Orbit International Corp. Announces Long-Term Agreement for Additional Digital Interrogator Units in Support of AN/UPX-37 Program; Initial Order for $335,000; Approximately $1.3 Million Through 2007 If Options Exercised.HAUPPAUGE, N.Y. -- Orbit International Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ORBT), a niche military defense electronics supplier, today announced that it had reached a Long-Term Agreement (LTA LTA Land Transport Authority LTA Land Trust Alliance LTA Lawn Tennis Association LTA Lost Time Accident LTA Lighter-Than-Air LTA Lieutenant (Singapore military) LTA Lipoteichoic Acid LTA Lymphotoxin-Alpha ) with a leading defense electronics customer for its Digital Interrogator in·ter·ro·gate tr.v. in·ter·ro·gat·ed, in·ter·ro·gat·ing, in·ter·ro·gates 1. To examine by questioning formally or officially. See Synonyms at ask. 2. Unit to support both Shipboard ship·board n. 1. The condition of being aboard a ship: on shipboard. 2. Archaic The side of a ship. adj. as well as Stationary Stationary can mean:
The Orbit Digital Interrogator incorporates an Electro-luminescent (EL) display with an array of operator controlled switch buttons to form part of a sophisticated Identification Friend or Foe The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. (IFF 1. (file format) IFF - Interchange File Format. 2. IFF - Identify friend or foe (radar). 3. (mathematics, logic) iff - if and only if, i.e. necessary and sufficient. ) system that is currently used in hostile battlefield environments. This IFF system enables friendly forces operating in the battlefield to recognize friendly platforms among potential targets. The Digital Interrogator display information provides the critical lead time to counter an attack, or prevent inadvertent fire between friendly and/or coalition forces. Dennis Sunshine, President and Chief Executive Officer, commented, "We are pleased to continue as the source of supply of our Digital Interrogator Unit for ongoing as well as potential new IFF program opportunities. To date, we have booked orders for in excess of 750 Digital Interrogator Units, generating revenues of approximately $2.6 million for this particular program requirement. Having an LTA in place provides our customer with the ability to quote its customers with an established firm fixed price for future naval and land based air defense, airborne surveillance, and foreign and domestic air traffic control program opportunities." Sunshine added "Both our Electronics and Power Units Segments have continued to win new contract awards with significant follow-on opportunities. At the same time, we continue to pursue business which we believe may lead to new development and production awards. Furthermore, with the integration of Tulip Development Laboratory, Inc. well underway, we have begun the process of seeking out another acquisition to complement our existing businesses." 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 Hauppauge (pronounced /hɔpɔg/) is a hamlet in the Town of Islip and the Town of Smithtown in Suffolk County, New York, United States. and Quakertown, Pennsylvania Quakertown is a borough in Bucks County, Pennsylvania, in the United States. The borough is 16 miles (26 km) south of Bethlehem and 29 miles north of Philadelphia, making Quakertown a border town of both the Delaware Valley and Lehigh Valley metropolitan areas. . Its Behlman Electronics, Inc. subsidiary manufactures and sells high quality commercial power units, AC power sources, frequency converters, uninterruptible power supplies See UPS. (hardware) Uninterruptible Power Supply - (UPS) A battery powered power supply unit that is guaranteed to provide power to a computer in the event of interruptions in the incoming mains electrical power. and associated analytical equipment. The Behlman military division designs, manufactures and sells power units and electronic products for measurement and display. For a more detailed discussion of the risks inherent in the Company's business, the reader is referred to the Company's Annual Report on Form 10-KSB for the fiscal year ended December 31, 2004. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including the deliveries of new orders, the value of option quantities if fully exercised, providing our customer with the ability to quote its customers with an established firm fixed price for future program opportunities, pursuing new business that will lead to new development and production awards and seeking out another acquisition that will complement our existing businesses. These forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual future results of the Company to be materially different from such forward looking statements. Factors that might result in such differences include, without limitation, the current economic climate and military conflicts, variable market conditions and changing needs of its customer. The forward-looking statements contained in this press release speak only as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" . The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission. |
|
||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion