348th Tactical Electronics Group

Orbit International Reports Consolidated Bookings for October 2023 in Excess of $3,650,000

Retrieved on:

Tuesday, November 7, 2023

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HAUPPAUGE, N.Y., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC Expert Market:ORBT), an electronics manufacturer and software solution provider, today announced that its consolidated bookings for the month of October 2023 were in excess of $3,650,000.

Key Points:

HAUPPAUGE, N.Y., Nov. 07, 2023 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC Expert Market:ORBT), an electronics manufacturer and software solution provider, today announced that its consolidated bookings for the month of October 2023 were in excess of $3,650,000.
Deliveries for the October 2023 orders have already commenced and are expected to continue through the fourth quarter of 2026.
Mitchell Binder, President and CEO of Orbit International commented, “We are pleased to report that consolidated bookings for the month of October 2023 were approximately $3,650,000 with each of our operating units contributing over $1,000,000 in bookings for the month.
Bookings for our Orbit Power Group (“OPG”) were approximately $1,100,000 highlighted by approximately $400,000 in orders for our VPX and COTS power supplies and approximately $650,000 in bookings for commercial power supplies.

Company Announces Cash Dividend of $0.01 Per Common Share for the Third Quarter of 2023

Retrieved on:

Thursday, September 14, 2023

Electronics, Federal, AC, SHI International Corp, Growth, 348th Tactical Electronics Group, Disclosure, News, COTS, Orbit

HAUPPAUGE, NY., Sept. 14, 2023 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC Expert Market:ORBT), an electronics manufacturer and software solution provider, announced today that its Board of Directors has declared a quarterly cash dividend of $0.01 per share.

Key Points:

HAUPPAUGE, NY., Sept. 14, 2023 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC Expert Market:ORBT), an electronics manufacturer and software solution provider, announced today that its Board of Directors has declared a quarterly cash dividend of $0.01 per share.
The declared dividend is payable to shareholders of record as of September 29, 2023, with a payment date of October 6, 2023.
Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected.
Orbit assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

Orbit International Reports Consolidated Bookings for August 2023 in Excess of $4,000,000

Retrieved on:

Friday, September 8, 2023

VPX, Electronics, Federal, AC, SHI International Corp, OEG, Binder, Engineering, Growth, System, SPS, 348th Tactical Electronics Group, Disclosure, News, COTS, Orbit

HAUPPAUGE, N.Y., Sept. 08, 2023 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC Expert Market:ORBT), an electronics manufacturer and software solution provider, today announced that its consolidated bookings for the month of August 2023 were in excess of $4,000,000.

Key Points:

HAUPPAUGE, N.Y., Sept. 08, 2023 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC Expert Market:ORBT), an electronics manufacturer and software solution provider, today announced that its consolidated bookings for the month of August 2023 were in excess of $4,000,000.
Deliveries for the August 2023 orders have already commenced and are expected to continue through the fourth quarter of 2024.
Mitchell Binder, President and CEO of Orbit International commented, “We are pleased to report that consolidated bookings for the month of August 2023 were approximately $4,000,000 with each of our operating units contributing over $1,000,000 in bookings for the month.
Bookings for our Orbit Power Group (“OPG”) were approximately $1,350,000 highlighted by approximately $1,100,000 in orders for our VPX and COTS power supplies.

Orbit International’s Simulator Product Solutions Subsidiary Reports July Bookings of Approximately $1,250,000

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Friday, August 4, 2023

Electronics, Federal, AC, Tenant, SHI International Corp, Binder, Growth, SPS, 348th Tactical Electronics Group, Disclosure, News, COTS, Lease, Orbit

HAUPPAUGE, New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC Expert Market:ORBT), an electronics manufacturer and software solution provider, today announced that bookings from its Simulator Product Solutions LLC subsidiary (“SPS”) for the month of July 2023 were approximately $1,250,000 bringing its year-to-date bookings to approximately $6,900,000, an increase of approximately 27% over the entire 2022 fiscal year. Deliveries for the July 2023 orders are expected to commence in the third quarter of 2023 and are expected to continue through the third quarter of 2024.

Key Points:

HAUPPAUGE, New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC Expert Market:ORBT), an electronics manufacturer and software solution provider, today announced that bookings from its Simulator Product Solutions LLC subsidiary (“SPS”) for the month of July 2023 were approximately $1,250,000 bringing its year-to-date bookings to approximately $6,900,000, an increase of approximately 27% over the entire 2022 fiscal year.
Mitchell Binder, President and CEO of Orbit International commented, “We are pleased to report that bookings from our SPS subsidiary for the month of July 2023 were approximately $1,250,000.
This brings SPS’ year-to-date bookings to approximately $6,900,000, an increase of approximately 27% over the approximately $5,400,000 in bookings for the entire 2022 fiscal year.
Orbit assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

Orbit International’s Simulator Product Solutions Subsidiary Reports June Bookings in Excess of $3,000,000

Retrieved on:

Thursday, July 6, 2023

VPX, Electronics, China General Nuclear Power Group, Federal, AC, Government, SHI International Corp, OPG, Binder, Growth, SPS, 348th Tactical Electronics Group, Disclosure, News, COTS, Orbit

HAUPPAUGE, N.Y., July 06, 2023 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC Expert Market:ORBT), an electronics manufacturer and software solution provider, today announced that bookings from its Simulator Product Solutions LLC subsidiary (“SPS”) for the month of June 2023 were in excess of $3,000,000 and its second quarter bookings were approximately $4,500,000. Deliveries for the June 2023 orders are expected to commence in the third quarter of 2023 and are expected to continue through the second quarter of 2024.

