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Orbital Sciences Posts Record Sales But Lowers Guidance On Uncertainty

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Orbital Sciences Corp. [ORB] yesterday reported lower net income in its fourth quarter despite record sales but lowered its sales and earnings guidance for 2013 due to an uncertain federal spending outlook given the looming budget sequester as well as timing of awards. Net income tumbled 20 percent to $13.9 million, 23 cents earnings per share (EPS), from $17.4 million (29 cents EPS) a year ago, as results were impacted by more than $10 million in pre-tax debt retirement charges.…

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