Orbit International Corp. Reports 2026 Third Quarter Results

Mitchell Binder, President and CEO of Orbit International Corp.

“Lower than anticipated bookings in the second half of 2025 once again attributed to lower delivery schedules, which adversely affected our revenue and operating performance for the first nine months of 2026, particularly at our Orbit Instrument division.”

Mitchell Binder, President and CEO of Orbit International Corp.

“Our operating results for the nine months ended September 30, 2026 were negatively affected by significantly lower sales by our Orbit Electronics Group (“OEG”) exclusive of our Simulator Product Solutions LLC (“SPS”) subsidiary.”

Mitchell Binder, President and CEO of Orbit International Corp.

“Our Orbit Instrument division has historically been our best performing operating unit with strong operating leverage.”

Mitchell Binder, President and CEO of Orbit International Corp.

“Delivery schedules are expected to improve in the current fourth quarter of 2026.”

Mitchell Binder, President and CEO of Orbit International Corp.

“Operating results for SPS for the nine months ended September 30, 2026 were adversely impacted by lower than expected sales, particularly in the first quarter, a consequence of reduced bookings in the second half of 2025 caused by contract delays that were eventually awarded in 2026.”

Mitchell Binder, President and CEO of Orbit International Corp.

“Revenue during the three months ended September 30, 2026, came in lower than expected due to supply chain issues which have delayed certain shipments until the fourth quarter.”

Mitchell Binder, President and CEO of Orbit International Corp.

“However, operating results were significantly improved from the prior comparable nine-month period as gross margins have increased and costs were tightly controlled.”

Mitchell Binder, President and CEO of Orbit International Corp.

“Assuming bookings begin to improve as a result of an increase in outstanding proposals, we expect improved operating results in the fourth quarter from SPS and a higher year-end backlog than the prior year.”

Mitchell Binder, President and CEO of Orbit International Corp.

“An increase in sales from current levels is still needed to bring the subsidiary to profitability.”

Mitchell Binder, President and CEO of Orbit International Corp.

“The increase from the prior comparable period was primarily due to higher corporate costs due increased legal fees and non-cash stock compensations costs as well as higher expenses at SPS principally due to higher legal costs.”

Mitchell Binder, President and CEO of Orbit International Corp.

“Although we had expected these contracts to be placed during various times during 2026, these customers have informed us that these awards are now expected to be placed during the first half of 2027.”

Mitchell Binder, President and CEO of Orbit International Corp.

“While the timing of the awards from the U.S. Government has always been subject to uncertainty, we believe that several macroeconomic factors beyond our control have contributed to delays that are unprecedented in both their number and duration.”

Mitchell Binder, President and CEO of Orbit International Corp.

“Despite the delays at the Orbit Instrument division, bookings at our OPG continue to improve as bookings through October 31, 2026 have increased by 42.9% over the comparable year period and bookings for power supplies utilizing VPX technology have exceeded $5,000,000 for the first time.”

David Goldman, Chief Financial Officer of Orbit International Corp.

“At September 30, 2026, our cash and cash equivalents aggregated approximately $912,000 and borrowings under our Line of Credit (“LOC”) were $2,576,000.”

David Goldman, Chief Financial Officer of Orbit International Corp.

“The new LOC provides for up to $6,000,000 in financing subject to borrowing base availability and the private placement included the issuance of 1,630,000 shares of common stock at $2.50 per share.”