HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Orbit International Corp. (NASDAQ:ORBT) today announced that its Power Group, through its Behlman Electronics, Inc. (“Behlman”) subsidiary, received an order in its commercial division for a power supply used in oil and gas exploration valued at $1,359,800. Behlman has been supplying its customer with this unit since 1995 and to date Behlman has shipped over 1600 units. Deliveries under this contract are expected to begin in the first quarter of 2013 and continue through the first quarter of 2014.
Ron Storm, President of Behlman Electronics commented, “Behlman’s ability to operate in niche markets explains our continued success during these challenging economic times. Our commitment to being a power solutions provider has allowed Behlman to uncover these types of long-term production programs, enabling us to build a strong base of repeat business which has been a key factor in our sales growth. As a result, we remain confident that our business will remain strong for the balance of this year and in 2013.”
Mitchell Binder, President and CEO of Orbit International commented, “We are very encouraged by this order and the potential for future business in the oil and gas exploration market. 2012 has been a strong year of bookings for Behlman, mostly coming from its COTS division for follow-on orders on legacy programs. This order greatly improves our year-to-date commercial bookings, which bodes well for continued improvement in the operating performance for our Power Group. Most of Orbit’s recent large orders have come from our Power Group; however, our Electronics Group has several outstanding proposals for equipment on legacy programs and we expect to book several significant orders before year-end or in the first quarter of 2013.”
Orbit International Corp. is involved in the manufacture of customized electronic components and subsystems for military and nonmilitary government applications through its production facilities in Hauppauge, New York, and Quakertown, Pennsylvania; and designs and manufactures combat systems and gun weapons systems, provides system integration and integrated logistics support and documentation control at its facilities in Louisville, Kentucky. Its Behlman Electronics, Inc. subsidiary manufactures and sells high quality commercial power units, AC power sources, frequency converters, uninterruptible power supplies and COTS power solutions.
Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company including, statements regarding our expectations of Orbit’s operating plans, deliveries under contracts and strategies generally; statements regarding our expectations of the performance of our business; expectations regarding costs and revenues, future operating results, additional orders, future business opportunities and continued growth, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although Orbit believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.
Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond Orbit International's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact Orbit International and the statements contained in this news release can be found in Orbit's filings with the Securities and Exchange Commission including quarterly reports on Form 10-Q, current reports on Form 8-K, annual reports on Form 10-K and its other periodic reports. For forward-looking statements in this news release, Orbit claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Orbit assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.