UPDATE 3-Orbital Sciences Q3 profit tops Street view, shares up
*Adjusted EPS of $0.22 beats estimates of $0.20
*Raises full-year outlook
*Shares rise 8 pct
*Sets 2009 EPS of $0.85-$0.92 vs estimates of $1.04 (Adds details, analyst comments, share movement)
By Bhaswati Mukhopadhyay
BANGALORE, Oct 16 (Reuters) - Small rockets and space system maker Orbital Sciences Corp ORB.N posted a better-than-expected quarterly profit, helped mainly by growth in its advanced space programs segment, and it raised its full-year outlook, sending its shares up 8 percent.
The company, whose products include satellites and launch vehicles, however, forecast 2009 earnings below market estimates as it sees its Taurus II launch vehicle development program reducing full-year earnings by 20 cents to 25 cents a share.
Orbital is developing Taurus II, its new commercial launch vehicle, that would compete with smaller launch vehicles of Boeing Co (BA.N: Cotización) and Lockheed Martin (LMT.N: Cotización), JSA Research Inc analyst Paul Nisbet said.
"But it would cost a lot of R&D (research and development) over this year and the next," Nisbet said. Continuación...