Orbit International’s Power Group Receives $250,000 Initial Production Order in Support of F-16 Program
HAUPPAUGE, N.Y.-(Business Wire)-September 24, 2009 - Orbit International Corp. (NASDAQ:ORBT), a defense electronics manufacturer, systems integrator and software solution provider, today announced that its Power Group, Behlman Electronics, Inc. (“Behlman”), has received an initial production order for COTS power supplies in support of the F-16 program valued at approximately $250,000. Deliveries under this contract are expected in the second and third quarter of 2010.
This award represents an initial production order for a COTS power supply for use in the F-16 Expanded Enhanced Fire Control Computer (EEFCC). Behlman had previously received a design and pre-production award for this new COTS power supply. The legacy power supply had been the cause of unacceptable support problems for the U.S. Air Force and a new solution was required for continued mission requirements. Behlman was chosen to supply a COTS replacement, perform qualification testing and prepare logistical support documentation. Based on the number of F-16’s in active service throughout the world, additional orders are anticipated as the older power supplies are replaced.
Mark Tublisky, President of Behlman, stated, “Once again, our ability to provide complete power solutions has opened up new market opportunities for our Power Group and continues to drive our revenue growth. Our talented group of engineers has successfully distinguished Behlman from its competition by utilizing our extensive niche power supply expertise and large platform of COTS products to solve our customers’ problems. Behlman’s management team forecasts a significant amount of activity in both new and repeat orders for its products used in COTS power applications.”
Dennis Sunshine, President and Chief Executive Officer of Orbit International Corp., commented, “The importance of this initial production order is that the F-16 aircraft is the largest jet fighter program in the Western world with over 4,400 aircraft built since initial flight certification. The F-16 aircraft continues to play a vital role for U.S. mission and support capabilities and with its proven reliability, the aircraft has been delivered to more than 25 countries. Although the new COTS solution is limited to certain F-16 configurations, the potential for future orders, as older power supplies need to be replaced, could be significant. In addition, the F-16 is scheduled to remain in service with the U.S. Air Force until 2025.”
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, and Quakertown, Pennsylvania; and designs and manufactures combat systems and gun weapons systems, provides system integration and integrated logistics support and documentation control at its facilities in Louisville, Kentucky. 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.
Certain matters discussed in this news release and oral statements made from time to time by representatives of the Company including, but not limited to, statements regarding any acquisition proposal and/or the potential sale of the Company and whether such proposal or a strategic alternative thereto may be considered or consummated; statements regarding our expectations of Orbit’s operating plans, deliveries under contracts and strategies generally; statements regarding our expectations of the performance of our business; expectations regarding costs and revenues, future operating results, additional orders, future business opportunities and continued growth, may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although Orbit believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be achieved.
Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond Orbit International's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact Orbit International and the statements contained in this news release can be found in Orbit's filings with the Securities and Exchange Commission including quarterly reports on Form 10-Q, current reports on Form 8-K, annual reports on Form 10-K and its other periodic reports. For forward-looking statements in this news release, Orbit claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Orbit assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.
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