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.
Orbit International Corp. (ORBT) delivers specialized electronic components and power solutions for defense, government, and industrial sectors. This news hub provides investors and industry professionals with essential updates on corporate developments, product innovations, and strategic partnerships driving the company's growth.
Access authoritative coverage of ORBT's latest press releases, financial announcements, and operational milestones. Our curated collection includes updates on defense contract awards, power systems advancements, and electronics manufacturing innovations - all critical for understanding the company's market position.
Key news categories feature earnings reports, product line expansions, government procurement updates, and R&D breakthroughs. The resource is particularly valuable for tracking ORBT's dual-segment performance in custom electronics manufacturing and commercial power solutions development.
Bookmark this page for streamlined access to verified ORBT updates. Check regularly for new announcements affecting the company operations in aerospace, defense contracting, and industrial technology sectors.
Orbit International Corp. announced a delay in filing its 2022 Annual Report due to the ongoing audit of its recently acquired subsidiary, Simulator Product Solutions LLC (SPS). The audit is necessary to finalize inventory valuations that are integral to the financial statements. CEO Mitchell Binder indicated that sales for Q4 2022 are projected between $7 million and $7.5 million, with net income estimated at $450,000 to $600,000. For the year ending December 31, 2022, sales are expected to be around $25.6 million to $26.1 million, with net income likely between $200,000 and $350,000. The backlog has increased by 9% to $19.4 million. The company also continues its share repurchase program and has declared a $0.01 quarterly dividend and $0.03 special dividend.
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