DULLES, Va., Jan. 11 /PRNewswire/ -- Orbital Sciences Corporation (NYSE: ORB) announced today that it was selected for approximately $1.2 billion in new contracts for its space and ground infrastructure systems last year. The company received orders totaling about $300 million for its satellites and related space systems and about $500 million for its launch vehicles. In addition, the company reported new contracts valued at nearly $250 million for its electronics and sensors and in excess of $150 million for its ground systems. Approximately $500 million of 2000's new orders were in the form of definitized firm contracts, while $700 million were option or indefinite-quantity orders and undefinitized contract awards at year end.
"For the fifth consecutive year, Orbital was selected by customers for more than $1 billion worth of new contracts," said Mr. David W. Thompson, Chairman and Chief Executive Officer. "Since 1996, the company's cumulative new firm and option order bookings have exceeded $7 billion in total value, with over $4 billion still in our total contract backlog for future deliveries during the next several years," he added.
Orbital is one of the world's leading manufacturers of low-cost space systems, including satellites, launch vehicles, electronics and sensors, satellite ground systems and related digital infrastructure. Its Magellan subsidiary is a pioneer in satellite-based navigation and communications products for consumer and industrial markets. Through its ORBCOMM and ORBIMAGE affiliates and ORBNAV subsidiary, Orbital is also a major operator of satellite-based networks that provide data communications, high-resolution imagery and automotive information services to customers all around the world. More information about Orbital can be found at http://www.orbital.com. SOURCE Orbital Sciences Corporation
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