Quarterly Financials
By Staff Writer | October 21, 2004
- Orbital Sciences Corp. [ORB] reported third quarter 2004 revenues to be $171.7 million, up 33 percent from the $128.6 million earned during the same period one year ago. Operating income for the just completed third quarter rose to $14.3 million from $11.2 million reported in the third quarter of 2003. Net income for the third quarter was $11.4 million, compared with a net loss of $30.2 million during the same period one year ago. The company attributed the growth to, among other things, “better than expected” performance in its satellite business, which more than doubled its revenue from one year ago. Along with its financial reporting, the company increased its 2004 forecast of revenues by $10 million to be in the range of $670 million to $680 million.
- KVH Industries Inc.‘s [KVHI] slight increase in revenues during the third quarter of 2004 was not enough to bring about a positive net income. Revenue for the period was $13.8 million, a 2 percent increase from $13.5 million recorded in the third quarter of 2003. The net loss for the period was, however, $1.6 million, compared to a net loss of $470,000 during the same period one year ago. The company did note that its mobile satellite communications revenue increased during the third quarter to $10.3 million, up 12 percent compared with one year ago.