Impressive September Bookings for Orbit International Corp

Strong September Performance for Orbit International’s Power Group

Orbit International Corp. (OTC Expert Market: ORBT), a renowned electronics manufacturer and software provider, has announced remarkable bookings exceeding $1,800,000 for its Orbit Power Group (OPG) during September 2024. This figure reflects a total of over $2,800,000 in bookings for the third quarter. With deliveries already underway, the company is set to fulfill these orders through the fourth quarter of 2025.

Highlights of September Orders

The month of September featured a major follow-on order for a commercial off-the-shelf (COTS) power supply, valued at approximately $1,450,000, specifically designed for use in nuclear power plants. Additionally, continued demand was observed for Orbit’s VPX power supplies, alongside other orders for COTS and commercial power supplies.

Leadership Insights on Recent Success

Mitchell Binder, the President and CEO of Orbit International, expressed his enthusiasm regarding the strong bookings for the Power Group during the third quarter. He noted the significance of a large order for COTS power supplies and highlighted a 27.1% increase in orders for VPX power supplies compared to the entirety of 2023.

Focus on New Opportunities

Furthermore, Binder pointed out that both the Orbit Electronics Group (OEG) and their Simulator Product Solutions LLC (SPS) subsidiary are actively pursuing numerous new and follow-on business opportunities. Some expected orders had faced delays during the third quarter but are now anticipated to be awarded in the fourth quarter, a common occurrence with U.S. Government contracts.

Overview of Orbit International’s Capabilities

Located in Hauppauge, NY, with additional facilities in Carson, CA, Orbit International Corp. is deeply involved in developing and manufacturing custom electronic device and subsystem solutions tailored for military, industrial, and commercial applications. The Power Group, also based in Hauppauge, specializes in designing and manufacturing an extensive range of power products, including AC power supplies, frequency converters, inverters, VME/VPX power supplies, and various COTS power sources.

Understanding Forward-Looking Statements

This announcement includes certain statements that may be termed forward-looking, referring to the company’s expectations about operating plans, performance, and future business prospects. While these statements are based on reasonable assumptions, Orbit International acknowledges the inherent risks and uncertainties that could cause actual results to vary significantly from those projected. Such risks are outlined in Orbit's reports available through the OTC Disclosure and News service.

Keeping Stakeholders Informed

Orbit International Corp remains committed to transparency and keeping stakeholders informed. The company will not only uphold its operational strategies but also adapt to emerging market trends and customer demands to ensure consistent growth.

Frequently Asked Questions

What were the total bookings for Orbit International in September 2024?

Orbit International reported total bookings exceeding $1,800,000 for September 2024.

What type of orders contributed to the September bookings?

The bookings were largely driven by a follow-on order for a COTS power supply used in nuclear power plants and ongoing demand for VPX power supplies.

How does the September performance compare to previous periods?

The bookings represent a significant delivery flow and are indicative of a 27.1% increase in orders for VPX power supplies compared to all of 2023.

What is the expected timeline for order deliveries?

Deliveries for the received orders have commenced and are expected to continue through the fourth quarter of 2025.

Who can be contacted for more information?

David Goldman, the Chief Financial Officer, can be reached at 631-435-8300 for any inquiries regarding the company's financial performance.

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