Record Bookings for Orbit International's Power Group
Orbit International Corp. has proudly announced that its Power Group achieved bookings exceeding $1,000,000 for the month of November. This positive news marks a significant milestone for Orbit as the demand for their high-quality electronic solutions continues to grow.
Strong Demand for VPX Power Supplies
In November, the overwhelming demand for VPX power supplies highlighted the success of the Power Group. Orders for VPX power supplies contributed more than $700,000 to the total bookings, boosting the Power Group's annual bookings to over $4.5 million for the eleven-month period leading up to the end of November.
Mitchell Binder, the President and CEO of Orbit International, expressed optimism regarding the company's performance, noting that the current year's bookings for VPX power supplies have already exceeded previous years by a striking 77%. This growth underscores the increasing reliance on advanced power solutions in various applications.
Response to Legal Developments
Recently, the company was informed of a verified complaint filed concerning the Contribution and Operating Agreements related to the acquisition of Simulator Product Solutions LLC. The complaint alleges additional amounts owed, but Orbit International firmly believes it has met contractual obligations and plans to contest the claims made against it.
Innovative Electronics Manufacturing
Orbit International's commitment to quality is evident in its Electronics Group, which engages in the development and manufacture of specialized electronic devices for military, industrial, and commercial use. The production facilities, strategically located in Hauppauge and Carson, enhance their capability to deliver innovative solutions.
Diverse Product Offerings
Located in Hauppauge, NY, the Power Group designs a wide array of power products, including AC power supplies, frequency converters, inverters, and VME/VPX power supplies. Their adaptability allows them to cater to both commercial and military markets effectively.
Commitment to Growth and Development
The company is focused on future growth opportunities. While the industry faces challenges, Orbit International is dedicated to delivering superior value to its customers, reflecting their resilience in the competitive market.
Frequently Asked Questions
What were Orbit International's total bookings for November?
The total bookings for November exceeded $1,000,000, showcasing significant demand for their power solutions.
What specific products contributed to these bookings?
Orders for VPX power supplies significantly contributed over $700,000 to the month's total bookings.
How has the demand for VPX power supplies changed from last year?
Demand increased dramatically, with bookings for VPX power supplies approximately 77% higher than those for all of 2023.
Is Orbit International involved in any legal matters?
Yes, there is a verified complaint concerning the Contribution and Operating Agreements related to the SPS acquisition, which the company intends to contest.
What types of products does Orbit International manufacture?
Orbit International manufactures custom electronic devices and subsystems, including AC power supplies, frequency converters, inverters, and various power sources.
