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| [April 27, 2012] |
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Orbit International Receives Follow-On Award for U.S. Navy MK 110 Signal Data Converter (SDC) Valued in Excess of $5,758,000
HAUPPAUGE, N.Y. --(Business Wire)--
Orbit International Corp. (NASDAQ:ORBT), an electronics manufacturer and
software solution provider, today announced that its Electronics Group
has received a new base contract award from a U.S. Navy Procurement
Agency valued in excess of $5,758,000 for its MK 110 Signal Data
Converter ("SDC"). This award was received by the Company's Integrated
Combat Systems, Inc. ("ICS") subsidiary located in Louisville, Kentucky.
The U.S. Navy has placed its initial order on this contract with a task
order valued at approximately $1,050,000; an additional award is
expected shortly for approximately $547,000, for a total of $1,597,000.
Additional orders for the remainder of the contract are expected later
in 2012 and in 2013. Deliveries of all units under this contract are
expected to commence in the third quarter of 2012 and continue through
the end of 2013.
The MK 110 SDC is a major configuration item of the GCS (News - Alert) MK 160 MOD. It
includes custom fabricated enclosures; Commercial-Off-The-Shelf and
Non-Developmental Items components, which also are designed to meet the
most stringent U.S. Navy operational systems requirements. The MK 110
SDC is to be deployed on DDG 51-78 as part of the AEGIS Modernization
Program and is operationally integrated with the 5"/54 MK-45 Gun Mount
systems.
Julie McDearman, ICS's Director of Engineering and Logistics commented,
"We greatly appreciate the continued trust shown by the U.S. Navy in our
experienced team of engineers and logisticians. The MK 110 SDC is the
AEGIS Modernization Program's version ofthe MK 119 GCSC that ICS has
been supplying to the U.S. Navy since 2001. This order demonstrates our
continued partnership with the customer."
Mitchell Binder, President and CEO of Orbit International commented, "We
are pleased that our Electronics Group continues to receive orders not
only for its legacy hardware but for new equipment as well. Our backlog
at March 31, 2012 was in excess of $21.1 million and this MK 110 SDC
order should further increase backlog at April 30, 2012. This new order
well positions ICS and our Company as a whole for continued strong
operating performance in 2012."
Orbit International Corp. is involved in the manufacture of customized
electronic components and subsystems for military and nonmilitary
government applications through its production facilities in Hauppauge,
New York, and Quakertown, Pennsylvania; and designs and manufactures
combat systems and gun weapons systems, provides system integration and
integrated logistics support and documentation control at its facilities
in Louisville, Kentucky. Its Behlman Electronics, Inc. subsidiary
manufactures and sells high quality commercial power units, AC power
sources, frequency converters, uninterruptible power supplies and COTS
power solutions.
Certain matters discussed in this news release and oral statements made
from time to time by representatives of the Company including,
statements regarding our expectations of Orbit's operating plans,
deliveries under contracts and strategies generally; statements
regarding our expectations of the performance of our business;
expectations regarding costs and revenues, future operating results,
additional orders, future business opportunities and continued growth,
may constitute forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 and the Federal
securities laws. Although Orbit believes that the expectations reflected
in such forward-looking statements are based upon reasonable
assumptions, it can give no assurance that its expectations will be
achieved.
Forward-looking information is subject to certain risks, trends and
uncertainties that could cause actual results to differ materially from
those projected. Many of these factors are beyond Orbit International's
ability to control or predict. 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 filings with the Securities and Exchange Commission including
quarterly reports on Form 10-Q, current reports on Form 8-K, annual
reports on Form 10-K and its other periodic reports. For forward-looking
statements in this news release, Orbit claims the protection of the safe
harbor for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995. Orbit assumes no obligation to
update or supplement any forward-looking statements whether as a result
of new information, future events or otherwise.

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