Orbital Sciences Q2 Profit Up - Quick Facts

(RTTNews) - Orbital Sciences Corporation(ORB), a maker of small and medium-class rockets and space systems, Thursday reported an increase in net income for the second quarter. For the three-month period, the company reported net income of $16.3 million or $0.27 per share compared with $14.6 million or $0.25 per share during the same quarter last year.

On average, seven analysts polled by Thomson Reuters expected earnings per share of $0.23 for the quarter. Analysts' estimates typically exclude one-time items.

The company generated revenues of $333.1 million compared with $371.3 million during the corresponding quarter last year. The Street estimated the company to report revenues of $358.34 millions. The satellites and space systems segment reported revenues of $93.8 million compared with $130.1 million last year, while the advanced space program segment saw a revenue decrease of 12 percent to $116.6 million. The launch vehicle segment's revenue increased 6 percent to $134 million from last year.

Commenting on the results, David Thompson, Orbital's Chairman and Chief Executive Officer said, "...These results reflect profit margin increases in our launch vehicles and satellites and space systems segments as well as lower interest expense resulting from our debt refinancing transaction late last year. In addition, the company reported strong quarterly new orders and option exercises totaling $875 million, which boosted total contract backlog to $5.4 billion..."