Business
Orbit International’s Electronics Group Receives Purchase Order for Approximately $2,300,000
Orbit International’s Electronics Group Receives Purchase Order for Approximately $2,300,000.
About this update from Orbit International Corp.
[{"type":"text","content":"\n HAUPPAUGE, N.Y., Feb. 25, 2020 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC PINK:ORBT), an electronics manufacturer and software solution provider, today announced that its Electronics Group (”OEG”) has received a purchase order from a major prime contractor for approximately $2,300,000, for keyboards used on a major military aviation program.  Deliveries under this contract are expected to commence in the fourth quarter of 2020 and continue through the first quarter of 2022. Mitchell Binder, President and CEO of Orbit International commented, “In December 2019, we reported that we received a significant award for displays used on a military aviation program.  This award completes the suite of equipment that we provide for the same aviation program, which brings the total orders for this equipment to over $4,000,000. This follow-on multi-year award will lay a strong foundation to the delivery schedules for our OEG beginning in the fourth quarter of 2020 and extending through the end of 2022.”  Binder added, “These orders from our OEG complement the increase in bookings from our Power Group (”OPG”) that we have reported over the last several months of 2019 highlighted by the consistent receipt of new orders for products utilizing our VPX technology and for commercial power supplies as well as two large orders received for our Common Aircraft Armament Test Sets (“CAATS”).  Among the commercial power supply orders are new awards for power supplies used for oil and gas exploration.  An award for approximately $260,000 was received this month, which, brings total oil and gas bookings to in excess of $1,650,000 over the last 18-month period.” Orbit International Corp., through its Electronics Group, including its recently acquired Q-Vio subsidiary, is involved in the development and manufacture of custom electronic device and subsystem solutions for military, industrial and commercial applications through its production facility in Hauppauge, New York.  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, uninterruptible power supplies, VME/VPX power supplies as well as various COTS power sources.  The Comp...