[SatNews] Orbital Sciences Corporation (NYSE: ORB) today reported its financial results for the third quarter of 2011.

Third quarter 2011 revenues were $342.2 million, up 9 percent compared to $314.5 million in the third quarter of 2010. Third quarter 2011 operating income was $24.7 million, compared to $19.4 million in the third quarter of 2010. Net income was $16.5 million, or $0.28 diluted earnings per share, in the third quarter of 2011, compared to net income of $10.6 million, or $0.18 diluted earnings per share, in the third quarter of 2010. Orbital’s free cash flow* in the third quarter of 2011 was $16.3 million compared to $28.9 million in the third quarter of 2010.

Mr. David W. Thompson, Orbital’s Chairman and Chief Executive Officer, said, “The company’s third quarter 2011 revenues reflected strong growth in all business segments. Operating income increased 27 percent, boosted by substantial profit improvement in our satellites and space systems segment. With higher operating margins and lower tax rates, Orbital reported a 56 percent increase in net income and earnings per share as well. In addition, we successfully completed a number of operational activities during the quarter, including seven major rocket launches and space system deployments and four additional system deliveries.”

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