spacetoday.net: Orbital reports drop in net income

Orbital reports drop in net income

Posted: Fri, Jul 22, 2005, 10:16 AM ET (1416 GMT)
Orbital Sciences Corporation had a drop in its net income even as revenues and operating income remained steady, the company announced Wednesday. In its fiscal second quarter Orbital reported an operating income of $14.7 million on $117.4 million in revenues, nearly identical to the $14.5 million operating income on $177.7 million in revenues the company reported in the same quarter of 2004. However, the company's net income fell to $7.6 million in the quarter compared to $11.1 million in 2004. Revenues from its two largest divisions, launch vehicles and satellites, were steady in the 2nd quarter compared a year ago.