Preheat oven to 350°. Grease and flour a 10-in. fluted tube pan. In a large bowl, beat eggs on high speed 3 minutes. Gradually add sugar, beating until thick and lemon-colored. Gradually beat in oil. Beat in ground almonds, milk, orange zest and vanilla. In another bowl, whisk flour, baking powder and salt; fold into egg mixture. Transfer batter to prepared pan, spreading evenly. Bake until a toothpick inserted in the cake comes out clean, 45-50 minutes. Cool in pan 15 minutes before removing to a wire rack to cool completely.
For icing, in a small bowl, whisk confectioners’ sugar and enough orange juice to achieve a drizzling consistency. Drizzle over cake. If desired, sprinkle with almonds.