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© mariusz szachowski dreamstime.com Electronics Production | November 06, 2014

Orbit International receives new orders

Orbit International's electronics group has received follow-on orders for its products on several legacy programs totaling over USD 1.3 million.
One of the orders, valued at approximately USD 400'000, is a follow-on order for a flat panel display used on a U.S. Navy program for anti-submarine warfare. The other new awards received by the electronics group in October consist of orders for flat panel displays, Remote Control Units (RCUs) and other legacy products. Deliveries are scheduled to commence in the first quarter of 2015 and continue through the third quarter of 2016.

Mitchell Binder, President and CEO of Orbit International commented, "As we have previously announced, our Electronics Group had been anticipating several follow-on awards for its legacy products. These contracts received in the month of October represent only a portion of these anticipated awards. The Company is still anticipating other significant awards which it hopes to receive by year end and along with these recent bookings, our delivery schedules for 2015 continue to improve. While these repeat orders are significant, we remain focused on developing new program opportunities as well as reducing our costs to maximize our operating margins in this difficult business environment."
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