spacetoday.net: News briefs: July 18

Posted: Fri, Jul 19, 2002, 7:57 AM ET (1157 GMT)

Lockheed Martin reported a slight increase in Space Systems earnings for its fiscal second quarter Thursday. The company reported earnings of $122 million for the second quarter on $1.78 billion in sales; earnings were slightly higher even though sales were slightly lower compared to the same quarter in 2001. The company said that increased commercial launch activity and lower commercial satellite losses helped offset decreased government space activity.
TRW reported Thursday lower sales but higher profits for its Space and Electronics division for the second quarter. The division has $510 million in sales, four percent lower than the same quarter in 2001, but operating profit increased eight percent to $33 million. The company said improved performance on existing programs offset losses incurred when the Astrolink program was discontinued late last year.
The first Atlas 5 rocket passed its final countdown test earlier this week, Spaceflight Now reported. The test was the third and final test before the launch, scheduled for 6:09 pm EDT (2209 GMT) August 12. The rocket will launch the HotBird 6 satellite for Eutelsat.