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Orbit International Corp., an electronics manufacturer and software solution provider, today announced that its Electronics Group has received a finalized purchase order from a major prime contractor for approximately $1,060,000, for its switch panels. The company initially received a letter contract in June 2016 for $275,000 to commence the procurement of material while negotiations were ongoing for the final purchase order. Deliveries of the completed units are expected to commence in the fourth quarter of 2016 and continue through the second quarter of 2017.
“The letter contract provided our company funding in order to begin the procurement process to enable us to meet initial deliveries in the fourth quarter of 2016. Upon receiving the letter contract in June, we expected the final purchase order to be in excess of $1,000,000 and we are pleased the final contract approximated $1,060,000,” Mitchell Binder, president and CEO of Orbit International, commented. “This continues the significant momentum of orders that have been received by our Electronics Group since the beginning of the year which has well positioned our Electronic Group's delivery schedules, particularly for the first half of 2017. We continue to carefully manage our costs and this order will help to drive our revenue as we take advantage of our operating leverage to further improve our operating performance.”
About Orbit International
Orbit International Corp., through its Electronics Group, is involved in the manufacture of customized electronic components and subsystems for military and nonmilitary government applications through its production facility in Hauppauge, New York. Orbit's Power Group, also located in Hauppauge, NY, designs and manufactures a wide array of power products including AC power supplies, frequency converters, inverters, uninterruptible power supplies, VME/VPX power supplies as well as various COTS power sources. The Company also has a sales office in Newbury Park, CA and a facility in Louisville, KY dedicated to the design and manufacture of gun weapons systems as well as VME/VPX solutions including backplanes, health monitors, air transport racks and components.