Orbital Sciences Corp. reported a profit of $8.6 million on revenues of $197.7 million in the 2006 third quarter, the company announced Oct. 27. In the 2005 third quarter, Orbital earned $6.8 million on revenues of $159.3 million.

Orbital credited the revenue gains to a 58 percent increase in satellites and space-systems segment revenues to $117.9 million in the third quarter. This was driven by growth in commercial communications satellites due to work on contracts awarded in 2005. The improvement in satellite work overcame an 11 percent drop in launch vehicle revenues to $71.2 million, as a drop in the interceptor launch vehicle and target vehicle product lines offset gains in space launch work.

Orbital reported operating income of $15.3 million in the third quarter of 2006, a 25 percent increase over operating income of $12.2 million in the 2005 third quarter. The gains were again driven by commercial satellite work, as operating income jumped from $3.7 million a year ago to $7.7 million in the most recent quarter. The drop in interceptor work reduced launch vehicle operating income by $1 million, to $7.6 million in the 2006 third quarter.

Orbital booked about $765 million in new firm and option contract in the 2006 third quarter along with $20 million of option exercises under existing contracts. The additions bring Orbital’s firm backlog to about $1.9 billion, and the total backlog to $3.5 billion.