Orbital Sciences Corp. reported sales of $703.5 million in 2005, up from revenues of $675.9 million in 2004, the company announced Feb. 22. Orbital’s profit in 2005 was $28.2 million, a steep decline from earnings of $200 million in 2004, though the company said when 2004 earnings are adjusted under the same accounting rules used in 2005, the comparable 2004 profit was only $26.2 million.

The Launch Vehicles segment reported revenues of $335.3 million in 2005, compared to revenues of $323.3 million in 2004. The growth was driven by higher revenues in interceptor launch vehicles and target launch vehicles, offset by lower revenues from space launch vehicles.

Revenue in Satellites and Related Space Systems improved from $331.7 million in 2004 to $348.6 million in 2005, due to higher revenues from communications satellites, which was offset partially by lower revenues from science, technology and defense satellites and technical services.