Orbit International Corp. Power Unit Segment Receives New Order From Honeywell to be Used in the U.S. Army TALIN System.Business Editors HAUPPAUGE, N.Y.--(BUSINESS WIRE)--June 4, 2002 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) today announced that its Power Unit Segment, Behlman Electronics, Inc., has received an order from Honeywell International, Inc. (NYSE NYSE See: New York Stock Exchange :HON) for a power supply that will be used in the U.S. Army Tactical Advanced Land Inertial in·er·tia n. 1. Physics The tendency of a body to resist acceleration; the tendency of a body at rest to remain at rest or of a body in straight line motion to stay in motion in a straight line unless acted on by an outside force. Navigator (TALIN) System. The TALIN system is a navigation system A GPS-based electronic system in a car or truck that provides a real time map of the vehicle's current location as well as step-by-step directions to a programmed destination. See GPS and vehicle tracking. used in ground based vehicles for identifying both the vehicle and gun location. The total purchase order, valued at approximately $450,000, calls for the design and delivery of five (5) prototype and qualification units by December 2002 and production deliveries of 300 units that will commence after qualification testing approval. Deliveries of production units are expected throughout 2003. Because of its application, the Company believes this power supply has the potential for repeat orders in future years. Dennis Sunshine, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Orbit commented, "We are particularly pleased to have received this order because it represents the first that our Behlman unit has received from Honeywell. We look forward to becoming a valuable supplier of Commercial Off-The-Shelf Commercial off-the-shelf (COTS) is a term for software or hardware, generally technology or computer products, that are ready-made and available for sale, lease, or license to the general public. (COTS (Commercial Off-The-Shelf) Refers to ready-made merchandise that is available for sale. See MOTS. (software) COTS - commercial off-the-shelf. See commercial software. ) power supplies to Honeywell on future programs. Behlman's Custom Power Division has seen substantial growth in bookings over the past 18 months in orders for its COTS solutions for customer power requirements with several leading prime contractors for important military and governmental programs. This latest order once again demonstrates Behlman's ability to provide high-quality, cost-effective power solutions. It is also significant because it provides Behlman a new market in ground based vehicle applications." Orbit International Corp., based 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. , is involved in the manufacture of customized electronic components and subsystems for military and nonmilitary government applications. Its Behlman Electronics, Inc. subsidiary manufactures and sells high quality commercial power units and low noise uninterruptable power supplies (UPS). The Behlman custom 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, 2001. 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 award and delivery of prototype, qualification and production units on the TALIN system, the potential for repeat orders of its products in the future, the ability to become a future supplier of its products to Honeywell and future orders for its COTS solutions to power requirements. 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 recession and military conflict, variable market conditions and changing needs of the defense sector and the Company's customers. 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. |
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