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.
FIA President Mohammed Ben Sulayem hails new agreement as a vital step forward for racing…
Indonesia’s rapidly expanding investor community is creating a new opportunity for financial technology companies: connecting…
Nevada’s emergence as a life sciences destination is gaining momentum, and Roseman Bioventures is positioning…
Hyperion Materials & Technologies is working with CADDi to centralise engineering data and accelerate quotation…
Launching a business in Ontario is an exciting but strategic endeavour that begins with a…
The next stage of premium consumer electronics is increasingly about ecosystems rather than individual devices.…