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Orbit International's Electronics Group Receives New Production Order Totaling in Excess of $750,000
Orbit International's Electronics Group Receives New Production Order Totaling in Excess of $750,000.
About this update from Orbit International Corp.
[{"type":"text","content":"\n \n \n Orbit International's Electronics Group Receives New Production Order Totaling in Excess of $750,000\n \n \nOrbit International's Electronics Group Receives New Production Order Totaling in Excess of $750,000\n\nFirst Quarter Consolidated Bookings Currently in Excess of $8,000,000\n\n \n HAUPPAUGE, NY--(Marketwired - Mar 22, 2016) - Orbit International Corp. (OTC PINK: ORBT), an electronics manufacturer and software solutions provider, today announced that its Electronics Group has received a new production order for its Touch Control Communications Station from the U.S. Navy totaling in excess of $750,000. Deliveries are expected to commence in the fourth quarter of 2016 and continue through the second quarter of 2017. \n Mitchell Binder, President and CEO of Orbit International, commented, \"This contract represents an initial production order for our newly designed Touch Control Communications Station and follows the engineering contract we initially received for this effort in the fourth quarter of 2015. This contract again demonstrates our success in working with our customer as a solution provider to engineer new products in gaining access to new mission critical programs. The order also comes on the heels of very strong booking months in January and February. As a result, with this latest order, consolidated bookings for our first quarter of 2016 have already well exceeded $8,000,000.\" \n Binder continued, \"Our Electronics Group has gotten off to a very strong start to 2016 and this latest order further strengthens our projected delivery schedules for the second half of 2016 and first quarter of 2017. Our recently reported strong fourth quarter results exemplified our operating leverage as we have significantly cut our costs over the past two years and continue to strive to improve our revenues. We continue to have several new opportunities in our bid pipeline for our Electronics and Power Groups; both for follow-on contracts on existing programs and for new orders, particularly utilizing our new VPX technology.\" \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 Hauppauge, NY...