Significant Consolidated Bookings Reported by Orbit International
Strong August Performance by Orbit International Corp
Orbit International Corp. (OTCID Basic Market:ORBT) has reported impressive consolidated bookings of around $2,400,000 for the month of August. This noteworthy achievement highlights the company's steady growth and robust demand for its products and solutions.
Details of Consolidated Bookings
The significant bookings were largely driven by the Orbit Power Group (OPG), which alone generated more than $1,700,000. This includes a notable follow-on order valued at approximately $1,000,000 for a commercial power supply designed for military applications. Deliveries for these orders commenced promptly and are expected to continue into the fourth quarter of 2026.
CEO Insights
Mitchell Binder, the President and CEO, expressed satisfaction with these results, stating, "We are delighted to report strong bookings of approximately $2,400,000 for August. The performance is primarily due to our OPG, which had an exceptional month of bookings, including the significant follow-on order mentioned earlier."
Future Outlook
In addition to OPG’s strong performance, the Simulator Products Solutions LLC (SPS) subsidiary also reported promising bookings last month. This team is actively pursuing several bidding opportunities, which they anticipate may convert into new orders soon. Furthermore, the company is keenly looking at various new and follow-on bids related to VPX power supplies.
Anticipated Contracts
There is anticipation regarding a substantial award expected during the current quarter for a legacy program related to the U.S. Navy. While the precise timing for award notifications remains uncertain, the company is optimistic regarding the prospects outlined.
Company Profile
Orbit International Corp. is a leading player engaged in the development and production of specialized electronic devices and subsystems tailored for military, industrial, and commercial applications. With production facilities strategically located in Hauppauge, NY, and Carson, CA, the company actively serves various sectors. Their power products, which include VPX and COTS power supplies, are designed and manufactured by the Orbit Power Group, also situated in Hauppauge, NY.
Committed to Growth and Innovation
Orbit International remains focused on enhancing its market presence and expanding its product offerings. The company’s dedication to innovation and quality has set a strong foundation for future growth.
Ongoing Opportunities
As they continue to secure new contracts and fulfill existing orders, Orbit International is hopeful that the strong momentum in bookings will translate to increased order flow for the remaining year.
Frequently Asked Questions
What were Orbit International's consolidated bookings for August?
The consolidated bookings for August were approximately $2,400,000.
What was the main contributor to the bookings?
The main contributor was the Orbit Power Group, which had bookings exceeding $1,700,000.
What types of products does Orbit International manufacture?
Orbit specializes in custom electronic devices and subsystem solutions for military, industrial, and commercial applications.
What is the company’s outlook for future bookings?
Orbit International is optimistic about increasing order flow based on current bidding opportunities and existing market demand.
Who can be contacted for more information?
For inquiries, David Goldman, Chief Financial Officer, can be reached at 631-435-8300.
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