Orbit International’s Power Group Reports Bookings in Excess of $1,000,000 for the Month of November 2024
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) ha riportato prenotazioni superiori a 1.000.000 di dollari per il suo Power Group nel novembre 2024. Gli ordini sono stati principalmente guidati da ordini di alimentatori VPX per oltre 700.000 dollari, contribuendo a prenotazioni annuali record per VPX di oltre 4,5 milioni di dollari nei undici mesi fino al 30 novembre 2024, con un aumento del 77% rispetto all'intero 2023.
Le consegne per questi ordini sono già iniziate e continueranno fino al secondo trimestre del 2026. L'azienda ha anche ricevuto ordini per ulteriori alimentatori commerciali e COTS. Separatamente, l'azienda ha reso noto di aver ricevuto una denuncia verificata presentata dall'ex Presidente di SPS presso la Corte di Chancery del Delaware riguardante presunti ulteriori importi dovuti ai sensi degli accordi di acquisizione, che l'azienda intende contestare.
Orbit International Corp. (OTC PINK:ORBT) informó sobre reservas que superan 1.000.000 de dólares para su Power Group en noviembre de 2024. Los pedidos fueron impulsados principalmente por pedidos de fuentes de alimentación VPX que totalizan más de 700.000 dólares, contribuyendo así a reservas anuales récord de VPX que superan los 4,5 millones de dólares durante los once meses que terminaron el 30 de noviembre de 2024, un aumento del 77% en comparación con todo 2023.
Las entregas de estos pedidos han comenzado y continuarán hasta el segundo trimestre de 2026. La empresa también recibió pedidos para alimentadores comerciales y COTS adicionales. Por separado, la compañía reveló haber recibido una queja verificada presentada por el ex Presidente de SPS en la Corte de Cancillería de Delaware respecto a supuestos montos adicionales adeudados bajo acuerdos de adquisición, los cuales la empresa tiene la intención de impugnar.
오르빗 인터내셔널 코퍼레이션 (OTC PINK:ORBT)은 2024년 11월 파워 그룹을 위한 예약이 100만 달러를 초과했다고 보고했습니다. 이 주문은 주로 VPX 전원 공급 장치 주문에 의해 진행되었으며, 총 70만 달러에 달해 2024년 11월 30일 종료된 11개월간 VPX의 연간 예약이 450만 달러 이상으로 증가했습니다. 이는 2023년 전체에 비해 77%의 증가입니다.
이 주문의 배송은 이미 시작되었으며 2026년 2분기까지 계속될 예정입니다. 회사는 추가적인 COTS 및 상업적 전원 공급 장치에 대한 주문도 받았습니다. 별도로, 회사는 SPS의 전 사장이 델라웨어 채권법원에 제출한 확인된 소송을 접수했다는 사실을 밝혔습니다. 이 소송은 인수 계약에 따른 추가 금액이 청구되었다는 내용이며, 회사는 이에 대해 이의를 제기할 의사를 밝혔습니다.
Orbit International Corp. (OTC PINK:ORBT) a annoncé des réservations dépassant 1.000.000 de dollars pour son Power Group en novembre 2024. Les commandes étaient principalement motivées par des commandes de sources d'alimentation VPX totalisant plus de 700.000 dollars, contribuant à des réservations annuelles record pour VPX de plus de 4,5 millions de dollars pour les onze mois se terminant le 30 novembre 2024, soit une augmentation de 77 % par rapport à toute l'année 2023.
Les livraisons de ces commandes ont commencé et se poursuivront jusqu'au deuxième trimestre 2026. L'entreprise a également reçu des commandes pour des sources d'alimentation COTS et commerciales supplémentaires. Par ailleurs, l'entreprise a révélé avoir reçu une plainte vérifiée déposée par l'ancien président de SPS devant la Cour de Chancery du Delaware concernant des montants supplémentaires présumés dus en vertu des accords d'acquisition, que l'entreprise entend contester.
Orbit International Corp. (OTC PINK:ORBT) berichtete von Aufträgen, die im November 2024 1.000.000 Dollar übersteigen. Die Aufträge wurden hauptsächlich durch VPX-Stromversorgung Aufträge im Gesamtwert von über 700.000 Dollar angetrieben, was zu einem Rekordjahr für VPX-Buchungen von mehr als 4,5 Millionen Dollar für die elf Monate bis zum 30. November 2024 geführt hat - ein Anstieg von 77% im Vergleich zum gesamten Jahr 2023.
Die Lieferungen dieser Aufträge haben begonnen und werden bis zum 2. Quartal 2026 fortgesetzt. Das Unternehmen erhielt auch Aufträge für zusätzliche COTS und kommerzielle Stromversorgungen. Separat gab das Unternehmen bekannt, dass es eine bestätigte Klage des ehemaligen Präsidenten von SPS vor dem Delaware Court of Chancery bezüglich angeblich offener Beträge aus Erwerbsverträgen erhalten hat, die das Unternehmen anfechten will.
- Power Group bookings exceeded $1,000,000 in November 2024
- Record VPX bookings of $4.5 million through November 2024, up 77% from 2023
- Strong order backlog extending through Q2 2026
- Legal dispute with former SPS President over acquisition payment terms could result in additional financial obligations
Power Group Records Record VPX Bookings Through November 2024
Company Receives Notice of Verified Complaint From Former SPS President
HAUPPAUGE, N.Y., Dec. 06, 2024 (GLOBE NEWSWIRE) -- Orbit International Corp. (the “Company”) (OTC PINK:ORBT), an electronics manufacturer and software solution provider, today announced that bookings for its Orbit Power Group (“OPG”) for the month of November 2024 were in excess of
Bookings for the month of November were highlighted by orders for VPX power supplies totaling over
Mitchell Binder, President and CEO of Orbit International commented, “We are pleased to report very strong bookings for our OPG during the month of November. Bookings were highlighted by two significant orders for VPX power supplies. Through the eleven months ended November 30, 2024, orders for our VPX power supplies are approximatively
The Company was notified on November 27, 2024, that a verified complaint was filed on a confidential basis in the Delaware Court of Chancery (C.A. No. 2024-1227) by a company formed by Simulator Product Solutions LLC’s (“SPS”) former President naming the Company and its subsidiary, SPS, as defendants. The complaint, which became publicly available yesterday, alleges additional amounts owed under the Contribution and Operating Agreements associated with the SPS acquisition. The Company believes it has abided by the terms of both agreements and intends to vigorously oppose the claims asserted in the complaint.
Orbit International Corp., through its Electronics Group, is involved in the development and manufacture of custom electronic device and subsystem solutions for military, industrial and commercial applications through its production facilities in Hauppauge, NY and Carson, CA. 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.
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 International Corp.’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 International Corp. 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 Corp.’s ability to control or predict. Important factors that may cause actual results to differ materially and that could impact Orbit International Corp. and the statements contained in this news release can be found in Orbit International Corp.’s reports posted with the OTC Disclosure and News service. For forward-looking statements in this news release, Orbit International Corp. claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. Orbit International Corp. assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.
CONTACT
David Goldman
Chief Financial Officer
631-435-8300
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