spacetoday.net: Orbital reports higher revenue, profits

Posted: Thu, Jul 19, 2007, 5:40 AM ET (0940 GMT)
Orbital Sciences Corporation reported strong revenues and profits in its fiscal second quarter on Wednesday, with growth from both the company's satellite and launch vehicle divisions. Orbital reported a net income of $13.8 million on revenues of $237.3 million in the second quarter, compared to a net income of $9.9 million on $197 million in revenues in the same quarter a year ago. The company's two major divisions, launch vehicles and satellite manufacturing, saw increases in revenues and operating income in the second quarter compared to a year ago. The company is now projecting full-year revenues of $975 million to $1 billion, up from previous estimates of $900-925 million. Company officials said during a conference call with investors that they are studying the development of a larger launch vehicle, the Taurus 2, that could fill the gape when Boeing, as expected, retires the Delta 2 rocket early next decade.