SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Orbital science (ORB)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: DYW who wrote (2062)2/17/1999 4:02:00 PM
From: Gerald Walls  Read Replies (1) of 2394
 
Briefing.Com sez:

15:35 ET ******

ORBITAL SCIENCES (ORB) 27 1/4 -2 3/8 Space and information company getting whacked again today, as Morgan Stanley Dean Witter downgraded (see Upgrades/Downgrades) ORB from outperform to neutral. Downgrade came in response to company's much worse than expected Q4 earnings. Due to a number of one-time accounting charges, ORB posted a huge Q4 loss of $0.53, well below year ago gain of $0.18 and consensus forecast of $0.13. Company also restated earnings for the first three quarters of FY98 to reflect consistent application of the accounting changes, resulting in a change from $0.62 to $0.37. Magnitude of loss was the big surprise as ORB had warned two weeks ago that it would meet revenue numbers but post weaker than expected earnings. While additional downgrades and reductions to earnings estimates for FY99 can be expected to keep stock under pressure over near-term, long-term investors will want to keep stock on radar screen. Move to low-20s would provide good (re)entry opportunity for risk-tolerant growth oriented investors as there were a number of positives in company's FY98 results. For one, company recorded record revenues of $734 mln (+21%). Secondly, ORB booked nearly $2.5 bln in new orders during the year. Third, company's total contract backlog (includes options) jumped 42% to $4.1 bln. Finally, balance sheet continues to improve. Briefing.com sees Q4 as little more than a bump in the road.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News