OHB Reports Soaring First-quarter Profit Smooth Sailing on Galileo

摘要

Satellite and rocket hardware builder OHB on May 16 reported a surge in profit on a modest revenue increase for the three months ending March 31, saying its current contract backlog should provide continued high profit for at least the next year. The company said it is sticking with its forecast that revenue will increase by 12 percent in 2012, reaching at least 620 million euros ($806 million). Separately, Bremen, Germany-based OHB said its billion-dollar contract to build 22 Galileo positioning, navigation and timing satellites for the European Union is on track to deliver satellites beginning late this year and has faced no major problems with U.S. technology export regulations.