Welcome to our dedicated page for Orbit Internatio news (Ticker: ORBT), a resource for investors and traders seeking the latest updates and insights on Orbit Internatio stock.
Overview
Orbit International Corp. (ORBT) specializes in the design, manufacture, and sale of advanced electronic components and custom power units, serving prime contractors, government procurement agencies, and research and development laboratories worldwide. With deep expertise in electronic components, custom electronics, and power systems, the company stands out by offering tailored solutions that combine precision engineering with flexible power solutions.
Business Segments
The company operates through two primary segments:
- Electronics Group: This segment is responsible for the design, manufacture, and sale of customized electronic components and subsystems, including remote control units, intercommunication panels, displays, keyboards, keypads, and operator control trays. These products are developed to meet stringent performance and reliability standards, serving a wide array of applications in commercial, government, and research sectors.
- Power Group: Focused on commercial power solutions, this segment designs and manufactures a variety of power units such as AC power supplies, frequency converters, uninterruptible power supplies, and commercial off-the-shelf power solutions. The group also develops electronic products for measurement and display, ensuring that power systems operate safely and efficiently in diverse environments.
Market Position and Operations
Orbit International has established a significant presence in the industrial electronics and power systems market. The company leverages its extensive expertise in engineering and manufacturing to serve critical segments such as government, defense, and industrial research. By prioritizing customization and precision, it effectively addresses the demanding needs of its clientele. Commitment to quality and continuous improvement has allowed the firm to secure contracts with key players, placing it in a competitive stance against other specialized manufacturers. Its product portfolio's versatility and reliability have made it a trusted partner for projects that require both advanced electronic control and robust power management solutions.
Engineering Excellence and Product Quality
At the heart of Orbit International’s operations is a strong emphasis on engineering excellence. The company invests in research and development to innovate its product designs and manufacturing processes. This commitment to quality is evident in its ability to produce both standard and customized solutions that meet rigorous industry standards. The integration of advanced technologies in its design and production processes underscores the company’s focus on maintaining high-performance levels and ensuring that its systems can operate in a variety of complex and mission-critical settings.
Competitive Landscape
In an industry where precision and reliability are paramount, Orbit International differentiates itself with a deep understanding of customer needs and an ability to deliver both electronic control and power solutions under one roof. This unique positioning enables the company to cater to niche markets while competing with larger, more diversified manufacturers. Its dual-segment business model provides resilience and flexibility, allowing it to adapt to changing market conditions and customer requirements with a focus on both innovation and practicality.
Expertise and Industry Commitment
The company’s long-standing history in the electronics and power manufacturing fields is supported by a strong foundation of technical expertise and operational efficiency. By consistently integrating industry-specific insights into its product design and development, Orbit International reassures clients and stakeholders of its ability to deliver dependable products that adhere to the highest quality standards. This operational diligence and commitment to technical mastery reinforce the company’s reputation as an authoritative and trustworthy business partner in the global marketplace.
Conclusion
Orbit International Corp. represents a robust example of a company with a balanced portfolio across advanced electronic components and sophisticated power systems. Its detailed product offerings and strategic market orientation make it a noteworthy entity within the manufacturing and defense contracting sectors. The company continues to solidify its position through innovation, reliability, and an unwavering dedication to meeting the technical needs of its diverse customer base.
Orbit International Corp. (OTC PINK:ORBT) has reported significant Q1 2025 bookings exceeding $4,700,000 through its Electronics Group (OEG). The orders comprise over $3,000,000 from OEG legacy business and more than $1,700,000 from their Simulator Product Solutions (SPS) subsidiary.
A notable highlight includes a previously announced follow-on contract exceeding $1,925,000 for U.S. Navy military program products. The SPS orders were achieved despite delays in several large contract opportunities, which are expected to materialize in Q2. Deliveries for these awards have commenced and will continue through Q2 2026.
The company's Orbit Power Group (OPG) reported strong performance in 2024, primarily driven by record bookings for VPX technology power supplies. Management expressed confidence in securing both follow-on business for VPX power supplies and developing new designs to expand their market presence in 2025.
Orbit International Corp. (OTC PINK:ORBT) reported its financial results for 2024, showing a reduced net loss of $646,000 ($0.19 per share) compared to $1,147,000 ($0.34 per share) in 2023. The company's EBITDA improved to $159,000 in 2024 from a loss of $407,000 in 2023.
Key financial highlights include:
- Net sales increased to $29,898,000 from $27,556,000
- Gross margin improved to 33.3% from 31.7%
- Q4 2024 net sales were $8,708,000 vs $7,173,000 in Q4 2023
- Backlog decreased to $12.0 million from $17.4 million year-over-year
The company's performance was notably impacted by a non-cash $445,000 deferred tax expense. Operating results improved in the second half of 2024, driven by higher sales and improved gross profit at the Simulator Product Solutions (SPS) subsidiary and the Orbit Power Group (OPG). The company maintains access to a $4,000,000 line of credit, with $850,000 borrowed as of December 31, 2024.
