It was a great way to end the year for this company with record breaking orders totaling more than US$20 Million that are from a huge variety of organizations covering everything from; the U.S. Air force, a U.S. aircraft manufacturer, an Asian defense organization, a Search and Rescue organization, Airbus, a cruise ship maritime company, and the Israel Ministry of Defense. The company is ...
Orbit Communications Systems Ltd. (TASE: ORBI), a provider of precision tracking-based communications solutions and airborne communications management systems.
Eitan Livneh, Orbit’s CEO said that 2017 was an important year for Orbit, and their financial stability was enhanced when FIMI Opportunity Funds became their controlling shareholder and their strategic focus was validated by a record month of orders in December.
And those record orders are listed below that include the U.S. military's Air Force, an Asian defense organization, Search and Rescue, Airbus, OceanTRx™maritime satellite communications and Israel Ministry of Defense.
Highlights of seven key Orbit Communications Systems deals:
- On December 5, a leading U.S. aircraft manufacturer and defense contractor ordered several digital audio management systems worth approximately US$1 Million. Delivery of the initial systems is expected in 2018 and will be used for integration testing.
- On December 7, an Asian defense organization ordered aeronautical telemetry systems for approximately US$7 Million. Delivery of the high-precision systems is expected to continue until 2020.
- On December 20, the United States Air Force extended its service contract with Orbit for approximately US$1 Million. The renewal will go into effect in 2018.
- A global Search and Rescue leader ordered multiple Gaia 100 ground stations worth approximately US$1.4 Million, with delivery expected in 2018 and 2019. This repeat order refers to a framework agreement first announced on February 23, 2017.
- Airbus placed a follow-on order for Orbit’s Airborne Digital Audio Management Systems (ADAMS™) worth approximately US$1.6 Million. Delivery of the systems, customized for a leading Coast Guard, is expected to begin in 2018 and continue through 2022.
- Orbit received a repeat order from a global NGSO (Non-Geostationary Satellite Orbit) satellite operator worth approximately US$2.8 Million for its OceanTRx™ 7-500 Ka-band maritime satellite communications platform. Delivery of the additional systems, which will deliver continuous broadband connectivity via satellite to cruise ships, is expected in 2018.
- Orbit received a follow-on order worth approximately US$6 Million from the Israel Ministry of Defense (MoD) for advanced communications systems. This latest order is part of a long-term agreement between Orbit and the MoD, with delivery expected during 2018 and 2019.