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Micro-Cap Announces Significant New Orders For Q4 2009 Totaling $12 Million
By: AllPennyStocks.com News
January 21, 2010
A sign that perhaps the recession is lifting, however slowly, came in the third week of January, with news that Pennsylvania-based ORBIT/FR Inc. (OTCBB:ORFR) was taking on new offshore orders for its state-of-the-art outdoor antenna measurement system.
The company, headquartered in the town of Horsham, also told the media it was shipping a turnkey compact range, to be installed somewhere in Asia, along with the antenna system. The company announced on January 20 that the compact range antenna measurement system will be delivered as a fully turn-key facility including anechoic chamber, positioning equipment, rolled edge reflector, as well as instrumentations and control software.
ORFR, with locations in Israel and Germany, as well as the U.S. is a pioneer of modern antenna measurement, dedicated to supporting the antenna test and measurement needs of the defense, aerospace, automotive, and telecommunications industries.
Developed over several decades of accumulated experience, ORFR’s microwave test and measurement products support Near-Field, Far-Field, and Compact Range measurement technologies.
Originally known as Orbit Advanced Technologies, the company was incorporated in 1985 as a wholly-owned subsidiary of Orbit-Alchut Technologies, based in Israel, to provide sales and customer support for Alchut's products in the United States, including positioning subsystems. In 1991, Technologies began to focus on the development and design of its own proprietary microwave test and measurement products and systems.
In 1994, the Technologies arm recognized the potential for providing customers with fully integrated microwave test and measurement solutions and began incorporating its software technology with hardware from third-party manufacturers, including Alchut.
Two years later, the company was incorporated in Delaware in its current form, and its German arm, ORBIT/FR Europe, GmbH was incorporated, to develop compact range measurement systems and components. GmbH is responsible for sales, marketing and customer support to the European market. Clearly, ORFR has global aspirations, and the January contract appears to be fulfilling some of those goals.
The company seeks to grow market share and profitability in order to achieve maximum results, by leveraging their global presence, technological breadth, and through innovation and partnerships with others in its industry.
The news of the contract sent ORFR stock soaring past its previous 52-week high, up to $1.70 on January 21, a hike of 20 cents or 13.3% in just one morning, towering over its 52-week gulch of 38 cents, to which it fell last May, when much of the market – including the tech sector – was just shaking off the effects of the stock market plunge. Even at the $1.70 loft, the company still has room to grow, and investors ignore this upward trend at their peril.
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