Chief Financial Officer
Hauppauge, New York, November 4, 2020– Orbit International Corp. (OTC PINK:ORBT), an electronics
manufacturer and software solution provider, today announced that bookings for its Power Group (“OPG”),
through its Behlman Electronics, Inc subsidiary, exceeded $1,000,000 for the month of October 2020.
Bookings for the month for the OPG were highlighted by approximately $500,000 of VPX power supplies;
other orders received during the month were for COTS and commercial power supplies. Deliveries for certain
of these orders have already commenced and are expected to continue through the third quarter of 2021.
Mitchell Binder, President and CEO of Orbit International commented, “This relatively strong booking month
for our OPG comes on the heels of solid third quarter bookings of approximately $3,400,000 for this segment.
We are encouraged that bookings for our VPX products picked up during the third quarter and has continued
with $500,000 of bookings during the month of October. Along with production awards, we received prototype
awards for new VPX opportunities and hope for follow-on production awards from these customers prior to
year-end, although the timing of these awards is an uncertainty.”
Binder added, “Aside from the relative strength of our defense related work, our OPG also provides power
supplies for oil and gas exploration and test and measurement applications and continues to experience
weakness in this end of the business. Our commercial business has been weak since the beginning of the
pandemic and may remain weak until the economy begins to fully recover. Our production lines returned to
normal for most of the third quarter and assuming no unforeseen events from a situation that continues to
evolve, including the possibility of another disruption caused by a second wave of the pandemic, we expect
our normal production schedules to continue as we meet our delivery schedules to support our customers’
Orbit International Corp., through its Electronics Group including its new Q-Vio subsidiary, is involved in the
development and manufacture of custom electronic device and subsystem solutions for military, industrial and
commercial applications through its production facility in Hauppauge, New York. Orbit’s Power Group, also
located in Hauppauge, NY, designs and manufactures a wide array of power products including AC power
supplies, frequency converters, inverters, VME/VPX power supplies as well as various COTS power sources.
On March 11, 2020, the World Health Organization declared the novel strain of coronavirus (COVID-19) a
global pandemic and recommended containment and mitigation measures worldwide. The Company was
classified as an essential business by New York State and therefore was exempt from the state’s mandate that
all non-essential businesses close their business locations until further notice. In addition, as a member of the
Defense Industrial Base (“DIB”), the Company is mandated by the Secretary of Defense to continue to provide
the essential products and services required to meet national security commitments to the Federal Government
and the U.S. Military. The Company remains open while following guidance from the Centers for Disease
Control (“CDC”) to best protect our employees. At this time, the length and severity of the COVID-19
pandemic is still unknown.
Certain matters discussed in this news release and oral statements made from time to time by representatives
of the Company including, 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 reports posted
with the OTC Disclosure and News service. 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.