Business
Orbit International's Power Group Receives New Order Totaling Approximately $1,790,000
Orbit International's Power Group Receives New Order Totaling Approximately $1,790,000.
About this update from Orbit International Corp.
[{"type":"text","content":"\n HAUPPAUGE, N.Y., Aug. 20, 2020 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC PINK:ORBT), an electronics manufacturer and software solution provider, today announced that its Power Group (OPG), through its Behlman Electronics, Inc. subsidiary (“Behlman”), received a new order for power supplies valued at approximately $1,790,000 for its COTS division. Deliveries are scheduled to commence in the second quarter of 2021 and continue through the first quarter of 2022. Mitchell Binder, President and CEO of Orbit International commented, “This award has Behlman returning to its role as a subcontractor for the manufacture of power supplies on an armament test system program. Over the past several years, Behlman served as the prime contractor on this program and received small business set aside awards totaling in excess of $21,000,000. For those awards, the shipment and delivery of those units required many aspects of production and testing to be offloaded to subcontractors and, as a result, gross margins for the contract were considerably lower than our historical margins. For this award, we will return to the higher margins that we typically realize on our other production work.” Binder added, “This award is the largest award received by our OPG in the current year. Our customer has informed us that this award will be used for foreign military sales and follow-on orders are expected although the timing of these additional awards is an uncertainty. Aside from this award, our OPG COTS division has had a firm year in bookings. Bookings for power supplies utilizing our VPX technology was less than expected in the first half of 2020. However, new awards, some of which had been delayed, have been received since July 1, 2020. Furthermore, we expect many of the awards we had been expecting for this product line to be received throughout the remainder of the year.” Orbit International Corp., through its Electronics Group including its new 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,...