Orbital Sciences Corporation shares rose in the wake of NASA’s decision to award the Dulles, Virginia-based company a $170 million contract under its COTS program.
One analyst has predicted the contract could boost company income by 25 percent, potentially boosting earnings per share by about $6.
The COTS program is designed to encourage the development of commercial cargo and crew delivery vehicles for the International Space Station. Orbital plans to develop its Taurus II rocket, which would be launched from Wallops Island, Virginia. Orbital Sciences joins SpaceX of El Segundo, California in the COTS competition.