Today before the opening
bell, Orbit International reported its Orbit Power Group, through its
subsidiary Behlman Electronics, Inc., had received new follow-on orders valued
at over $770,000.
The first order is for a
COTS power supply, which is tied to an ongoing missile system upgrade program
that Behlman Electronics received its first order for in 2009. This first order
is valued at $654,000. Overall, Behlman Electronics’ orders for the program now
total over $3.5 million. It is expected that deliveries will begin in Q3 2014
and continue until Q1 2015. Behlman Electronics also anticipates additional
orders in 2014 based on information provided by the client.
Behlman Electronics’ second
order is a follow-on order for a COTS power supply used on a water purification
system on a US Navy guided missile destroyer. Deliveries have been scheduled
for Q4 2014.
Ron Storm, President of
Behlman Electronics commented, “Despite challenging economic conditions,
Behlman’s COTS division continues to generate both new and repeat orders for
its products. Behlman continues to work with major contractors developing power
solutions for commercial and military programs which should continue to provide
many years of follow-on business.”
Mitchell Binder, President
and Chief Executive Officer of Orbit International commented, “This is our
second order in 2014 for this COTS power supply in support of an ongoing
missile program. These two contracts approximated $1,429,000 with additional
orders expected in 2014. Despite difficult industry conditions, bookings for
our COTS division have improved over the prior year. Also, in our Electronics
Group, we have had a significant increase to our proposal pipeline,
particularly our legacy business, but the timing of actual orders remains
uncertain. In addition, we continue to carefully monitor our costs in order to
maximize our operating margins.”
For more information about
Orbit International, its products, and its initiatives, visit: www.orbitintl.com
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