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Orbit International's Electronics Group Receives Three Follow-On Production Orders Totaling in Excess of $1,600,000
Orbit International's Electronics Group Receives Three Follow-On Production Orders Totaling in Excess of $1,600,000.
About this update from Orbit International Corp.
[{"type":"text","content":"\n \n \n Orbit International's Electronics Group Receives Three Follow-On Production Orders Totaling in Excess of $1,600,000\n \n \nOrbit International's Electronics Group Receives Three Follow-On Production Orders Totaling in Excess of $1,600,000\n\nFirst Quarter Consolidated Bookings Currently in Excess of $6,000,000\n\n \n HAUPPAUGE, NY--(Marketwired - Feb 9, 2016) - Orbit International Corp. (PINKSHEETS: ORBT), an electronics manufacturer and software solutions provider, today announced that its Electronics Group has received three new follow-on production orders for its switch panels and keyboards valued in excess of $1,600,000. Deliveries are expected to commence in the third quarter of 2016 and continue through the first quarter of 2017. \n Mitchell Binder, President and CEO of Orbit International commented, \"These contracts all represent follow-on awards for our products for which we have been supporting our customers' needs on their respective programs for many years. These orders come on the heels of a very strong booking month in January which was in excess of $4,600,000. Consequently, with these latest orders, consolidated bookings for our first quarter of 2016 have already well exceeded $6,000,000.\" \n Binder continued, \"These latest orders have furthered strengthened our projected delivery schedules for the second half of 2016 and first quarter of 2017. Over the past two years, we have significantly cut our costs and are well positioned to take advantage of our operating leverage as we strive for additional revenue dollars, thereby improving our operating margins. We have several new opportunities in our bid pipeline for both our Electronics and Power Groups, some of which are still expected in this first quarter although timing is always an uncertainty.\" \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, 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 Company also has a sales office in Newbury Par...