spacetoday.net: Orbital Sciences has record financial year

Posted: Sat, Feb 16, 2008, 6:45 AM ET (1145 GMT)
Orbital Sciences Corporation reported record revenues and profits in 2007 on Thursday thanks to strong launch and satellite business. For the fourth quarter of 2007 the company announced a net income of $15.8 million on $293.1 million in revenues, compared to $7.8 million net income on $215.8 million in revenues for the same quarter of 2006. For all of 2007 the company had net income of $56.7 million on $1.084 billion in revenues, up from $35.1 million in net income on $802.9 million in revenues for 2006. The company credited increased business for its communications satellite unit, as well as target and interceptor missile programs, for the increases. Orbital is projecting revenues of at least $1.1 billion in 2008, although it cautioned that its earnings could be reduced if the company decides to invest in the development of Taurus 2, a proposed medium-class launcher.