Business
Orbit International’s Power Group Reports Bookings in Excess of $1,000,000 for Month of October
Orbit International’s Power Group Reports Bookings in Excess of $1,000,000 for Month of October.
About this update from Orbit International Corp.
[{"type":"text","content":"\n HAUPPAUGE, N.Y., Nov. 04, 2020 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC PINK:ORBT), an electronics manufacturer and software solution provider, today announced that bookings for its Power Group (“OPG”), through its Behlman Electronics, Inc subsidiary, exceeded $1,000,000 for the month of October 2020. Bookings for the month for the OPG were highlighted by approximately $500,000 of VPX power supplies; other orders received during the month were for COTS and commercial power supplies. Deliveries for certain of these orders have already commenced and are expected to continue through the third quarter of 2021. Mitchell Binder, President and CEO of Orbit International commented, “This relatively strong booking month for our OPG comes on the heels of solid third quarter bookings of approximately $3,400,000 for this segment. We are encouraged that bookings for our VPX products picked up during the third quarter and has continued with $500,000 of bookings during the month of October. Along with production awards, we received prototype awards for new VPX opportunities and hope for follow-on production awards from these customers prior to year-end, although the timing of these awards is an uncertainty.” Binder added, “Aside from the relative strength of our defense related work, our OPG also provides power supplies for oil and gas exploration and test and measurement applications and continues to experience weakness in this end of the business. Our commercial business has been weak since the beginning of the pandemic and may remain weak until the economy begins to fully recover. Our production lines returned to normal for most of the third quarter and assuming no unforeseen events from a situation that continues to evolve, including the possibility of another disruption caused by a second wave of the pandemic, we expect our normal production schedules to continue as we meet our delivery schedules to support our customers’ needs.” 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, de...