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Orbital reports profitable 2009
Posted: Sat, Feb 20, 2010, 9:46 AM ET (1446 GMT)
Orbital Sciences Corporation reported a profit in the fourth quarter of 2009 and for the full year, although overall profits and revenues were below 2008 numbers. Orbital announced Thursday net income of $9.3 million on $282.3 million in revenues for the fourth quarter of 2009, compared to $9.0 million on $305.2 million for the same quarter of 2008. Those results beat analysts' expectations For all of 2009 Orbital had net income of $36.6 million on revenues of $1.125 billion, compared to net income of $58.5 million on revenues of $1.169 billion in 2008. Decreases in satellite revenue were largely offset by increases in advanced space systems work. Looking forward the company is still expecting 2010 revenues of about $1.2 billion.
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