Significant Bookings of Approximately $2,700,000 During First Quarter From Orbit Power Group as VPX Orders Increase
Also Firm Bookings of Approximately $2,500,000 From Simulator Product Solutions LLC Subsidiary
HAUPPAUGE, N.Y., April 07, 2026 (GLOBE NEWSWIRE) -- Orbit International Corp. (the "Company") (OTCID Basic Market:ORBT), an electronics manufacturer and software solution provider, today announced that consolidated bookings for the first quarter of 2026 were in excess of $6,000,000. The bookings were attributable to both its Orbit Electronics Group ("OEG") and its Orbit Power Group ("OPG"). Deliveries for orders received during the quarter have already commenced and are expected to continue through the first quarter of 2027.
Mitchell Binder, President and CEO of Orbit International commented, "We are pleased to report significant consolidated bookings in excess of $6,000,000 for the first quarter of 2026. The strong quarter of bookings were partially attributable to our OPG, with bookings of approximately $2,700,000, representing a year-over-year increase of approximately 103%. A big driver of the year-over-year increase was increased bookings of power supplies utilizing our VPX technology and we continue to bid on several new and follow-on opportunities using this technology. The segment also recorded a large booking in March 2026 for a power supply used in oil and gas exploration."
Binder added, "Also adding to the quarter of orders, our Simulator Product Solutions LLC subsidiary ("SPS"), which is part of our OEG, received approximately $2,500,000 in orders. These orders include a previously announced significant award from a critical U.S. ally to upgrade its F-16 simulators to the Block 70/72 avionics suite, the most advanced F-16 configuration flying today. Bookings for this subsidiary have increased year-over-year by approximately 42.9% and new customers have accounted for 33% of the orders during the quarter. In addition to these orders, SPS' quoting activity has significantly increased to in excess $10,000,000 since the beginning of 2026, an increase of over 111% compared to the prior year comparable period."
Binder concluded, "2025 was a challenging year for the Company, with several opportunities being delayed and not recorded until several months after the order date that our customers had initially provided. We continue to experience some delays in the receipt of orders, particularly by our Orbit Instrument division, as delays in the receipt of contract awards are an inherent part of doing business with the U.S. Government."
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 VPX, COTS (Commercial-off-the-shelf) and commercial power supplies.
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
