© grzegorz kula dreamstime.com Electronics Production | April 01, 2013
Orbit International receives $700'000 order
Orbit International announces that its Orbit Instrument Division,received an order for Remote Control Units (RCU) valued at approximately USD 700'000. Deliveries are scheduled for Q1 of 2014.
This order is part of a Memorandum of Agreement (MoA) signed in August 2011. Including this award, RCU orders received during the current first quarter under this MoA total approximately $1.9 million. As per the terms of this MoA, the Company should receive additional follow-on orders throughout 2013 to fulfill requirements for the U.S. Navy and U.S. Army. Orbit is the key U.S. producer of the RCU, a controller used by the pilot or other on-board personnel to control the IFF (Identity Friend or Foe) transponder and determine if the aircraft in question is friendly. Since 2000, the RCU program has generated significant ongoing revenues for Orbit via the receipt of multiple follow-on orders for more than 4,000 units for various configurations. Mitchell Binder, President and CEO of Orbit International, commented, “We are pleased that the RCU program remains a significant revenue contributor for Orbit. Our manufacturing operation is working to accommodate our customer’s request to accelerate deliveries of this product during 2013. Furthermore, our Electronics Group continues to pursue additional follow-on orders on certain other legacy programs while activity for proposals related to new opportunities have increased as well. However, common to our industry, timing of the receipt of any new awards remains an uncertainty.”