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Technology Stocks : Orbital science (ORB)
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To: Fred Levine who wrote (2156)7/3/1999 12:01:00 AM
From: RP Svoboda   of 2394
 
I'm not sure there ever will be a killer app with sats, but that doesn't mean that ORB is not a great long term investment. Satellites are a niche industry, and ORB is uniquely positioned to capitalize on the "smaller, faster, cheaper" concept.

- Launch: The pegasus is where it's at for low earth orbit sats.

- Comm: The system is incredibly low tech = cheap and reliable communication in areas of the world that do not have the opportunity to build out terrestrial infrastructure. No one ever claimed that they would compete directly with IRID.

- Imagery: Same special business practice mantra that I have stated over and over again on this thread. No one ever claimed that ORB would beat out Space Imaging, but they will be a close second or worst case third.

- Nav: A commodity business that they are trying to reach critical mass in. I think the car nav systems are a great start.

Satellite stocks are no longer in vogue. So what. ORB has a great start in a niche industry. They will be very successful at continuing to generate additional business. They will continue to burn through the backlog which will show up in earnings sooner (hopefully) rather than later. If I am not mistaken, comm wasn't supposed to be profitable until 1999 - image around 2000,2001. Magellan should have been profitable two years ago, but still is not. I don't think that segment is indicative of ORBs ability to grow the business.

Boda
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