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I would buy this stock....taking into consideration all the general caveats about investing in microcap companies...I would still buy it (GGG)...my opinion only: ORBT 1.67 Nasaq: ORBT Part 1: ORBT (Nasdaq 1.80) is another one of those companies that has basically gotten thru a slower point of time in their business and is now in a period where orders are picking up nicely. They are involved in some military programs that could really add up over the next few years. With only 2.1m shares out there is considerable potential for the bottom line to go up. First, business description, then recent releases and then some new product info. General Business Description: Orbit International Corp. is a provider of electronic components and power units, power conversion devices and electronic devices. The Company conducts its operations through its Orbit Instrument Division, which includes its wholly owned subsidiary, Orbit Instrument of California, Inc., and its wholly owned subsidiary, Behlman Electronics Inc. The Company currently operates in two industry segments. The Orbit Instrument Division is engaged in the design and manufacture of electronic components and subsystems (the Electronics Segment). The Behlman subsidiary is engaged in the design and manufacture of distortion-free commercial power units, power conversion devices and electronic devices for measurement and display (the Power Units Segment). Electronics Segment The Orbit Instrument Division has designed and developed a complement of display panels for rugged mission-critical applications. The display panels provide customers with potential program solutions that include Electro Luminescent (E.L.), Alternate Current (AC) Plasma and Liquid Crystal Display (LCD) technologies. The Orbit Instrument Division has also completed land-based and shipboard secure voice telco-based designs, and has been awarded a basic ordering agreement from Naval Surface Warfare Center in Crane, Indiana. The Orbit Instrument Division's family of graphic terminals enables the operator to monitor and control radar systems for shipboard and airborne applications. These terminals are used throughout a ship or surveillance plane as adjuncts to larger console displays. The modular design of the terminals facilitates applications for surface ship, submarine, aircraft and land-based requirements. The Orbit Instrument Division designs and manufactures a variety of operator control trays that help organize and process data created by interactive communications systems, making such data more manageable for operator consumption. These trays are presently used to support patrol and surveillance airborne aircraft programs, standard shipboard display console requirements and shore land-based defense systems applications. The Orbit Instrument Division has designed and manufactured a variety of computer-controlled action-entry panels (CCAEPS), which provide a console operator with multiple displays of computer-generated data. The Orbit Instrument Division has designed a number of custom keyboards to meet full military specifications. These keyboards have been designed for shipboard, airborne, sub-surface and land-based program requirements. The Orbit Instrument Division developed a family of 18.1-inch and 20. 1-inch color LCD display panels for military and rugged commercial opportunities. The display is manufactured using Super Fine TFT (thin film transistor) active matrix technology. The display is backlit with Cold Cathode Fluorescent Tubes (CCFT) and is driven by an integral inverter. The Company has adapted this technology for high brightness and full-color imaging requirements. The Company is positioning this technology for surface-ship and trading-floor opportunities. The Orbit Instrument Division has completed a design configuration for a TFT color LCD with an integral touch screen for input from the operator. The unit is powered by an ultra-compact high-performance 486 processor. The airborne and land-based display configurations also include up to 32 megabytes of RAM, with wide angle (640 by 480) technology. The video graphics array (VGA) single-board computer includes a serial port (RS-232/422) and expansion capabilities through a PC/104 carrier module. The Orbit Instrument Division is currently under order for command display panels that will be utilized for vehicular, shipboard and sheltered platform requirements. When complete, each display will also be both sunlight readable and night vision certified for aircraft environments. Power Units Segment Behlman's AC power sources are used in the production of various types of equipment, such as ballasts for fluorescent lighting, cathode ray tube (CRT) terminals, hair dryers, hospital beds, vacuum cleaner motors, compressors, circuit breakers and paint-spray equipment, and are used in test labs to meet European Community required testing, aircraft testing and simulators. Other uses include powering equipment for oil and gas exploration. Behlman's frequency converters are used to convert local power frequency, such