Orbital Sciences Awarded $1.1 Billion Contract By US Missile

March 21, 2011

Orbital Sciences Corp. (NYSE:ORB) was awarded a $1.1 billion contract by the U.S. Missile Defense Agency to manufacture intermediate range ballistic missile targets and provide test-mission analysis through 2018.The deal is a firm-fixed-priced contract, which means that the company would have to cover any cost overruns out of pocket.The contract is being provided by Lockheed Martin (NYSE:LMT).