Business
Orbit International’s Power Group Reports Bookings in Excess of $1,000,000 for Month of March 2018
Orbit International’s Power Group Reports Bookings in Excess of $1,000,000 for Month of March 2018.
About this update from Orbit International Corp.
[{"type":"text","content":"\n\n HAUPPAUGE, N.Y., April 04, 2018 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC PINK:ORBT), an electronics manufacturer and software solution provider, today announced that bookings for its Power Group (“OPG”) exceeded $1,000,000 for the month of March 2018.      \n Bookings for the month of March were highlighted by (i) an approximately $427,000 follow-on order received from an international customer for COTS power supplies and (ii) pre-production orders for VPX power supplies approximating $135,000.  Other orders received during the month were for other COTS and commercial power supplies.  Deliveries for the awards received during March are expected to commence in the second quarter of 2018 and continue through the fourth quarter of 2018. Mitchell Binder, President and CEO of Orbit International commented, “Aside from the record bookings in 2017 resulting from the large CAATS orders received in the third and fourth quarters of 2017, bookings for our OPG have slowly increased due to a more aggressive sales strategy implemented by our OPG sales team.  We remain encouraged by the continued pre-production awards received from our VPX customers and are confident that the dollar value of these contracts will grow as these programs move to the production stage.” Binder continued, “In addition to the improved bookings from our OPG, bookings from our Electronics Group (“OEG”) approximated $3,000,000 for the first quarter of 2018 despite the delay of two large orders that are now expected to be received in the second quarter.  In addition, both our business segments are pursuing several new business opportunities and we continue to exercise tight management of our operating costs as we hope to take advantage of our operating leverage to further improve our operating performance.” 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 ...