Virgin Galactic (SPCE) logo is displayed on a screen on the floor of the New York Stock Exchange (NYSE) as the company begins public trading in New York, U.S., October 28, 2019. REUTERS/Brendan McDermid
Billionaire Richard Branson’s Virgin Galactic Holdings Inc (SPCE.N) said on Monday it was evaluating the timing of its next flight test, sending shares down 9.4% in extended trade.
“Following Eve’s last post slide inspection, we tagged a potential wear and tear issue as requiring further evaluation and analysis to see if any additional action is necessary,” said Michael Moses, president of the company’s space missions & safety, on a post earnings conference call.
“We continue to make strides towards our strategic objectives and have solid momentum as we focus on completing our flight test program,” Chief Executive Officer Michael Colglazier said in a statetment.
Virgin Galactic, which delayed its quarterly results by about a week, said total future astronauts remained at about 600, as of March 31.
It also posted a first-quarter loss of $130 million, compared to a $377 million net loss last year.
Our Standards: The Thomson Reuters Trust Principles.
Amazon secured a key early win as a federal judge blocked New York from enforcing…
The Enthuse Foundation has revealed the finalists for its 7th Annual Women Founders Pitch Competition,…
The Marcus Evans 2nd Edition Model Risk Management, Canada conference taking place in Toronto, Canada…
Economists say Shanghai is strengthening its role as China’s reform engine, accelerating innovation and global…
U.S. shoppers are set to spend nearly $80 billion this Black Friday and Cyber Monday,…
Waiken has unveiled a US$450 million investment plan through 2031 to strengthen its entertainment and…