Orbital reports increased profit despite flat revenue
Posted: Wed, Apr 24, 2013, 7:16 AM ET (1116 GMT)
Orbital Sciences Corporation reported Tuesday an increase in net income in the first quarter of 2013 over a year ago despite no growth in the company's revenues. Orbital reported a net income of $19.6 million on $334.8 million in revenue for the first quarter of 2013, compared to $13.0 million of net income on $338.0 million in revenue for the same quarter of 2012. The company said that improved operating margins as well as restructuring of the company's long-term debt accounted for the increased net income. The company said in a later conference call with analysts that it is working on an all-electric-propulsion version of its commercial satellite buses, spurred on by similar developments by Boeing.
Orbital Sciences Corporation reported Tuesday an increase in net income in the first quarter of 2013 over a year ago despite no growth in the company's revenues. Orbital reported a net income of $19.6 million on $334.8 million in revenue for the first quarter of 2013, compared to $13.0 million of net income on $338.0 million in revenue for the same quarter of 2012. The company said that improved operating margins as well as restructuring of the company's long-term debt accounted for the increased net income. The company said in a later conference call with analysts that it is working on an all-electric-propulsion version of its commercial satellite buses, spurred on by similar developments by Boeing.
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