[Satellite TODAY 04-21-10] Orbital Sciences Corp.’s first-quarter 2010 revenues increased from $295.7 million in 2009 to $296.2 million, the company reported in its latest financial results, released April 20.
    Oribital’s net income also increased slightly from $9.2 million to $9.3 million during the 2010 first quarter, with operating income at $17.4 million, up from $11.2 million in the first quarter of 2009.
    Orbital CEO David Thompson said the company’s growth was driven by a $39.3 million revenue increase generated by its advanced space programs segment due to increased activity on its NASA commercial resupply contract, which offset losses reported by its launch vehicle and satellite divisions.
    Decreased activity on the U.S. military’s ground-based midcourse missile defense program combined with the termination of the Kinetic Energy Interceptor program in the second quarter of 2009 drove Orbital’s launch vehicle segment revenues down to $18.9 million in the first quarter of 2010. However, the segment’s operating income increased by $200,000 due to lower unrecovered research expenses.
    Orbital’s satellites and space systems segment revenues decreased $9.7 million in the first quarter, driven by a lower level of activity on older communications satellite contracts. Satellite losses were offset by activity on three new communications satellite contracts awarded in the fourth quarter of 2009.
    Thompson updated Orbital’s financial guidance for full-year 2010 to reflect the impact of the company’s closing of its acquisition of the spacecraft development and manufacturing business from General Dynamics April 2. “This strategic acquisition is expected to strengthen the company’s competitive position in defense and intelligence, civil government and commercial satellite markets,” Thompson said in a statement.

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