Orbital Sciences Corporation (NYSE: ORB) reported its financial results for the fourth quarter and full year 2009. Fourth quarter 2009 revenues were $282.3 million, compared to $305.2 million in the fourth quarter of 2008. Fourth quarter 2009 operating income was $14.7 million, compared to $16.8 million in the fourth quarter of 2008. Net income was $9.3 million, or $0.16 diluted earnings per share, in the fourth quarter of 2009, compared to net income of $9.0 million, or $0.15 diluted earnings per share, in the fourth quarter of 2008. Orbital generated $8.3 million of free cash flow in the fourth quarter of 2009 compared to free cash flow of $14.1 million in the fourth quarter of 2008.

Full year 2009 revenues were $1,125.3 million, compared to $1,168.6 million in 2008. Operating income was $52.3 million in 2009, compared to $84.3 million in 2008. Net income was $36.6 million, or $0.63 diluted earnings per share in 2009, compared to income from continuing operations of $42.6 million, or $0.70 per diluted share in 2008. Orbital generated $58.7 million of free cash flow in 2009, compared to $82.3 million in 2008. To read the entire financial report, access this direct link.