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Orbital Sciences posts 25 percent revenue growth in second quarter

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Orbital Sciences Corp. saw revenue rise to a new record in the second quarter. The Dulles-based provider of aerospace services posted revenues of $337.7 million, up $67.6 million or 25 percent, compared to $270.1 million for the second quarter last year.

For the first six months, revenue stood at $633.9 million, up from $564.8 million for the same period in 2009.

Second quarter net income, however, dropped to $6.3 million, or 11 cents per diluted share, compared to $8.7 million, or 15 cents per diluted share, a year ago. Depressing earnings were transaction expenses related to Orbital’s acquisition of the spacecraft development and manufacturing business of General Dynamics Advanced Information Systems and NASA‘s cancellation of a major contract.

 


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