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Orbit International's Electronics Group Receives New Orders in June Totaling Over $1,250,000
Orbit International's Electronics Group Receives New Orders in June Totaling Over $1,250,000.
About this update from Orbit International Corp.
[{"type":"text","content":"\n \n \n Orbit International's Electronics Group Receives New Orders in June Totaling Over $1,250,000\n \n \nOrbit International's Electronics Group Receives New Orders in June Totaling Over $1,250,000\n\nBookings Remain Strong for the Electronics Group\n\n \n HAUPPAUGE, NY--(Marketwired - Jul 7, 2015) -  Orbit International Corp. (OTC PINK: ORBT), an electronics manufacturer and software solution provider, today announced that in the month of June 2015 its Electronics Group received more than $1,250,000 in new and follow-on orders for its products used on several programs.\n Bookings for June 2015 were highlighted by an initial production award of approximately $300,000 for a Human Control Interface (HCI) application on a new program following successful qualification testing of the unit. Based on indications from our customer, an additional production award is projected in the fourth quarter of 2015 with additional orders expected in 2016. Other contract awards during the month consisted of orders for the Company's displays, trackballs and bezel assemblies. Expected deliveries for these awards received during June 2015 are scheduled to commence in the third quarter of 2015 and continue through the first quarter of 2016.\n Ken Ice, President of the Orbit Electronics Group, commented, \"We had previously announced the award for the development of our new HCI application. This initial production award, received shortly after our completion of a complex design qualification effort, is a credit to our sales, operations and quality teams as well as the strength of our partnership with our customer. We are continuing our focus on developing new program opportunities, many of which are with our existing customer base.\" \n Mitchell Binder, President and CEO of Orbit International, commented, \"We remain very encouraged by the continued strong bookings from our Electronics Group, particularly, our Orbit Instrument Division. Bookings for this Division for the trailing twelve months ending June 30, 2015 have surpassed bookings for any calendar year in over 15 years. As a result, delivery schedules for our Electronics Group have firmed up and we expect revenue levels for the remaining three quarters of 2015 to exceed those reported in the first quarter. Furthermore, the Company is currently working on new pro...