...the third quarter of 2012. Third quarter 2012 revenues were $372.9 million, up 9 percent compared to $342.2 million in the third quarter of 2011. Third quarter 2012 operating income was $31.3 million, an increase of 27 percent compared to $24.7 million in the third quarter of 2011.
Net income was $19.5 million, or $0.33 diluted earnings per share, in the third quarter of 2012, compared to net income of $16.5 million, or $0.28 diluted earnings per share, in the third quarter of 2011. Orbital’s free cash flow in the third quarter of 2012 was negative $20.8 million compared to positive $16.3 million in the third quarter of 2011.
Mr. David W. Thompson, Orbital’s Chairman and Chief Executive Officer, said, “The company’s third quarter 2012 financial results set new records for revenues and operating income for a second consecutive quarter. This quarter’s financial results reflected strong growth in revenues, particularly for the launch vehicles segment, which grew by more than 20 percent, as well as increased operating income in all three business segments. During the quarter Orbital successfully carried out two launch vehicle and satellite missions and delivered another eight systems to customers for future missions. The company also completed several important milestones in the Antares rocket and Cygnus spacecraft programs, including the commencement of initial Antares operations at the Mid-Atlantic Regional Spaceport at Wallops Island, Virginia."
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