Business
Orbit International’s Electronics Group Reports Consolidated Bookings in Excess of $2,000,000 for Month of November 2018
Orbit International’s Electronics Group Reports Consolidated Bookings in Excess of $2,000,000 for Month of November 2018.
About this update from Orbit International Corp.
[{"type":"text","content":"\nHAUPPAUGE, N.Y., Dec. 06, 2018 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC PINK:ORBT), an electronics manufacturer and software solution provider, today announced that consolidated bookings for its Electronics Group (“OEG”) and Power Group (‘OPG) exceeded $2,000,000 for the month of November 2018.\n Bookings for the month of November were highlighted by an approximately $610,000 order received by the OEG for a display used on a major military aviation program.  In addition, the OEG received additional awards for a control panel and a keyboard, one of which represents a new opportunity from a new customer, on a well-established aviation program with projected follow-on opportunities over the next several years.  In addition, the Company’s OPG received a second award for approximately $220,000 for oil and gas exploration.  Other orders received during the month were for COTS and commercial power supplies.  Deliveries for the awards received during November are expected to commence in the first quarter of 2019 and continue through the fourth quarter of 2019. Mitchell Binder, President and CEO of Orbit International, commented, “This solid consolidated booking month comes on the heels of a strong booking month from our OEG in the month of October.  We are expecting additional orders for the month of December that, if received, would complete a strong booking quarter for our Company. However, the timing of the receipt of these additional awards is an uncertainty and for unforeseen reasons, some of these bookings could fall into 2019.” Binder continued, “Our OPG continues to receive orders utilizing its VPX technology and bids for new VPX opportunities continue to accelerate although all opportunities remain at the pre-production stage. One VPX order that we are expecting in the month of December is for VPX qualification units from a large prime contractor that has projected several years of additional follow-on orders.” Orbit International Corp., through its Electronics Group, is involved in the development and manufacture of custom electronic device and subsystem solutions for military and nonmilitary government applications through its production facility in Hauppauge, New York.  Orbit’s Power Group, also located in Hauppauge, NY, designs a...