Orbit International Corp. Announces Approximately $1.7M in New Orders

Business Wire, Oct 5, 1999

HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Oct. 5, 1999--

Orbit International Corp. (NASDAQ:ORBTD) today announced that it has received approximately $1,700,000 in new contracts from prime contractors and government agencies. Deliveries under these new contracts will commence in the fourth quarter of 1999 and continue through the first quarter of 2001.

Dennis Sunshine, President and CEO commented, "While we are pleased to have received these new contracts, we continue to operate in a very difficult business environment. These new contracts represent a portion of the contract awards that we have been expecting for several quarters. However, we continue to experience delays on several other opportunities related to both new and on-going programs."

Orbit International Corp., based in Hauppauge, 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 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-K for the fiscal year ended December 31, 1998.

This press release contains "forward looking statements", within the meaning of the Private Securities Litigation Reform Act of 1995, regarding the Company's expectations relating to future business opportunities and contract awards. These forward-looking statements involve known and unknown risk, 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, variable market conditions and changing needs of the defense sector and the Company's customers. 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.