Orbital Sciences lowers full-year earnings guidance below analysts’ expectations

Orbital Sciences cuts full-year earnings outlook

DULLES, Va. — Orbital Sciences Corp., which makes satellites, rockets and other space technology, on Thursday lowered its full-year guidance.

The company said it expects to earn 65 cents to 70 cents per share for the full year, down from a prior outlook of 70 cents to 80 cents per share. Analysts polled by Thomson Reuters project income of 78 cents per share.

Orbital said it expects revenue of $1.25 billion to $1.28 billion for the year. Analysts forecast revenue of $1.26 billion.

Shares of Orbital Sciences dropped 72 cents, or 4.6 percent, to $14.90 in afternoon trading. The stock has ranged from $12.19 to $19.63 over the past year.