Key Points:

In addition, the Company also announced that bookings for its Power Group (“OPG”) for the month of June were approximately $1,000,000.
Mitchell Binder, President and CEO of Orbit International commented, “We are pleased to report that bookings from our SPS subsidiary for the month of June 2023 were in excess of $3,000,000 and its second quarter bookings were approximately $4,500,000.
Bookings for the month were highlighted by a significant order for power supplies used in oil and gas exploration.
Orbit assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

Orbit International Corp. Electronics Group Receives New Contract Valued in Excess of $2,500,000

Retrieved on:

Wednesday, June 21, 2023

Electronics, Federal, AC, SHI International Corp, Growth, SPS, 348th Tactical Electronics Group, Disclosure, News, COTS, Orbit

HAUPPAUGE, N.Y., June 21, 2023 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC Expert Market:ORBT), an electronics manufacturer and software solution provider, today announced that its Simulator Product Solutions LLC subsidiary (“SPS”), a part of Orbit’s Electronics Group (“OEG”), received a new contract valued in excess of $2,500,000.

Key Points:

HAUPPAUGE, N.Y., June 21, 2023 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC Expert Market:ORBT), an electronics manufacturer and software solution provider, today announced that its Simulator Product Solutions LLC subsidiary (“SPS”), a part of Orbit’s Electronics Group (“OEG”), received a new contract valued in excess of $2,500,000.
Deliveries under the contract are expected to commence in the fourth quarter of 2023 and are expected to continue through the third quarter of 2024.
Mitchell Binder, President and CEO of Orbit International commented, “We are pleased to report this significant contract award by our SPS subsidiary which is for simulator components used on a major military aircraft program.
Orbit assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

Company Announces Cash Dividend of $0.01 Per Common Share for the Second Quarter of 2023

Retrieved on:

Friday, June 9, 2023

Electronics, Federal, AC, SHI International Corp, Growth, 348th Tactical Electronics Group, Disclosure, News, COTS, Orbit

HAUPPAUGE, New York, June 09, 2023 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC Expert Market:ORBT), an electronics manufacturer and software solution provider, announced today that its Board of Directors has declared a quarterly cash dividend of $0.01 per share.

Key Points:

HAUPPAUGE, New York, June 09, 2023 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC Expert Market:ORBT), an electronics manufacturer and software solution provider, announced today that its Board of Directors has declared a quarterly cash dividend of $0.01 per share.
The declared dividend is payable to shareholders of record as of June 30, 2023, with a payment date of July 7, 2023.
Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected.
Orbit assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

Orbit International Corp. Announces Further Delay in Filing Its 2022 Annual Report

Retrieved on:

Friday, May 12, 2023

Electronics, Bank statement, Federal, AC, SHI International Corp, Annual report, ORBT, OTC, Growth, SPS, 348th Tactical Electronics Group, Disclosure, News, COTS, Security (finance), Audit, Orbit

HAUPPAUGE, N.Y., May 12, 2023 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC PINK:ORBT), an electronics manufacturer and software solution provider, announced today that the filing of its 2022 Annual Report has been further delayed with the OTC as additional time is needed to complete the audit of the acquired and ending inventory of its recently acquired Simulator Product Solutions LLC subsidiary (“SPS”) and the preparation of the 2022 Annual Report.

Key Points:

Mitchell Binder, President and CEO commented, “Our accounting staff continues to work with our auditors to complete and file our 2022 Annual Report.
Despite these efforts, unfortunately, additional time is needed to complete the audit of the acquired inventory of SPS on January 3, 2022, as well as its ending inventory at December 31, 2022.
Once the audit is completed, we do not expect any adjustment to have any material effect on the financial statements of the Company at December 31, 2022.
Orbit assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

Orbit International Corp. Electronics Group Reports Bookings of Approximately $1,740,000 in April 2023

Retrieved on:

Friday, May 5, 2023

Electronics, Federal, AC, Government, SHI International Corp, OEG, Binder, ORBT, OTC, Growth, 348th Tactical Electronics Group, Disclosure, News, COTS, Orbit

HAUPPAUGE, N.Y., May 05, 2023 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC PINK:ORBT), an electronics manufacturer and software solution provider, today announced that bookings from its Electronics Group (“OEG”) for the month of April 2023 were approximately $1,740,000.

Key Points:

HAUPPAUGE, N.Y., May 05, 2023 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC PINK:ORBT), an electronics manufacturer and software solution provider, today announced that bookings from its Electronics Group (“OEG”) for the month of April 2023 were approximately $1,740,000.
Mitchell Binder, President and CEO of Orbit International commented, “We are pleased to report that bookings from our OEG for the month of April 2023 were approximately $1,740,000.
Bookings for the month were highlighted by approximately $925,000 in orders received by our Simulator Product Solutions LLC (“SPS”) subsidiary.
Orbit assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

Orbit International Corp. Announces Delay in Filing Its 2022 Annual Report

Retrieved on:

Tuesday, April 18, 2023

HAUPPAUGE, N.Y., April 18, 2023 (GLOBE NEWSWIRE) -- Orbit International Corp. (OTC PINK:ORBT), an electronics manufacturer and software solution provider, announced today that the filing of its 2022 Annual Report with the OTC has been delayed beyond its extended due date of April 17, 2023, as additional time is needed to complete the audit of the acquired and ending inventory of its recently acquired Simulator Product Solutions LLC subsidiary (“SPS”) and the preparation of the 2022 Annual Report.

Key Points:

Because the acquired inventory comprised a part of the purchase price of SPS, any one-time adjustments should have no material effect on the financial statements of Orbit.
Furthermore, we do not expect any adjustments to SPS’ ending inventory to have any material effect on the financial statements of the Company.
Our backlog at December 31, 2022 was approximately $19,400,000, an increase of 9% from the prior year.”
Binder concluded, “Our financial position continues to be strong.
Orbit assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.