-- Revised Approach Will Maintain Required ISS Cargo Deliveries in 2015 and 2016 --
-- Accelerated Propulsion System Upgrade of Antares to be Implemented at Wallops --
Orbital s Antares launch failure
To maintain the CRS program s critical ISS supply line, Orbital plans an
early introduction of its previously selected Antares propulsion system
upgrade in 2016. This will be preceded by one or two non-Antares
launches of the company s Cygnus
cargo spacecraft to the ISS in 2015-2016, employing the spacecraft s
compatibility with various launch vehicles and its flexibility to
accommodate heavier cargo loads as launcher capacity permits. In
addition, the company expects repairs to the Mid-Atlantic Regional
Spaceport (MARS) launch complex at NASA s Wallops Flight Facility to be
undertaken quickly, allowing launch operations to continue at
Orbital is taking decisive action to fulfill our commitments to
Exact financial impacts to Orbital will depend on which of several specific options for near-term launches is selected, but they are not expected to be material on an annual basis in 2015. In all cases, no significant adverse effects are projected in 2016 or future years, in part because the cost of the Antares propulsion system upgrade was already part of our internal investment plan during that time, he added.
We very much appreciate the tremendous support Orbital has received
from
About Orbital
Orbital develops and manufactures small- and medium-class rockets and
space systems for commercial, military and civil government customers.
The company s primary products are satellites and launch vehicles,
including low-Earth orbit, geosynchronous-Earth orbit and planetary
exploration spacecraft for communications, remote sensing, scientific
and defense missions; human-rated space systems for Earth-orbit, lunar
and other missions; ground- and air-launched rockets that deliver
satellites into orbit; and missile defense systems that are used as
interceptor and target vehicles. Orbital also provides satellite
subsystems and space-related technical services to
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
Certain statements in this press release are "forward-looking
statements" as defined in the Private Securities Litigation Reform Act
of 1995. These forward-looking statements include those related to the
cause and impact of the Antares launch failure, our contingency plans
and estimates of timing for an Antares propulsion upgrade, in addition
to statements regarding our projected financial performance and
forecasts of future events. These statements can be identified by the
fact that they do not relate strictly to historical or current facts.
Forward-looking statements often include the words "forecast," "expect,"
"will," "intend," "plan" and words of similar substance. Such
forward-looking statements are subject to risks and uncertainties that
could cause actual financial results or operating performance to be
materially different from the forward-looking statement. Uncertainty
includes factors such as the cause of the launch failure; the timing of
any future launches; the outcome of any government agency review; the
impact of the launch failure on our relationship with
Source:
Orbital Sciences Corporation
Barron Beneski, 703-406-5000
Public
and Investor Relations
beneski.barron@orbital.com