Orbital Sciences Corporation [NYSE:ORB] has revealed the company’s financial results for the third quarter and first nine months of 2007. Orbital’s third quarter revenues increased 46 percent to $289.5 million in 2007, compared to $197.8 million in 2006. The company’s third quarter operating income rose 54% to $23.2 million in 2007, compared to $15.1 million in 2006. Third quarter net income increased 84 percent to $15.7 million in 2007, compared to $8.5 million in 2006. Diluted earnings per share increased to $0.26, compared to $0.14 in the third quarter of 2006. Orbital reported third quarter 2007 free cash flow of $22.4 million compared to free cash flow of $21.3 million in the third quarter of 2006.
Commenting on Orbital’s third quarter 2007 results, Mr. David W. Thompson, Chairman and Chief Executive Officer, said, “The company reported strong revenue growth in all three of our business segments, boosted profit in most product lines, and generated solid free cash flow in the third quarter. Following the pattern established earlier in the year, communications satellites, human space systems and missile defense programs drove our revenue growth in the quarter.”—Dulles, Virginia
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