Orbital Sciences 1Q profit holds steady as revenue edges higher

Orbital Sciences 1Q profit holds steady

DULLES, Va. — Orbital Sciences Corp., a company that makes rockets and other space technology, said Tuesday its first-quarter net income was roughly flat from the year before

Revenue edged up just slightly as an uptick in income from a NASA supply contract was offset by less activity in missile defense programs and other businesses.

The company said it earned $9.3 million, compared with $9.2 million in the same quarter a year ago. On a per-share basis, both quarters came out to 16 cents. Revenue was up to $296.2 million from $295.7 million.

Analysts surveyed by Thomson Reuters expected 15 cents per share and revenue of $280.2 million, on average.

Orbital’s stock rose 6 cents to $19.19in afternoon trading.