Orbit International Corp. (OTC PINK:ORBT) has secured a follow-on contract worth over $1,925,000 from a major defense contractor for its Electronics Group (OEG). The contract involves manufacturing products for a U.S. Navy military program, with deliveries scheduled from Q1 2026 through Q3 2026.
The contract, initially expected in Q3 2024, was delayed at the U.S. Government level. The customer has expressed confidence in the program's long-term continuity. Additionally, the company's Orbit Power Group (OPG) reported strong bookings in 2024, particularly in VPX technology power supplies, and expects continued growth in this segment through 2025 with both follow-on business and new designs.
Orbit International Corp. (OTC PINK:ORBT) reported bookings exceeding $1,000,000 for its Power Group in November 2024. The orders were primarily driven by VPX power supplies orders totaling over $700,000, contributing to record annual VPX bookings of more than $4.5 million for the eleven months ended November 30, 2024 - a 77% increase compared to all of 2023.
Deliveries for these orders have begun and will continue through Q2 2026. The company also received orders for additional COTS and commercial power supplies. Separately, the company disclosed receiving a verified complaint filed by SPS's former President in Delaware Court of Chancery regarding alleged additional amounts owed under acquisition agreements, which the company intends to contest.
Orbit International Corp. (OTC PINK:ORBT) reported mixed results for Q3 2024. Net income decreased to $558,000 ($0.17 per share) from $762,000 ($0.23 per share) in Q3 2023. Net sales increased to $8,414,000 from $8,192,000. For the nine months ended September 30, 2024, the company reported a net loss of $394,000 compared to a loss of $808,000 in the prior year period. Backlog decreased to $16.8 million from $17.4 million at year-end 2023. The company's Simulator Product Solutions (SPS) showed improved performance, while the Orbit Instrument division experienced lower sales and margins.
Orbit International Corp. (OTC PINK:ORBT) has announced the reinstatement of its stock trading on the OTC Pink Market, effective October 7, 2024. This follows a period of trading on the OTC Expert Market since May 16, 2023. Orbit International Corp. is an electronics manufacturer and software solution provider with two main divisions:
1. The Electronics Group: Develops and manufactures custom electronic devices and subsystem solutions for military, industrial, and commercial applications through facilities in Hauppauge, NY, and Carson, CA.
2. The Power Group: Based in Hauppauge, NY, designs and manufactures various power products including AC power supplies, frequency converters, inverters, VME/VPX power supplies, and COTS power sources.
Orbit International Corp. (OTC Expert Market:ORBT) announced that its Orbit Power Group (OPG) received bookings exceeding $1,800,000 in September 2024, resulting in total third-quarter bookings surpassing $2,800,000. The orders include a follow-on order for a COTS power supply worth approximately $1,450,000 for nuclear power plants. Deliveries are expected to continue through Q4 2025.
Mitchell Binder, President and CEO, highlighted strong Q3 bookings and noted that VPX power supply orders for the first nine months of 2024 are 27.1% higher than the entire 2023. The company's Electronics Group and Simulator Product Solutions subsidiary are pursuing new opportunities, with some expected Q3 orders delayed to Q4.
Orbit International Corp. (OTC:ORBT) reported its Q2 2024 results, showing a reduced net loss of $201,000 ($0.06 per share) compared to $453,000 ($0.14 per share) in Q2 2023. For the first six months of 2024, the company reported a net loss of $952,000 ($0.28 per share), an improvement from $1,570,000 ($0.47 per share) in the same period last year. Despite the losses, the company saw increased sales of $12,776,000 for the six-month period, up from $12,191,000 in 2023. The company's backlog increased by 18.4% to $20.6 million as of June 30, 2024. Orbit also announced the termination of the SPS President's employment contract, which may lead to legal discussions.
Orbit International Corp. (ORBT) released its first quarter 2024 results, highlighting a net loss of $751,000 ($0.22 per share), an improvement from the $1,117,000 ($0.33 per share) loss in Q1 2023. The company reported net sales of $6,175,000, up from $5,198,000 the previous year. Gross margin improved to 30.8% from 20.7% in Q1 2023. However, adjusted EBITDA was a loss of $551,000 compared to a loss of $1,134,000 last year. The backlog increased to $23.8 million, up 37.3% from December 2023. Despite improvements, higher operating costs affected results. The company remains optimistic about future quarters as bookings and backlog have shown strong growth.
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