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Income, Sales Fall At Orbital Sciences In First Quarter

Cal Biesecker By
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Income, Sales Fall At Orbital Sciences In First Quarter
Amazonas 4A satellite in Orbital's manufacturing facilities ahead of last months launch. Photo: Orbital Sciences

A problem with a communications satellite built for Spain’s HISPASAT S.A. and inserted into orbit last month led Orbital Sciences Corp. [ORB] on Thursday to report lower net income and sales in its first quarter, although the company largely left intact its guidance for the year. Orbital said it discovered an anomaly on the Amazonas 4A communications satellite during in-orbit testing. The satellite was launched aboard an Ariane 5 rocket by France’s Arianespace on March 22. Orbital said the testing…

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