(from www.sec.gov)
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Orbital Sciences Corp. |
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From the April 28, 1997 Washington Post
| '96 (in $ 000s) | % Change From '95 | |
| Revenue | 461,435 | 26.7 |
| Net Income | 15,907 | -- |
Description:
Orbital Sciences Corp. designs and builds small rockets and satellites, as well as components for other space systems. The company also makes hand-held receivers that fix one's position on the globe to within a few yards. It plans to launch a network of satellites to handle paging and data communications for global customers. It also is seeking to launch a satellite to take images of Earth for commercial and government clients.
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Last year the company enjoyed a boom in sales of most of its rocket, satellite and space electronics products, but suffered a late-year setback that raised new questions about its key Pegasus rocket program.
Revenue was up 27 percent from the year before. Among other reasons, the firm had a surge of work in its businesses of building and launching rockets such as the Pegasus and Taurus, making sensors and ground systems, and manufacturing Magellan hand-held receivers that determine one's position using satellite data. Its Pegasus rocket business did well early in the year because the company successfully launched four Pegasuses—a turnaround from two failed launches in 1994 and 1995. Just when the company thought it had its problems licked, another Pegasus failed at launch on Nov. 4.
The setback at times diverted attention from Orbital Sciences' other projects—such as its progress in building equipment and arranging financing for its planned Orbcomm network of satellites. It will provide data communications for customers such as oil companies and railroads that want periodic electronic confirmation that their pipelines and railcars are working.
