Reuters: Regulatory News: Orbital Sciences says no restatements after SEC review

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Orbital Sciences says no restatements after SEC review Jun 14th 2012, 13:48 June 14 | Thu Jun 14, 2012 9:48am EDT June 14 (Reuters) - Aerospace company Orbital Sciences Corp said it will not restate its 2010 and third-quarter 2011 financial reports after the completion of discussions with the U.S. Securities and Exchange Commission over its revenue recognition practices. The SEC had asked for information on certain accounting policies and disclosures related to the revenue recognition of a contract awarded by NASA. Orbital Sciences makes rockets and space systems for commercial, military and civil government customers, including the U.S. Department of Defense. Shares of the company were slightly down at $11.96 in early trading on Thursday on the New York Stock Exchange.

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