Orbit International, Hauppauge
Orbit International, Hauppauge
defense and industrial electronics maker
Quarter: Ended March 31
Net income: Loss of $647,000, compared with loss of $353,000 in the same quarter last year.
Net revenue: $5.5 million, compared with $6 million in the year-ago quarter.
Outlook: Dennis Sunshine, president and CEO, said: "We are pursuing a number of program opportunities that should have a positive impact on our backlog and our operational results for the remainder of 2010 and beyond. "
Company statement: "This [first-quarter] shortfall can be attributed to . . . timing issues. Both net sales and profitability were adversely affected by approximately $2.5 million of production orders previously scheduled for delivery in the first three quarters" but delayed by customers.
Rain, snow, sleet for morning commute ... Sentencing in body parts case ... Thomas Valva's mother agrees to settlement ... When Springsteen brought 'Santa' to LI
Rain, snow, sleet for morning commute ... Sentencing in body parts case ... Thomas Valva's mother agrees to settlement ... When Springsteen brought 'Santa' to LI
