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Orbit International Corp. Receives Contract in Excess of $1,050,000 to Support UYQ-21 Console

^{Published on 2010-11-18 05:50:52 - 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 in excess of $1,050,000 from a leading global defense electronics prime contractor for the manufacture of a Console Intercommunication Unit (CIU). This upgrade program provides the U.S. Navy fleet with a functional replacement CIU available for all UYQ-21 consoles. Deliveries under this contract are expected to commence in the second quarter of 2011, and continue through the fourth quarter of 2011.

Dennis Sunshine, Orbita™s President and Chief Executive Officer, commented, aOur Orbit Instrument Division began producing and delivering CIUs almost 40 years ago for the U.S. Navy. Over the years, we have delivered in excess of 4,000 units. CIUs have served as an integral part of U.S. Navy ships built with UYQ-21 and certain UYQ-70 combat system consoles as their Naval Tactical Display System. The manufacture of this new CIU configuration will be seamless and transparent to the operator.a

Sunshine concluded, aThis CIU, together with our redesigned Color Programmable Entry Panels, represent two mission critical components that have replaced our original hardware with new state-of-the-art unit capabilities, enabling UYQ-21 fleet deployed consoles to continue to operate 24/7 on an extended life basis. The Naval Tactical Display System has served as the backbone of U.S. and Foreign Military navies throughout the world for decades. UYQ-21 consoles will remain as a platform solution for certain U.S. Navy surface ships as their service is extended.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.