UPDATE: Orbital Sciences (ORB) Discusses Rocket Launch Failure on Conference Call

(Updated - October 29, 2014 1:18 PM EDT)

Orbital Sciences (NYSE: ORB) said Antares had a catastrophic failure 15 seconds into flight. It's too earlier to tell how the event will affect future flights, but the company said its 2014 financial views remain unchanged. It also said cost was covered by insurance. A review may nor may not yield changes to its propulsion system.

Update:

Regarding its deal with Alliant Techsystems (NYSE: ATK), Orbital said there was no specific provision on launch failure in the agreement.

There will be some delays for the next Antares Launch. Delays may be three months or longer.

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