spacetoday.net: Orbital reports 2004 profit

Posted: Thu, Mar 3, 2005, 9:01 AM ET (1401 GMT)
Orbital Sciences Corporation announced Wednesday that the company recorded a sizeable profit in both its fiscal fourth quarter as well as all of 2004. Orbital announced an operating income of $12.3 million on $175.2 million in revenues for the fourth quarter of 2004, compared to an operating income of $13.5 million on $157.8 million for the same quarter of 2003. For all of 2004, the company had an operating income of $55.3 million on revenues of $675.9 million, compared to $35.6 million on $581.5 million in 2003. The increase in revenues came exclusively from a variety of satellite contracts the company had in the last year; launch vehicle revenues were down slightly from 2003. The company said it expects 2005 revenues to be in the range of $700 to $725 million, slightly below previous Wall Street expectations.