Orbit International Receives $800,000 Follow-on Order from U.S. Army Communications Electronics Command.Total Award Could Exceed $5 Million 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), an electronics manufacturer and supplier, today announced that its Electronics Group has received additional orders valued at approximately $800,000, released against a second fixed price indefinite delivery/indefinite quantity (IDIQ IDIQ Indefinite Delivery, Indefinite Quantity (contracting/procurement) ) multi-year contract from the U.S. Army Communications Electronics Command (CECOM CECOM Communications Electronics Command (US Army) CECOM National Center for Communications of the Civil Protection Agency ), Fort Monmouth Fort Monmouth is a United States Army installation in Eatontown, Tinton Falls and Oceanport, New Jersey, and about one mile from the Atlantic Ocean. The base covers nearly 1,126 acres of land, from the Shrewsbury River west to Route 35, called Main Post. , NJ. This follow-on order, for the manufacture and delivery of Radar Display Modern radar systems typically use some sort of raster scan display to produce a map-like image. In the past, notably during the early days of radar development, such displays were difficult to produce for a number of reasons. Units (RDUs), supports ongoing U.S. Army and Marine Corps Firefinder Program requirements for current military operations This is a list of missions, operations, and projects. Missions in support of other missions are not listed independently. World War I ''See also List of military engagements of World War I
This latest IDIQ award provides CECOM as well as any governmental procurement agency with the ability to procure U.S. Army TPQ TPQ Threshold Planning Quantity TPQ Tridimensional Personality Questionnaire TPQ Terminus Post Quem (archaeology) TPQ Tepic, Nayarit, Mexico (Airport Code) TPQ Total Product Quality 36/37 and U.S. Marine Corps TPS-59 systems on an as required basis for accelerated delivery requirements The stipulation that requires that an item of materiel must be delivered in the total quantity required by the date required. . The intent of the IDIQ contract was set in place to handle approximately 100 units annually, for a period of five years. This contract award follows an order for 65 RDUs that was received in November 2006 and shipped on an accelerated basis. This latest order reflects the need for additional U.S. Army and U.S. Marine Corps hardware that will be shipped directly overseas for immediate battlefield support. The Orbit Electronics Group RDU RDU Remote Display Unit RDU Rassemblement pour la Démocratie et l'Unité (French: Rally for Democracy and Unity, Mauritania) RDU Reasonable Drivers Unanimous RDU Remote Diagnostic Unit (Bendix ABS) design provides artillery battalions with small, lightweight, highly mobile radar sets capable of detecting weapon projectiles launched at any angle over 360 degrees of coverage. Upon projectile projectile something thrown forward. projectile syringe see blow dart. projectile vomiting forceful vomiting, usually without preceding retching, in which the vomitus is thrown well forward. detection, the weapon location is computed and is used to direct counter fire with precise accuracy. 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 International, commented, "Since the contract for these RDUs has already exceeded anticipated government requirements, all on an expedited delivery schedule, it appears that the TPQ 36/37 and TPS-59 systems have been extremely effective in providing our troops with accurate positioning information that locates and eliminates hostile mortars within any short-to-medium range enemy positions." Mr. Sunshine Mr. Sunshine is the title of an American sitcom that aired on the ABC network for a season beginning in 1986. The series followed the trials and tribulations of Prof. Paul Stark (Jeffrey Tambor), a blind university professor. added, "This second multi-year agreement provides both branches of the military with firm fixed prices for critical RDU requirements through August 2008. We expect that our customer will exercise the total quantities under the current contract which could generate over $5 million in revenue to Orbit over the life of the agreement. Based upon input from our customer, we expect additional RDU requirements beyond August 2008. Furthermore, we now have a separate contract in place with CECOM under which we are repairing RDUs that have been shipped back from battlefield usage, having operated under severe temperature and environmental battlefield conditions. Since we have ongoing RDU production orders in-house, we simply replace all of the critical parts to provide our military with refurbished units that will continue to operate as state-of-the-art hardware for battlefield support." Orbit International Corp., through its Electronics Group, 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. Its Power Group, through its Behlman Electronics, Inc. subsidiary, manufactures and sells high quality commercial power units, AC power sources, frequency converters, uninterruptible power supplies 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, 2005 and its registration statement on Form S-3 containing a final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. dated January 11, 2006. This press release contains forward-looking statements, 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 expected delivery dates of the new contract, the potential of the Company's customer procuring any or all remaining units under the IDIQ contract, the potential of the award exceeding $5,000,000 over the five year period ending August 2008 for the Company if the IDIQ contract is fully exercised and the customer having additional contract requirements beyond 2008. 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 the defense sector and the Company's customers. The forward-looking statements contained in this press release speak only as of the date hereof. 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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