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Business/Financial

Earnings Up, Sales Down At Orbital In Second Quarter

By Cal Biesecker

Thursday, July 17th, 2014

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Earnings Up, Sales Down At Orbital In Second Quarter

Orbital Sciences' Antares rocket launches July 13 for the company's Orb-2 Cargo Resupply Services (CRS) mission for NASA. Photo: Orbital.

Orbital Sciences [ORB] on Thursday posted a slight rise in net income in the second quarter despite a modest decline in sales as an insurance recovery related to a an anomaly with one of its communications satellites that was launched in March helped boost results. Net income was up a percent to $16.5 million, 27 cents earnings per share (EPS), from $16.3 million (27 cents EPS) a year ago. The quarter’s results were hindered by a $4.2 million after-tax expense…

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