There were a number of companies that were in focus among investors on Thursday, and many of them, like Orbit International Corp. (OTC:ORBT), could be in the news cycle this morning. Yesterday, the company hit the newswires after it made an announcement with regards to a contract. Ahead of the beginning of trading today, it may be a good idea to take a look.
Key Contract Award
The software solutions provider and electronic manufacturing company announced yesterday that Electronics Group, one of its units, had received a follow-on contract order from a major defense contractor. The company revealed that the contract in question was worth as much as $1,925,000. The product for which the contract was awarded would be used in a military program meant for the United States Navy.
Further Details
The deliveries for the same would begin at some point in the first fiscal quarter of 2026 and continue until the third fiscal quarter. It was also noted by the company in the news release that the client had also expressed strong confidence that the program for which the contract had been awarded would continue for many years. It may be a good idea to add Orbit International Corp. to your watch lists.
CEO Quote
Mitchell Binder, President and CEO of Orbit International, commented, “We are pleased to report this large follow-on contract award for our Orbit Instrument Division, which is in excess of $1,925,000. We are also pleased to note that our customer has expressed confidence that the program under which the contract was awarded will continue for many years to come. This award was expected during the third quarter of 2024 but was delayed at the U.S. government level. The timing of receipt of military awards is always an uncertainty.”
