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Orbital Announces Additional Details Concerning CRS Program and Antares Launcher Go-Forward PlansOrbital Sciences Corporation (NYSE: ORB), one of the world's leading space technology companies, today announced new details in its plans to resume cargo flights to the International Space Station (ISS) and to accelerate the introduction of an upgraded Antares launch vehicle. In formulating its go-forward plans, the company's primary objective is to fulfill its commitment to NASA for ISS cargo deliveries with high levels of safety and reliability and minimum disruption to schedules. As previously announced, these plans are expected to allow Orbital to accomplish all remaining cargo deliveries under its current Commercial Resupply Services (CRS) contract with NASA by the end of 2016 and with no cost increase to the space agency. The company's go-forward plans for the CRS program and Antares launch vehicle include these major elements:
About Orbital Orbital develops and manufactures small- and medium-class rockets and space systems for commercial, military and civil government customers. The company's primary products are satellites and launch vehicles, including low-Earth orbit, geosynchronous-Earth orbit and planetary exploration spacecraft for communications, remote sensing, scientific and defense missions; human-rated space systems for Earth-orbit, lunar and other missions; ground- and air-launched rockets that deliver satellites into orbit; and missile defense systems that are used as interceptor and target vehicles. Orbital also provides research rocket and satellite subsystems and space-related technical services to U.S. Government agencies and laboratories. More information about Orbital can be found at http://www.orbital.com. Follow the company on Twitter (News - Alert) @OrbitalSciences. "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 Certain statements in this press release are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include those related to our go-forward plans for the CRS program and the Antares launch vehicle. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often include the words "forecast," "expect," "will," "intend," "plan," "to" and words of similar substance. Such forward-looking statements are subject to risks and uncertainties that could cause actual financial results or operating performance to be materially different from the forward-looking statement. These risks and uncertainties include factors such as the timing of any future launches; the accounting, financial or commercial impact of the launch failure; the availability of insurance; changes in revenue and cost estimates and/or timing of programs; the potential termination of U.S. Government contracts; unstable geopolitical conditions; supply, modification and testing of components in a timely manner; the performance of our subcontractors, suppliers and other third parties; and the availability of and potential delays in funding or disputes associated with repairs. Additional information concerning these and other factors can be found in Orbital's filings with the Securities and Exchange Commission. Orbital assumes no obligation to update or revise publicly the information in this press release except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements.
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