Orbital reports 3rd quarter profit
Posted: Fri, Oct 22, 2004, 1:43 PM ET (1743 GMT)
Orbital Sciences Corporation reported a profit in its fiscal third quarter on Thursday, in part because of stronger-than-expected growth in its satellite manufacturing unit. Orbital had net income of $11.4 million in the third quarter on revenues of $171.1 million, compared to a net loss of $30.2 million on $128.6 million in revenues for the same quarter of 2003. For the year to date Orbital has reported net income of $33.9 million on $500.8 million in revenue. Company officials credited the satellite manufacturing division for providing better-than-expected performance, doubling its revenue from the previous year. The company's profits of 18 cents a share beat analysts' estimates of 15 cents a share prior to the earnings release.
Orbital Sciences Corporation reported a profit in its fiscal third quarter on Thursday, in part because of stronger-than-expected growth in its satellite manufacturing unit. Orbital had net income of $11.4 million in the third quarter on revenues of $171.1 million, compared to a net loss of $30.2 million on $128.6 million in revenues for the same quarter of 2003. For the year to date Orbital has reported net income of $33.9 million on $500.8 million in revenue. Company officials credited the satellite manufacturing division for providing better-than-expected performance, doubling its revenue from the previous year. The company's profits of 18 cents a share beat analysts' estimates of 15 cents a share prior to the earnings release.
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