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Orbit Internationala?s Power Group Receives New Order Valued at $1,742,000

^{Published on 2010-09-14 05:50:26 - Market Wire}
 

HAUPPAUGE, N.Y.--([ BUSINESS WIRE ])--Orbit International Corp. (NASDAQ:ORBT), a defense and industrial electronics manufacturer, systems integrator and software solution provider, today announced that its Power Group, Behlman Electronics, Inc. (aBehlmana), has received a $1,742,000 order for its COTS Division. This new award is for a COTS power supply used in a U.S. Naval anti-submarine and anti-ship surveillance and targeting system. Deliveries under this contract are expected to commence in the fourth quarter of 2010 and continue through the fourth quarter of 2011.

This order represents the exercise of the fifth and final option of an order that was originally negotiated in December 2006. At the customera™s request, Behlman has quoted a follow-on multi-year order for the same program which could lead to continuous production equal to this current order on an annual basis through the year 2016.

Mark Tublisky, President of Behlman commented, aThis is the second major order Behlman has received for a COTS power supply during the current quarter. In addition, our commercial division has been steadily improving throughout the year and bookings from both divisions have increased from last year. We continue to distinguish ourselves from our competition by providing effective and cost-efficient solutions to our customera™s power problems, thereby becoming the selected supplier for power units on many commercial and military programs which have and should continue to generate many years of repeat business.a

Dennis Sunshine, President and Chief Executive Officer of Orbit International Corp. commented, aBehlmana™s ability to operate in both the commercial and military COTS marketplace has enabled its business to remain strong despite weak economic conditions over the last two years. In addition to its increasing order flow from these customers, we are beginning to see a resumption of activity from our major oil and gas exploration customers which should provide an additional layer of new orders in the coming months. Because of the new orders we recorded year-to-date and other awards that we expect to receive in the coming quarters, Behlman is poised for a strong second half of 2010 and is becoming increasingly well-positioned for continued gains in 2011.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 proposal or a strategic alternative thereto may be considered or consummated; statements regarding the Companya™s expectations of its operating plans, deliveries under contracts and strategies generally; statements regarding its expectations of the performance of 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.