Orbit International announced that its Power Group, through its Behlman Electronics subsidiary, received three new orders with a combined value of over $645,000. The first order, valued at approximately $234,500, is for a commercial power supply used by a major appliance manufacturer to help improve the accuracy of its product testing and demonstration. Deliveries have commenced and should continue through the third quarter of 2013. The second order, valued at approximately $157,000, is for a special commercial power supply used to deliver AC signaling for a high speed railroad system. Deliveries have commenced and should continue through the fourth quarter of 2013. The third order, valued at approximately $254,000 is a follow-on order for a COTS power supply used to power the optics on a fire control system for United States Navy ships. Deliveries are expected to commence in the fourth quarter of 2013 and continue through the first quarter of 2014. Orbit also announced that it entered into an Amendment to its Credit Agreement with its primary lender whereby the maturity date for the Company's $6M committed line of credit was extended to July 1, 2015.
- Investment & Company Information