Orbital Announces Delay in Filing Fourth Quarter And Year-End 2000 Financial Results

Apr 03, 2001, 01:00 ET from Orbital Sciences Corporation

    DULLES, Va., April 3 /PRNewswire/ -- Orbital Sciences Corporation
 (NYSE:   ORB) announced today that it will delay the filing with the U.S.
 Securities and Exchange Commission (SEC) of its Annual Report on Form 10-K for
 the year ended December 31, 2000. The company expects to file its Annual
 Report with the SEC no later than April 16, 2001, in accordance with SEC rules
 and regulations, and will hold a conference call open to interested parties
 shortly thereafter.
     Management is in the process of completing the 2000 year-end financial
 results which, among other things, is requiring additional time to assess the
 impact on 2000 results, if any, of NASA's March 1, 2001 termination for
 convenience of the X-34 reusable launch vehicle contract.  In addition, the
 company is continuing with its efforts towards finalizing two major
 transactions involving the sale of certain non-core businesses.
 
     Orbital is one of the world's leading manufacturers of low-cost space
 systems, including satellites, launch vehicles, space sensors and satellite
 ground systems. Its Magellan subsidiary offers the industry's broadest line of
 GPS-enabled navigation and positioning products for consumer and industrial
 markets. Orbital is also involved with satellite-based networks that provide
 data communications, high-resolution imagery and automotive information
 services to customers around the world.
 
     More information about Orbital can be found at http://www.orbital.com .
 
     CONTACT:  Investors: Timothy Perrott of Orbital Sciences Corporation,
 703-406-5997, perrott.tim@orbital.com.
 
 

SOURCE Orbital Sciences Corporation
    DULLES, Va., April 3 /PRNewswire/ -- Orbital Sciences Corporation
 (NYSE:   ORB) announced today that it will delay the filing with the U.S.
 Securities and Exchange Commission (SEC) of its Annual Report on Form 10-K for
 the year ended December 31, 2000. The company expects to file its Annual
 Report with the SEC no later than April 16, 2001, in accordance with SEC rules
 and regulations, and will hold a conference call open to interested parties
 shortly thereafter.
     Management is in the process of completing the 2000 year-end financial
 results which, among other things, is requiring additional time to assess the
 impact on 2000 results, if any, of NASA's March 1, 2001 termination for
 convenience of the X-34 reusable launch vehicle contract.  In addition, the
 company is continuing with its efforts towards finalizing two major
 transactions involving the sale of certain non-core businesses.
 
     Orbital is one of the world's leading manufacturers of low-cost space
 systems, including satellites, launch vehicles, space sensors and satellite
 ground systems. Its Magellan subsidiary offers the industry's broadest line of
 GPS-enabled navigation and positioning products for consumer and industrial
 markets. Orbital is also involved with satellite-based networks that provide
 data communications, high-resolution imagery and automotive information
 services to customers around the world.
 
     More information about Orbital can be found at http://www.orbital.com .
 
     CONTACT:  Investors: Timothy Perrott of Orbital Sciences Corporation,
 703-406-5997, perrott.tim@orbital.com.
 
 SOURCE  Orbital Sciences Corporation