Terran Orbital rises after Q4 revenue nearly triples
21/03/2023 11:14
** Shares of satellite manufacturer Terran Orbital Corp
LLAP.N rise 19.7% at $2.06 premarket
** Co reports Q4 revenue nearly tripled at $31.9 million,
compared to $10.7 million last year
** Says increase in revenue due to continued support of the
Space Development Agency’s Transport Layer and completion and
delivery of 10 satellites to Lockheed Martin for the Tranche 0
program
** Posts smaller net loss of $33.0 million in Q4 vs net loss
of $40.3 million last year
** LLAP was recently awarded a $2.4 billion constellation
order from Rivada Space Networks for which co expects it will
commence development work in 2023
** Shares up ~9.5% this year
(Reporting by Ashwini Raj in Bengaluru)
((Ashwini.Raj@thomsonreuters.com))
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