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Orbit
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Controlled by the Phimie Foundation (31.4%) and deals with satellite communications, tracking systems and solutions for contact and audio management in airborne systems, announces receipt of an order from a security integrator for portable and digital tracking systems based on the company’s direction system, 4034-AL, and development of dedicated antennas totaling $ 2.3 million , When the delivery of the systems is expected in 2023.
Orbit’s AL-4034 system is a modular system, designed for field applications that require high-precision tracking and payload capabilities, such as telemetry and point-to-point radio communication stabilization. The AL-4034 system includes a stabilizer capable of maintaining the azimuth axis definition that allows for high performance even in the most extreme terrain conditions. The system is easy to install and can be installed at the base station, on a propelled vessel, or on a sailing vessel to suit special needs and customers.
Daniel Eshhar, CEO of Orbit, stated: “This transaction demonstrates a security customer’s confidence in Orbit’s technological capabilities when it comes to a robust, reliable and accurate solution for space-based applications that require highly accurate tracking capabilities and point-to-point RF communication, in order to allow the customer maximum operational flexibility. Connecting with key customers while providing reliable solutions ”
In its most recent reports, the company reported revenue in the first quarter of 2022 totaling $ 12.5 million compared to $ 12.1 million in the corresponding quarter. Gross profitability improved despite problems in supply chains and reached 37.8% of revenue compared to 32.4% in the corresponding quarter. Operating income was $ 1.7 million compared to $ 0.8 million in the same quarter last year. EBITDA was $ 2.5 million compared to $ 1.4 million in the same quarter last year. On the bottom line, the company reported a profit of $ 1.4 million compared to $ 0.9 million in the corresponding quarter.
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