000. Deliveries for the August 2023 orders have already commenced and are expected to continue through the fourth quarter of 2024. Mitchell Binder, President and CEO of Orbit International commented, “We are pleased to report that consolidated bookings for the month of August 2023 were approximately $4,000,000 with each of our operating units contributing over $1,000,000 in bookings for the month. Bookings for our Orbit Power Group (“OPG”) were approximately $1,350,000 highlighted by approximately $1,100,000 in orders for our VPX and COTS power supplies. Orders for our Orbit Electronics Group (“OEG”), exclusive of orders received by our Simulator Product Solutions LLC (“SPS”) subsidiary, were approximately $1,150,000, which represented orders for our displays and touch panels. In addition to these orders, our OEG (exclusive of SPS) is working on significant follow-on orders with two of its customers as well as a large engineering effort with a third customer which could result in firm bookings prior to year-end.” Binder added, “On the heels of several large contracts received over the last few months, orders for our SPS subsidiary totaled approximately $1,550,000 for the month of August bringing its record year-to-date bookings to approximately $8,500,000 compared to total bookings for SPS, for all of 2022, of approximately $5,400,000, an increase of approximately 57%. In addition to the strong booking performance through August 2023, SPS has several new and follow-on business opportunities that it hopes will be awarded prior to year-end, adding to its record bookings year.” Orbit International Corp., through its Electronics Group, is involved in the development and manufacture of custom electronic device and subsystem solutions for military, industrial and commercial applications through its production facilities in Hauppauge, NY and Carson, CA. Orbit’s Power Group, also located in Hauppauge, NY, designs and manufactures a wide array of power products including AC power supplies, frequency converters...