Orbit International Corp. Reports 2024 First Quarter Results
HAUPPAUGE, N.Y., May 20, 2024 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC Expert Market:ORBT) today announced results for the first quarter ended March 31, 2024.
- First Quarter 2024 Net Loss of $751,000 ($0.22 loss per share) v. Net Loss of $1,117,000 ($0.33 loss per share) in Prior Period
First Quarter 2024 EBITDA, as adjusted, was a loss of $551,000 ($0.16 loss per share) v. loss of $1,134,000 ($0.34 loss per share) in Prior Period
HAUPPAUGE, N.Y., May 20, 2024 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC Expert Market:ORBT) today announced results for the first quarter ended March 31, 2024. - Our first quarter operating loss for 2024 reflected an improvement from our weak operating results in the comparable period in the prior year.
- However, despite the improvement from SPS, our operating results were negatively impacted by lower sales from our legacy business, which negatively impacted operating results for the quarter.
- 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 reports posted with the OTC Disclosure and News service.