Orbital Sciences Corp. posted a profit of $7.6 million in the second quarter of 2005, down from a profit of $11.1 million in the same period in 2004, Orbital reported July 20. Revenue dipped slightly throughout the same period, falling from $177.7 million in the second quarter of 2004 to $177.4 million in the most recent quarter, which ended June 30.

“Short-term production and delivery delays in our Orbital Boost Vehicle missile interceptor and several commercial communications satellites limited revenue growth, but the outlook remains good for increased deliveries in the second half of 2005,” David Thompson, Orbital’s chairman and CEO, said in a statement.

Orbital continues to forecast 2005 revenue to fall between $700 million and $725 million, but lowered its expected operating income margins by 0.5 percent to a range of 7.5 to 8 percent.

Orbital’s earnings announcement did not address the ongoing investigation by the U.S. government into unspecified activities by the company. On May 27, agents from the Defense Criminal Investigation Service, an investigative arm of the Inspector General of the U.S. Department of Defense, executed search warrants at Orbital’s Dulles, Va., and Chandler, Ariz., facilities. The results of that investigation to date have not been made public.