<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report(Date of earliest event reported): August 8, 1996
ORBIT INTERNATIONAL CORP.
(Exact name of registrant as specified in its charter)
Delaware 0-3936 11-1826363
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
80 Cabot Court, Hauppauge, New York 11788
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code(516)435-8300
Not Applicable
(Former name or former address, if changed since last report)
<PAGE>
Item 5. Other Events.
Annexed hereto as Exhibit 1 is a copy of a press release
issued by Orbit International Corp. (the "Company") on August
8, 1996 announcing that it has entered into a letter of intent
for the sale of its East/West Division and announcing its plans
to sell its Canadian Apparel Segment.
Item 7. Exhibits
1. Press Release dated August 8, 1996.
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this Report to be
signed by the undersigned hereunto duly authorized.
ORBIT INTERNATIONAL CORP.
(Registrant)
By: /s/ Mitchell Binder
Mitchell Binder
Vice President-Finance and
Chief Financial Officer
Date: August 13, 1996
<PAGE>
EXHIBIT INDEX
Exhibit Page Number
1. Press Release dated August 8, 1996.
<PAGE>
EXHIBIT 1
CONTACT
FOR IMMEDIATE RELEASE
Mitchell Binder
August 8, 1996
Vice President, Finance
516-435-8300
ORBIT INTERNATIONAL CORP. SIGNS LETTER
OF INTENT FOR SALE OF EAST/WEST
DIVISION; ANNOUNCES PLAN TO SELL
CANADIAN APPAREL SEGMENT
Hauppauge, NY, August 8, 1996 - Orbit International Corp.
(NASDAQ:ORBT) today announced that it has signed a Letter of
Intent ( the Letter of Intent ) for the sale of its East/West
Division to Mezzanotte Design, Ltd. ( Mezzanotte ) which is
expected to close in September, 1996. The Company also
announced that it plans to sell its Canadian Apparel Segment
and has engaged the services of KPMG in Canada to assist in the
sale of the Segment. As a result, the Company will report all
of its apparel operations as discontinued operations in its
second quarter financial statements which results will be
released during the week of August 12, 1996.
The sale of its apparel segments will enable Orbit to return to
its core base of business which is the manufacture of
customized electronic components and subsystems for military
and non-military government applications. In February 1996,
Orbit purchased from Astrosystems, Inc. (NASDAQ:ASTR)
substantially all of the assets of its wholly owned subsidiary
Behlman Electronics, Inc. and substantially all of the assets
of its Military Electronic division.
Under the terms of the Letter of Intent Mezzanotte will
purchase the assets and business of East/West and assume
certain of its liabilities in exchange for a guaranteed minimum
royalty over a four year period and a minority ownership by
Orbit in a subsidiary of Mezzanotte formed for the purpose of
acquiring the East/West division. The terms of the letter of
intent are subject to a negotiated Asset Purchase Agreement
between the parties.
Dennis Sunshine, President and CEO of Orbit commented that the
sale of our remaining apparel segments will enable us to focus
on our electronics business which has consistently produced
solid operating results in recent years. Our business strategy
is to complete the sale of these apparel segments and then
explore opportunities for the expansion of the electronics
business both internally and through additional acquisitions.
Orbit International Corp., based in Hauppauge, New York, is
involved in the manufacture of customized electronic components
and subsystems for military and nonmilitary government
applications. Its Behlman Electronics, Inc. subsidiary
manufactures and sells high quality, distortion free commercial
power units and low noise uninterruptable power supplies (UPS).
The Behlman military division designs, manufactures and sells
power conversion devices and electronic products for
measurement and display. For a more detailed discussion of the
risks inherent in the Company s business the reader is referred
to the Company s Annual Report on Form 10-K for the fiscal year
ended December 31, 1995 and the Company s Quarterly Report on
Form 10-Q for the quarter ended March 31, 1996, each filed with
the Securities and Exchange Commission.
