Orbital Sciences Corporation [NYSE:ORB] Board of Directors has authorized the company to repurchase up to $50 million of its common stock over a 12-month period, starting April 25th. The Board’s authorization will replace a previous $50 million securities repurchase program that expires May 2, 2008, under which Orbital has repurchased $45.2 million of its common stock. Since mid-2004, when Orbital’s buyback program was initiated, the company has repurchased approximately $153 million, or 9.6 million shares, of its common stock for an average purchase price of $15.99 per share—Dulles, Virginia
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