The MICROWAVE VISION Group (NYSE-Euronext: ALMIC) announced that its subsidiary ORBIT/FR, Inc. (OTCBB: ORFR), has published first half and second quarter 2010 interim results. These results demonstrate a dramatic increase from the same time periods in the year prior. Sales were up by 26.9% to $16.5 million, and operating income increased to $1.09 million vs. a $0.53 million loss last year.
ORBIT/FR provides Antenna, RCS and Radome measurement solutions for the defense, aerospace, telecommunication, automotive, academic and research communities. The Company delivers everything from sophisticated turn-key measurement systems to precision individual components. The MICROWAVE VISION Group, which owns 61.8% of the Company’s outstanding shares, credits these fantastic growth results to a strong and dynamic company strategy.
To most investors, success can often be detected by the movement of the share price. On the NASDAQ, the stock price of ORBIT/FR, Inc. has increased 238% from $0.80 to $2.70 between September 1, 2009 and September 1, 2010. Expansion of sales in all geographic regions contributed to this growth, with Europe, North America and Asia growing $2.8M, $0.4M and $0.3M respectively, compared to the first six months of 2009.
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