Orbit: $ 4.8 million order from Asia – Capital Market

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Reports receiving an order from the Asian Navy for OceanTRx 4 and OceanTRx 7 satellite communications systems, totaling approximately $ 4.8 million. The supply of the systems, which will provide the fleet with continuous satellite connectivity over broadband, is expected during 2021.

OceanTRx 4 is a satellite communications system designed for a marine platform and supports a variety of configurations of 1.15 meter diameter antenna systems, operating at Ku, X and Ka frequencies. Designed for quick and convenient installation, maintenance and upgrade, the OceanTRx 4 system combines RF performance and exceptional system availability.

OceanTRx 7 is a satellite communications system designed for a marine platform and supports a variety of configurations of 2.2 meter diameter antenna systems, operating at Ku, C, X, Ka frequencies and also in Dual Band and automatic configurations. Designed for quick and convenient installation, maintenance and upgrade, the OceanTRx 7 system combines RF performance and exceptional system availability.

Last month, it chose to receive another order from the American satellite communications company INMARSAT, amounting to about $ 2.5 million. The systems will be delivered during 2021, as part of a long-term framework agreement signed in March 2019. In the past three months, Orbit has received orders from customers in the amount of more than $ 15 million: tracking systems and solutions for contact and audio in airborne systems worth $ 2.5 million, order from the American aircraft manufacturer Lockheed Martin for Orbit’s Orion Combat system, the communication and audio management system for F-16 aircraft worth about $ 6 million, to be realized in the next three years.

Daniel Eshhar, CEO of Orbit: “We are proud of a significant order from this returning customer, which emphasizes and establishes the technological advantage of our satellite communications systems which are among the most advanced in the world. This order strengthens Orbit’s technological leadership in satellite communications systems in general and advanced navies in particular. And we are working hard to increase the sabra, to establish our leading position in the target markets and to ensure the long-term growth of the company. ”

In an interview with BizPortal last month, Orbit’s CEO predicted Daniel Eshchar Because the same signing with Lockheed Martin will lead to an increase in orders from other American companies. A forecast that came true faster than expected. This morning, Daniel Eshhar said: “We are very proud of another order from an American customer who is a market leader in the world of satellite communications services – who has once again chosen Orbit as a leading provider of airborne satellite communications systems and thus expresses confidence in Orbit’s technological ability.” This order strengthens Orbit’s technological leadership “In satellite communication systems in general and airborne systems in particular, Orbit is bringing a leading product to this market on March 20, 2019, which is one of Orbit’s growth engines.”

The new orders in the last quarter are expected to support Orbit’s profit line. This is when the company’s net profit in the previous quarter was just over a million dollars. The modest profit was recorded against the background of the decrease in the company’s sales in the first nine months of 2020 compared to the corresponding period last year due to the effects of the corona.