Orbit International Receives Contract Valued in Excess of $1,400,000 for Mobile Display Terminal Used in Commercial Mass Transit Vehicles
biz.yahoo.com
Wednesday February 8, 8:30 am ET
HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Feb. 8, 2006--Orbit International Corp. (NASDAQ:ORBT), a military defense electronics supplier, today announced that it had received a contract valued in excess of $1,400,000 for its color Mobile Display Terminal (MDT) from a major industrial company. The initial production award for this new generation of color MDTs was received in the second quarter of 2005 and this new award doubles the annual production rate. Delivery of the MDTs, which will be manufactured at the Company's Quakertown, PA facility, are expected to commence in the second quarter of 2006 and continue through the first quarter of 2007.
The MDT supports commercial mass transit systems. It is comprised of a switch matrix bezel that allows a driver to transmit and receive real time data and critical information, on a 3x5 inch color display that forms part of a system used to monitor a city's fleet of mass transit vehicles. A city's control center, using satellites and radio transmitters, is able to monitor the location and status of its entire mass transit fleet thereby allowing for quicker emergency response as well as repositioning for passenger volume and mechanical failure.
Richard Hetherington, Chief Operating Officer of the Company's Tulip subsidiary in Quakertown commented, "The new MDT is an updated follow-on design used on a previously successful program with the same customer that was first introduced in 1998. These units were first introduced to mass transit systems in Pittsburgh, Cleveland, San Antonio, Long Beach, CA, Kansas City, MO, and Salt Lake City. Since the display has been so reliable and dependable, other cities such as Vancouver, B.C. and Oahu-Honolulu, HI, have also installed the system in their mass transit vehicles. We are delighted that these new color MDTs have been designated for introduction into the very large transit systems of New York City and Atlanta. Following the test phase in these two cities, we look forward to significant follow-on orders. As MDTs have improved the efficiency and safety of the mass transit systems where they are installed, we would expect them to be considered for other mass transit system upgrades that are underway across the country. Therefore, we are confident that there will be additional demand for our MDT to meet requirements from existing users, as well as other mass transit systems."
Dennis Sunshine, President and CEO of Orbit commented, "This new follow-on order is a confirmation of the outstanding quality of the products designed and manufactured by our Tulip subsidiary. We are confident that additional cities will see the safety and security advantages of this system, and request pilot units for system testing. This new award solidifies our confidence for continued strong operating results for 2006." |
