Business Services Industry
Orbit International Corp. Power Unit Segment Receives New Orders to Support Air Force Repair Program
Business Wire, Oct 25, 2001
Business Editors
HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Oct. 25, 2001
Orbit International Corp.(NASDAQ:ORBT) today announced that its Power Unit Segment, Behlman Electronics, Inc., has received orders from Hill Air Force Base to repair mission critical high voltage power supplies to support the Tactical Air Control System.
This power supply was originally designed in the late 1980's with full production continuing through 1995. Behlman has been supporting the Air Force repair program for this particular high voltage power supply since 1996.
In addition, Orbit also announced that Behlman has begun shipping previously designed power supplies to the Defense Supply Center, Richmond. These power supplies have been an integral part for many years of a control and display subsystem of an airborne weapons control system for the carrier based F-14 Tomcat Squadron.
Dennis Sunshine, President and CEO commented, "although the total value of these initial awards amount to only approximately $600,000, we are optimistic of receiving future contract awards for these programs. Since there are in excess of 1,000 high voltage power supply units that were manufactured during the production phase of the Air Force's Tactical Air Control System, it is difficult to predict the amount and timing of potential revenue that may be realized with this repair program requirement".
Sunshine continued, "everyone at Orbit International Corp. is extremely proud to support all of the many airborne, shipboard, console, track vehicle and hand held battlefield device applications. We will continue to do our part in the design of new products for future military applications while providing whatever time and resources are necessary to retrofit and repair products that are needed to support critical DOD program requirements".
Orbit International Corp., based in Hauppauge, New York 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, 2000.
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 future repair and other orders for Behlman's power units. 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. 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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