Orbit Ends 2017 with Record Orders in December worth over US$20 Million
Seven key deals contribute to the best December in company history
Netanya, Israel, January 11, 2018 – Orbit Communications Systems Ltd. (TASE: ORBI), a leading provider of precision tracking-based communications solutions and airborne communications management systems, announced today that it ended 2017 with record orders in December worth over US$20 million.
Below are highlights of seven key deals.
As announced on December 5, a leading US aircraft manufacturer and defense contractor ordered several digital audio management systems worth approximately US$1 million. Delivery of the initial systems, which will be used for integration testing, is expected in 2018.
As announced 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.
As announced 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.
“2017 was an important year for Orbit,” stated Eitan Livneh, Orbit’s CEO. “Our financial stability was enhanced when FIMI Opportunity Funds became our controlling shareholder and our strategic focus was validated by a record month of orders in December.”
Orbit Communications Systems Ltd. is wholly-focused on precision tracking-based communications – in the areas of satcom, telemetry and remote sensing – and provides an innovative solution for airborne audio management. With certification by defense, government and commercial agencies, we deliver tailor-made, turnkey solutions at sea, on land and in the air. Orbit’s unique combination of smart design, high reliability and field-tested experience means that if you can conceive it, we can provide it.
Head of Communications
Gelbart-Kahana Investor Relations