Aerospace and defense contractor Orbital ATK saw a 3 percent dip in second-quarter profit after its munitions production was hampered by a deadly explosion at a Missouri plant in April.
Orbital’s Space Systems unit delivered more than 430 spacecraft components in the quarter, whose other highlights included the testing of an astronaut safety system for NASA. Orbital’s continuing commercial-space activities include International Space Station cargo-shuttle missions for NASA.
Orbital’s quarterly revenue gains prompted executives to suggest the company’s year-end numbers may prove better than previously forecast.
“Based on our strong results in the second quarter and a positive outlook for remainder of the year, we are on track to exceed our initial financial objectives for 2017,” CEO David Thompson said. “The revenue growth that is now being realized stems from exceptional new business performance over the past two years. Operational performance has also been outstanding across all business segments.”