New ETF Book by Larry Connors - Click here to read more
These most recent awards were received by the company's Integrated Combat Systems (ICS) subsidiary located in Louisville, Kentucky. Total system deliveries under these contract awards are expected to commence in the fourth quarter of 2009 and continue through the second quarter of 2010.
The MK 119 GCSC is an unmanned, environmentally-isolated shipboard enclosure that houses a standard 19 inch electronics rack containing processors, electronic devices, cooling and power conditioning equipment that performs processing, interfacing and data extraction functions designed to meet the most stringent U.S. Navy operational systems requirements.
The MK 437 GMCP is a sub-system component that supports the Naval MK 160 Gun Computer System (GCS). The MK 437 GMCP includes custom fabricated enclosures; Commercial-Off-The-Shelf (COTS) and Non-Developmental Items (NDI) components, which also are designed to meet the most stringent U.S. Navy operational systems requirements.
Both the MK 119 GCSC and the MK 437 GMCP control panels are used on all AEGIS Cruisers and Destroyers, and are operationally integrated with the 5"/54 MK-45 Gun Mount (GM) systems.
Ken Ice, President and Chief Operating Officer of ICS said, "We are delighted to announce these latest orders placed against the multi-year IDIQ agreements in place for the MK 119 GCSC and MK 437 GMCP requirements. I believe the ICS business model for continued growth of custom systems integration and logistics support complements the Orbit International Corp. business model for expanded business opportunities in the marketplace."
Dennis Sunshine, Orbit's President and Chief Executive Officer said, "These contract awards for the MK 119 and MK 437 were received by ICS significantly later than initially expected. However, as previously announced, ICS commenced the procurement process as well as the labor effort for the MK 119 in the second quarter of 2009. As a result, these cabinets are well into the work in process (WIP) cycle and the company is working diligently to meet projected delivery dates on eight of the cabinets by year-end. These latest releases against the MK 119 and MK 437 multi-year IDIQ contracts validate our expectation of significantly improved operating performance for the third and fourth quarters of 2009, when compared to the first two quarters of the year.
"These critical multi-year U.S. Navy programs are designated and funded to upgrade and modernize the current U.S. Navy fleet. ICS continues to provide an integral part of this modernization program. The ICS capabilities will provide hardware and software solutions that will enhance the U.S. Navy fleet's current relevance in the areas of air dominance, land attack and anti-submarine warfare, and will provide force protection in the littoral warfare mission."
Orbit International is involved in the manufacture of customized electronic components and subsystems for military and nonmilitary government applications through its production facilities in Hauppauge, New York, and Quakertown, Pennsylvania; and designs and manufactures combat systems and gun weapons systems, provides system integration and integrated logistics support and documentation control at its facilities in Louisville, Kentucky.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
