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Orbital reports sharp increase in revenue, income
Posted: Sat, Oct 20, 2007, 10:14 AM ET (1414 GMT)
Orbital Sciences Corporation reported this week a significant increase in its revenues and income in its fiscal third quarter due to expanded activity on satellites and NASA's Orion spacecraft. The company reported net income of $15.7 million on revenues of $289.5 million in its fiscal third quarter, compared to net income of $8.5 million on revenues of $197.8 million in the same quarter of 2006. The company said it had increases in revenue from both its satellite and space systems division, thanks to work on commercial spacecraft and the launch abort system for NASA's Orion spacecraft, as well as launch vehicles, primarily because of missile defense programs. The company now anticipates full-year revenues of about $1.05 billion, up from previous estimates of $975 million to $1 billion. Orbital is also forecasting revenues of $1.075-1.1 billion for 2008, although the amount of operating income it expects will depend on whether the company elects to begin development of a new launch vehicle, the Taurus 2.
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