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Orbit International Receives Contract for U.S. Navy Prototype MK 110 Signal Data Converter Valued in Excess of $275,000

^{Published on 2010-12-03 07:11:45 - Market Wire}
 

HAUPPAUGE, N.Y.--([ BUSINESS WIRE ])--Orbit International Corp. (NASDAQ: ORBT), an electronics manufacturer and software solution provider, today announced that its Electronics Group has received a prototype award from a U.S. Navy Procurement Agency valued in excess of $275,000 for the MK 110 Signal Data Converter (SDC). This recent award was received by the Companya™s Integrated Combat Systems, Inc. (aICSa) subsidiary located in Louisville, Kentucky. Deliveries under this contract award are expected to commence in the first quarter of 2011 and conclude in the second quarter of 2011.

The MK 110 SDC is an unmanned, environmentally-isolated shipboard enclosure that houses a standard 19 inch electronics rack containing processors, electronic devices, cooling and power conditioning equipment that perform processing, interfacing and data extraction functions designed to meet the most stringent U.S. Navy operational systems requirements. The MK 110 SDC is a critical item of the Gun Computer System installed in Arleigh Burke Class U.S. Navy Destroyers.

Julie McDearman, ICSa™s Director of Engineering and Logistics commented, aWe are delighted to announce the contract award for the prototype SDC and appreciate the opportunity provided to us by the U.S. Navy. Our experienced team of engineers and logisticians are prepared to meet the challenges of developing the prototype SDC. The knowledge gained through the execution of this prototype effort will be invaluable when we bid on the production version of the SDC in 2011. We continue to believe that the ICS business model for continued growth of custom systems integration blended with logistics support will lead to new business opportunities in the marketplace.a

Dennis Sunshine, Orbita™s President and Chief Executive Officer commented, aCritical multi-year U.S. Navy programs are underway and are designated and funded to upgrade and modernize the current U.S. Navy fleet. We recently announced that ICS received significant contract awards for its MK 119 and MK 437 product lines and noted that there were additional opportunities that we were pursuing. This prototype award represents a success in the pursuit of these opportunities plus offers the potential for production orders next year.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.