Business
Orbit International Reports Consolidated Bookings for November 2023 in Excess of $3,100,000
Orbit International Reports Consolidated Bookings for November 2023 in Excess of $3,100,000.
About this update from Orbit International Corp.
[{"type":"text","content":"\n HAUPPAUGE, N.Y., Dec. 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 November 2023 were in excess of $3,100,000. Deliveries for the November 2023 orders have already commenced and are expected to continue through the second quarter of 2025. Mitchell Binder, President and CEO of Orbit International commented, “We are pleased to report that consolidated bookings for the month of November 2023 were in excess of $3,100,000 with the majority of our bookings for the month coming from our legacy businesses at our Orbit Electronics Group (”OEG”) and Orbit Power Group (“OPG”). Bookings for our OEG, exclusive of orders received by our Simulator Product Solutions (“SPS”) subsidiary, were approximately $2,000,000, highlighted by an approximately $1,500,000 order from a large defense contractor for a switch panel used on a U.S. Navy program. Additional orders received were for other switch panels and displays. Bookings at our OPG were in excess of $700,000, highlighted by an approximately $400,000 order for our VPX power supplies used on a major aircraft program.” Binder added, “Orders for our SPS subsidiary were approximately $400,000 in November, which brought SPS’ record year-to-date bookings to approximately $10,600,000, an increase of approximately $5,400,000 or approximately 96%, when compared to total SPS bookings for all of 2022. In addition, SPS has certain remaining new and follow-on business opportunities that it hopes will be awarded prior to year-end, adding to its record bookings year, and achieving a year-over-year booking increase of over 100%.” 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, inverters, VME/VPX power supplies as well as various COTS power sources. Certain matters discussed in this news release and or...