as 60HZ in the United States, to local frequencies elsewhere, such as 50 HZ in Europe, and are used in the testing of commercial and military aircraft. Behlman's uninterruptible power supplies (UPS) products are used for back-up power when local power is lost. Behlman only competes in the ruggedized and industrial market, as opposed to the commercial UPS market. Behlman is a manufacturer and value-added reseller of these products and has recently added a new line of high power UPS systems. Behlman's military and custom power supply division designs and manufactures power supplies that use commercial off-the-shelf (COTS) power modules to meet the customer's environmental specifications. This technique requires less engineering and produces a more reliable product at a lower cost to the customer. Behlman also performs reverse engineering of analog systems for the United States Government or United States Government contractors to enable them to have a new contractor with capabilities at a competitive price. Behlman's railroad signaling power supply has been sold to railway passenger lines in the Northeastern and Southwestern United States. The railroad industry buys frequency converters and inverters. Behlman has set up a representative organization and strategic advertising campaign, along with training programs for representatives, and has been meeting with different railroad organizations for the purpose of promoting its products and gaining an understanding of the needs of the industry. Behlman's Power Passport P1350 is a low-cost basic instrument for use in the import/export and aerospace markets. The P series has fewer features but is priced below Behlman's BL series. Another version, the P1351, is an intermediary version between the P1350 and the BL1350 in terms of cost and function. Several orders for these units have been received by Behlman. Behlman also operates as a qualified repair depot for many United States Air Force and Navy programs. Recent releases: (BSNS WIRE) Orbit International Corp. Receives New Orders in Support of Fed Orbit International Corp. Receives New Orders in Support of Federal Aviation Administration Business Editors HAUPPAUGE, N.Y.--(BUSINESS WIRE)--Sept. 25, 2001--Orbit International Corp. (Nasdaq:ORBT) today announced that it has received orders for its backlit keyboard in support of the Federal Aviation Administration Standard Automation Replacement System (STARS) ARTS Program. The award, which has brought the number of units currently under order to approximately $1,000,000, is a multi-year production award for units that includes both desk top and console mounted keyboard configurations. Dennis Sunshine, president and CEO, commented, "These keyboard units will be phased into Airport Control Towers and support the latest console system technology for the Department of Transportation and Federal Aviation Administration. Orbit's marketing and operations staff, headed by COO Bruce Reissman, had been working with the prime contractor to design and qualify several keyboard configurations through stringent U.L. guidelines that eventually met government approval." Sunshine continued, "Although the timing of the potential retrofit for the thousands of units that are currently incorporated into the older system countrywide is unknown, the Company is confident that we will receive additional contract awards under this multi-year program. Regardless of the amount however, having the opportunity to support the safety of the Air Traffic Control Tower systems throughout the country is something our Company is extremely proud to be a part of." B: Orbit International Corp. Power Unit Segment Receives New Or B: Orbit International Corp. Power Unit Segment Receives New Orders HAUPPAUGE, N.Y., Sep 5, 2001 (BUSINESS WIRE) -- Orbit International Corp.(NASDAQ:ORBT) today announced that its Power Unit Segment, Behlman Electronics, Inc. has received an order from the Defense Supply Center Richmond for just over $1,000,000 for Roll Resolver Assemblies used on the FLIR system for the F/A-18 aircraft. Shipments under this contract are scheduled to commence in mid-2002 and continue into 2003. Orbit also announced that its Power Unit Segment has received orders from three companies in the oil and gas exploration industry. Behlman had supplied its equipment to a company in this industry in the past, but revenues had decreased in recent years due to falling oil prices. However, due to the increase in oil prices in recent months, Behlman has noted an increase in demand for its power units from several oil and gas service companies. Dennis Sunshine, President and CEO commented, "We are pleased to have received these new contracts for our Power Unit Segment. The U.S. Government had been looking for a source for various assemblies on the FLIR system and Behlman successfully demonstrated its engineering skills by supplying power unit modules for the system. Behlman is continuing to work with the Government and major suppliers to the Government on the FLIR system". | ||||||||||||||
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