The software solutions provider and electronics manufacturer Orbit International Corp. (OTC:OBT) is one of the companies that could well be worth tracking this morning in light of the developments from Thursday. The company came into the news yesterday after it announced that the consolidated bookings for the first fiscal quarter of 2024 had been around $12,700,000.
It was also noted that the deliveries for the orders had already started and would continue up until the first quarter of 2026. The bookings that had been generated by the company in the quarter had been accomplished through the strong bookings from the Electronic Group (OEG) and the Power Group (OPG). The Electronic Group also includes the company’s subsidiary unit, Simulator Products Solutions (SPS) LLC.
Bookings that had been made with the OEG, without the bookings with the SPS, worked out to more than $4,500,000 for the first fiscal quarter. The bookings were highlighted by two awards that had been made previously, totaling a sum of $3,150,000 from important defense contractors.
The defense contractors had placed orders for units that were to be used on major military aircraft initiatives for the United States Navy. The bookings that had been made with the OPG included a major order for the VPX power supplies in addition to a significant order for commercial power supplies meant for military programs.
The Chief Executive Officer of Orbit International Corp., Mitchell Binder, spoke about the company’s performance as well. He noted that there was considerable excitement with regards to the strong start that had been made in terms of consolidated bookings in 2024. Binder also noted that the booking figures had actually been strong for all the different operating groups at the company. It may now be a good idea for investors to consider adding Orbit International Corp. stock to their watch lists.
