satellite manufacturer and launcher Orbital Sciences [NYSE: ORB] reported revenues of $136.7 million for the first quarter, a 13 percent increase compared with $120.7 million reported in the same quarter a year ago. Dulles, Va.-based Orbital also posted $9.4 million in operating income, an impressive 80 percent increase over $5.2 million in the year-ago quarter. The company reported a quarterly net income from continuing operations of $3.4 million, or $0.07 per diluted share, compared to $2.4 million, or $0.05 per diluted share, in the January-March period last year.