Science & Technology
Tue, June 8, 2010Mon, June 7, 2010Sun, June 6, 2010Sat, June 5, 2010Fri, June 4, 2010Thu, June 3, 2010Wed, June 2, 2010Tue, June 1, 2010Mon, May 31, 2010Orbit International Receives Contract Valued in Excess of $535,000 for Mobile Display Terminal Used in Commercial Mass Transit
Published in Science and Technology on Thursday, June 3rd 2010 at 18:00 GMT by Market Wire
HAUPPAUGE, N.Y.--([ BUSINESS WIRE ])--Orbit International Corp. (NASDAQ:ORBT), a defense electronics manufacturer, systems integrator and software solution provider today announced that its Electronics Group has received a contract valued in excess of $535,000 for its color Mobile Display Terminal (MDT). This award was received from a leading transportation management company that has been providing transit solutions for over 40 years, and currently operates in over 200 cities around the world. Deliveries under this contract are expected to commence in the third quarter of 2010 and continue through year-end.
The MDT display, designed and manufactured by the Companya™s TDL subsidiary located in Quakertown, PA, supports on-board systems information for operators of commercial mass transit systems. The MDT includes a switch matrix bezel that allows a driver or operator to transmit and receive real-time tracking and transportation data using a 6.4 inch color display that forms part of a system used to monitor a citya™s fleet of mass transit vehicles. A citya™s control center, using satellites and radio transmitters, is able to monitor the location and status of its entire mass transit fleet, allowing for optimal vehicle communications, including all information for efficient fleet service.
David Gutman, President of TDL commented, aThe MDT is a successful, proven display that has supported a number of municipal transit systems throughout the country. TDL previously designed both the monochrome and color displays for a different mass transit service provider, which has since withdrawn from this business. We are delighted these new color MDTs have been selected for implementation by a global customer that has years of success in the production of comprehensive, consistent solutions for vehicle tracking, traveler information and operations control in the field of public transit services.a
Dennis Sunshine, President and CEO of Orbit commented, aThis new order is a confirmation of the outstanding quality of products designed and manufactured by our TDL subsidiary. We are confident that additional cities will recognize the safety and security advantages of the MDT system, and we look forward to re-establishing this stream of revenue from new and upgraded mass transit systems throughout the world.a
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, but not limited to, statements regarding any acquisition proposal and/or the potential sale of the Company and whether such acquisition proposal, potential sale or a strategic alternative thereto may be considered or consummated; statements regarding our expectations of Orbita™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.
