[Satellite Today 07-29-09] Orbital Sciences’ net profits dropped 65 percent to $8.7 million from $25.1 million in 2008, according to its 2009 second-quarter financial reports released July 28.
    The satellite manufacturer’s revenues saw a 10 percent decline to $270.1 million, falling nearly $27 million short of what industry analysts expected the company to earn.
Orbital said the shortfalls were caused by weaker satellite and advanced program revenues and decreased contract activity on both the Orion human spacecraft program and communications satellite programs.
    As a result of the company’s performance, it is cutting its 2009 outlook. Orbital now expects to earn between $1.11 billion to $1.14 billion for the year, down from its previous forecast range of $1.15 billion to $1.18 billion. “We reduced our revenue and profit estimates for the year due to delayed satellite orders, the termination of a missile defense contract and reduced margins in advanced space programs,” Orbital CEO David Thompson said in a statement.