UPDATE 1-Orbital Sciences Q1 results beat Street

April 20 (BestGrowthStock) – Orbital Sciences Corp (ORB.N: ) reported
better-than-expected quarterly results, mainly driven by a 57
percent jump in revenue from its advanced space programs, and
raised its 2010 revenue outlook.

For the first quarter, the company reported net income of
$9.3 million, or 16 cents a share, compared with $9.2 million,
or 16 cents a share, in the year-ago period.

Revenue was almost flat at $296.2 million.

Advanced space programs revenue rose to $107.6 million,
helped by increased activities on the commercial resupply
services contract and national security satellite programs, but
launch vehicles revenue fell 16 percent to $100.3 million.

Analysts on average were expecting earnings of 15 cents a
share, on revenue of $280.2 million, according to Thomson
Reuters I/B/E/S.

For 2010, the company now expects revenue of $1.23 billion
to $1.28 billion. It had previously forecast revenue of $1.18
billion to $1.23 billion. [ID:nASA008JU]

Shares of the company closed at $19.13 Monday on the New
York Stock Exchange.

Stock Market Report

(Reporting by Bijoy Koyitty in Bangalore; Editing by Jarshad
Kakkrakandy)

UPDATE 1-Orbital Sciences Q1 results beat Street