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 authorized a $400,000 increase in its share repurchase program, raising the total available amount to approximately $644,000. This initiative comes after strong recent bookings and demonstrates the Board's confidence in future operating performance and commitment to enhancing shareholder value. The Company specializes in custom electronic device solutions for military, industrial, and commercial applications, with production facilities in Hauppauge, NY, and Carson, CA.
Orbit International Corp. (OTC PINK:ORBT) reported consolidated bookings of approximately $8,700,000 for the current quarter, reflecting strong demand in both its Electronics and Power Groups. In November 2022 alone, bookings reached $3,700,000, following October's record of over $5,000,000. Key orders included $725,000 for U.S. Navy displays and significant contracts for power supplies. Although delays are anticipated for some contracts into 2023, the company is optimistic about its performance in upcoming quarters.
Orbit International Corp. (OTC PINK:ORBT) announced a cash dividend of $0.01 per share payable to shareholders of record by December 31, 2022, with a payment date set for January 9, 2023. The company also mourned the passing of longtime board member Bernard Karcinell, who served since 2000. In the wake of his passing, Wayne Cadwallader joins the Audit Committee while William Collins becomes the Acting Chairman. Orbit is involved in the development of custom electronic solutions for military, industrial, and commercial applications.
Orbit International Corp. (OTC PINK:ORBT) reported a third quarter 2022 net loss of $303,000 ($0.09 per share) compared to a net income of $681,000 ($0.20 per diluted share) in the prior year. EBITDA also declined to a loss of $232,000 from a profit of $736,000 year-over-year. For the first nine months, net sales increased to $18.6 million but net loss stood at $249,000 compared to net income of $3.0 million in 2021, heavily impacted by PPP loan forgiveness last year. Backlog increased slightly to $16.6 million. The company continues to face challenges from labor costs and delivery schedules.
Orbit International Corp. (OTC PINK:ORBT) announced consolidated bookings exceeding $5 million for October 2022, marking its strongest month this year. The Electronics Group achieved approximately $3.1 million in bookings, bolstered by significant orders for a U.S. Army program. Additionally, the Power Group reported over $1.9 million in bookings, highlighting key contracts in armament systems and oil exploration. However, the company is facing delays in contract awards from the Department of Defense due to pandemic-related work restrictions and funding issues, impacting future order timelines.
Orbit International Corp. (OTC PINK:ORBT) announced two new orders exceeding $2,350,000 from a major defense contractor for displays used in a U.S. Army program. These contracts, the largest ever for its subsidiary Q-Vio, will begin delivery in Q1 2023 and continue through Q4 2023. However, Orbit's Electronics Group faces delays in other contract awards due to pandemic-related work restrictions and prioritization shifts by the Department of Defense. Despite these uncertainties, the company expects to receive pending contracts, though many may be postponed to 2023.
Orbit International Corp (OTC PINK:ORBT) reported consolidated bookings of approximately $2,600,000 for September 2022, with the Power Group (OPG) contributing over $1,200,000. Key orders included $500,000 in VPX technology power supplies and a significant engineering contract for next-gen power supply. However, delays in anticipated orders from the Department of Defense due to pandemic-related work restrictions and inflation impacts were noted. Orbit's operations focus on military and commercial electronic solutions.
Orbit International Corp. (OTC PINK:ORBT) declared a cash dividend of $0.01 per share for shareholders of record as of September 30, 2022, with a payment date of October 7, 2022. The company specializes in custom electronic devices and subsystem solutions for various applications, operating out of facilities in Hauppauge, NY, and Carson, CA. Its Power Group produces a range of power products, including AC power supplies and inverters. Forward-looking statements regarding future performance are subject to risks and uncertainties, and Orbit disclaims any obligation to update these statements.
Orbit International Corp. announced consolidated bookings of approximately $2,900,000 for August 2022, with its Electronics Group achieving over $2,100,000 in bookings. A significant order exceeding $1,200,000 was placed by a major defense contractor for the U.S. Navy. However, the company noted delays in certain awards from the Department of Defense, influenced by pandemic-related work restrictions and inflation impacting unit pricing. Despite these challenges, Orbit remains optimistic about receiving the expected orders.
Orbit International Corp. (OTC PINK:ORBT) has announced a new share repurchase program, authorized by its Board of Directors, allowing it to buy back up to $500,000 of common shares. This follows the completion of a previous program worth approximately $784,000. CEO Mitchell Binder stated the company maintains a strong financial position and sees this buyback as beneficial for shareholder value. Orbit designs custom electronic solutions for various industries and aims for continued growth in the second half of the year.
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