Orbital Sciences Corp. posted earnings of $9.8 million in its 2006 second quarter on revenues of $197 million, the company announced July 20. In the same period in 2005, Orbital reported earnings of $7.6 million on revenues of $177.4 million.

Growth in the second quarter, which closed June 30, was driven by a 27 percent increase in revenues in the satellites and space systems segment revenues. Improvements from $84.8 million in revenues in the 2005 second quarter to $108 million in the most recent quarter was due to an increase in the communications satellites product line. The growth was offset partially by a revenue decrease in the science, technology and defense line due to the completion and launch of a defense satellite in the second quarter. Operating income grew from $5.5 million a year ago to $7.4 million in the 2006 second quarter.

Revenues in the launch vehicles segment revenues slipped 9 percent from $87.9 million to $80.4 million due to lower revenues from the interceptor launch vehicle and the target vehicle product lines, partially offset by higher revenues from the space launch vehicle product line. Operating income in launch vehicles remained relatively flat at $8.6 million.

“Our satellite manufacturing segment posted strong revenue and operating profit growth, while our launch vehicles segment continued its solid operating income performance,” David Thompson, Orbital’s chairman and CEO, said in a statement. “These operating results, combined with the robust cash flow and new business bookings achieved in the second quarter, continue to signal a very optimistic outlook for Orbital this year.”