{"id":84945,"date":"2011-04-26T23:21:09","date_gmt":"2011-04-26T15:21:09","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/orbital-sees-geo-satellite-growth-preparing-for-taurus-2-cots-demo\/"},"modified":"2011-04-26T23:21:09","modified_gmt":"2011-04-26T15:21:09","slug":"orbital-sees-geo-satellite-growth-preparing-for-taurus-2-cots-demo","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/orbital-sees-geo-satellite-growth-preparing-for-taurus-2-cots-demo\/","title":{"rendered":"Orbital Sees GEO Satellite Growth; Preparing for Taurus 2 COTS Demo"},"content":{"rendered":"

\n[04-26-11] Orbital Sciences <\/strong>reported a 2011 first quarter revenue increase of 7 percent to $318 million, backed by an earnings-per-share rate of $0.21. This beat market consensus estimates of $0.17, the company announced in its latest financial results issued April 25.
\n    Orbital Sciences CEO David Thompson said that the company\u2019s revenue growth was driven by a $25 million increase in its GEO satellite revenues and $21 million of acquired revenues. Orbital\u2019s organic growth remained flat due primarily to an $18 million headwind from the cancelled Orion Launch Abort System program.
\n    Raymond James <\/strong>Analyst Chris Quilty told Satellite TODAY Insider <\/em>that despite the market\u2019s “tepid” response to the company\u2019s first-quarter performance, Orbital\u2019s results show signs potential of heading into the second half of the year. “I believe the stock can experience a meaningful \u2018leg-up\u2019 if the company is able to pull-off a successful Taurus 2 risk reduction flight in October. The event, itself, is profit neutral regardless of outcome, but a successful flight would set the company on the path toward increased launch revenues, EBITDA margin expansion, and likely multiple expansion,” Quilty said.
\n    Orbital\u2019s Taurus XL program had a modest impact on the company\u2019s first quarter results. Orbital\u2019s margins declined 270 basis points to 3.2 percent due to a loss of an $11.3 million incentive fee payment related to its previous Taurus XL failure and about $1.5 million of accident investigation costs. Offsetting the loss, Orbital booked an $11.3 million insurance settlement below the operating line.
\n    “The inaugural Taurus 2 demonstration flight, now fully funded, slipped by one month to October, and management indicated that cost pressures continue,” said Quilty. “As Orbital moves closer towards a successful Taurus 2 NASA COTS mission in February 2012, we expect the company\u2019s stock value to head toward the midpoint of Orbital\u2019s historical rate.”
\n    Separately, Orbital announced it awarded a $57 million contract to ATK for its Castor 30XL, which will serve as an upgraded second stage motor for Orbital\u2019s Taurus 2 commercial launch vehicle.
\n    Orbital\u2019s Taurus 2 medium-class launch vehicle is slated to perform commercial cargo re-supply missions to the International Space Station for NASA. It will be demonstrated under the COTS program and put into service under the Commercial Resupply Services (CRS) contract.<\/p>\n

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[04-26-11] Orbital Sciences reported a 2011 first quarter revenue increase of 7 percent to $318 million, backed by an earnings-per-share rate of $0.21. This beat market consensus estimates of $0.17, the company announced in its latest financial results issued April 25.     Orbital Sciences CEO David Thompson said that the company\u2019s revenue growth was driven […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-84945","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/84945"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=84945"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/84945\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=84945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=84945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=84945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}