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ORBITAL SCIENCES CORPORATION
CONDENSED CONSOLIDATED INCOME STATEMENTS

(Unaudited, In thousands, except share data)

 
                         Quarters Ended March 31,
  2008

2007
Revenues
$  295,964
$  228,222
Costs of revenues
  243,542   188,256
Research and development expenses
8,982 2,850
Selling, general and administrative expenses
    21,885     19,595
Income from operations
21,555
17,521
   
Interest income and other
2,386 3,038
Interest expense
     (1,045)
        (1,148)
Income before income taxes
22,896 19,411
Provision for income taxes
  (9,214)
  (7,959)
Net income
$    13,682 $     11,452
   
Basic net income per share:
$      0.23
$       0.19
   
Diluted net income per share:
$      0.23 $       0.19



See accompanying notes to condensed consolidated financial statements.
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