[Satellite Today 07-17-08] Orbital Sciences Corp. reported revenues of $301.2 million in the 2008 second quarter, a 15 percent improvement over revenues a year ago, the company announced July 17.
    The company posted a profit of $25.8 million in the quarter, which closed June 30, compared to earnings of $13.8 million. The earnings reflected a $15 million gain on the sale of the company’s Transportation Management Systems (TMS) business unit, which closed in June.
    Orbital credited the revenue gains to significant growth in the advanced space programs and launch vehicles segments. Advanced space programs segment revenues nearly doubled to $38.2 million, driven by increases in contract activity on NASA’s Orion program and on national security satellite programs. Launch vehicles segment revenues increased $12.8 million, principally due to increased contract activity on missile defense and space launch vehicle programs. Both segments also reported gains in operating income
    Satellites and space systems segment revenues decreased $10.4 million due to decreased activity on science and technology satellite contracts. Segment operating income was unchanged at $7.6 million, primarily due to higher operating profit margins from communications satellite contracts and a favorable $1.1 million adjustment related to the settlement of a contract dispute.