Orbit International receives new orders worth $1.3 million

Deliveries are expected to commence in the second quarter of 2016 and continue through the fourth quarter of 2016. Ken Ice, President of the Orbit Electronics Group commented, "We had previously announced the award for the development of a new HCI application in the fall of 2014 and received an initial production order for this new HCI application in the second quarter of 2015. One of the new orders, for approximately $450,000, represents additional production efforts for this new HCI product. Additional follow-on orders are expected in 2016. The second new order, for approximately $665,000 is a follow-on order for a display on a significant program for the U.S. Navy. Finally, the last award is a follow-on award for a keyboard for the U.S. Navy." Mitchell Binder, President and CEO of Orbit International commented, "These awards come on the heels of a strong booking month for November, highlighted by an order for our Power Group in excess of USD 1,870,000 for a COTS power supply. In addition to these awards for our Electronics Group, we are currently in negotiation with our customers for an additional two new awards which may be booked prior to year end although timing is always an uncertainty. With our significant cost cutting implemented to date, we continue to strive for additional revenue dollars to take advantage of our operating leverage, thereby improving our operating margins."