Orbital 4th-Quarter Profit Doubles

Satellite and rocket maker Orbital Sciences Corp. said its fourth-quarter profit doubled, due partly to strong revenue from its advanced space programs business. Orbital earned $15.8 million, compared with $7.8 million in the same quarter last year. The company’s revenue rose 36 percent, to $293.1 million, from $215.8 million. The company’s launch vehicles business also grew, with fourth-quarter revenue totaling $104.6 million, up 30 percent from the year-ago quarter. Orbital’s research and development expenses also nearly tripled, to total $6.9 million in the quarter. For the full year, Orbital’s profit totaled $56.7 million, or 93 cents per share, up from $35.1 million, or 56 cents per share, in 2006. The company’s revenue totaled $1.08 billion, compared with $802.86 million in 2006.

Spacehab Reports Financial Results for Second Quarter

(Source: Business Wire)
Spacehab posted a second quarter fiscal 2008 net loss of $32.8 million on revenue of $4.3 million, compared with a second quarter fiscal 2007 net loss of $1.8 million on revenue of $12.9 million. In November 2007, the Company converted the Series C convertible preferred stock into 89.9 million shares of common stock and affected a 1 for 10 reverse split.