© mariusz szachowski dreamstime.com Electronics Production | May 05, 2015
Orbit International receives new orders totaling over $1M
Orbit International's Electronics Group has received new and follow-on orders for its products on several programs in the month of April totaling over USD 1'000'000.
Orders for April were highlighted by a contract award for Orbit's Remote Control Units in excess of USD 650'000 representing requirements for both the U.S. Navy and U.S. Army. Deliveries for this contract and other awards received during April are scheduled to commence in the third quarter of 2015 and continue through the fourth quarter of 2015. Ken Ice, President of the Orbit Electronics Group commented, "This recent order for Remote Control Units is significant and we anticipate additional follow-on orders later this year. We are continuing our focus on developing new program opportunities, many of which are with our existing customer base. Accordingly, our bid and proposal pipeline is expanding and is also being enhanced by our VMEVPX.com product portal." Mitchell Binder, President and CEO of Orbit International commented, "With this significant award for Remote Control Units and the other contracts received during the month, our Electronics Group has continued a strong period of bookings beginning with the second half of 2014. As a result, delivery schedules for our Electronics Group, beginning in the current second quarter of 2015 are firming up. Furthermore, the Company is currently in the qualification stage of new products which we expect will lead to additional awards later in 2015. However, timing of all awards still remains an uncertainty, particularly in this business and budget environment.