Exhibit 99.1

(ASTROTECH CORPORATION LOGO)   Astrotech Corporation
401 Congress, Suite 1650
Austin, Texas
512.485.9530
fax: 512.485.9531
www.astrotechcorp.com
FOR IMMEDIATE RELEASE
ASTROTECH REPORTS RESULTS FOR FOURTH QUARTER AND FISCAL YEAR 2010
   
Astrotech Space Operations (“ASO”), the Company’s core business, supported three missions which launched in the fourth quarter 2010, notably RSC-Energia’s Mini Research Module 1 (“MRM-1”) which launched on STS-132 and the Air Force’s X-37B OTV
 
   
Positive GAAP earnings for the second consecutive fiscal year
 
   
GAAP cash flow of $3.4 million the year ended June 30, 2010 resulting in $8.1 million in cash and cash equivalents at June 30, 2010
 
   
EBITDA of $3.3 million for the year ended June 30, 2010
Austin, Texas, August 30, 2010 — Astrotech Corporation (NASDAQ: ASTC), a leading provider of commercial space services, today announced financial results for its fourth quarter and fiscal year ended June 30, 2010.
“Astrotech has completed another strong year, supporting our customers on twelve missions at our facilities near Cape Canaveral and on Vandenberg Air Force Base,” said Thomas B. Pickens III, Chairman and CEO of Astrotech. “Additionally, we progressed steadily in the development of 1st Detect’s Miniature Chemical Detector, while furthering our experience processing experiments in space utilizing the Astrogenetix Microgravity Processing Platform (“AMPP”). I am pleased that the Company begins fiscal year 2011 in solid financial position, with more than $8 million in cash on hand.”
Fourth Quarter Results
The Company posted a fourth quarter fiscal year 2010 net loss of $1.6 million, or $(0.10) per diluted share on revenue of $5.5 million compared with a fourth quarter fiscal year 2009 net income of $2.6 million, or $0.15 per diluted share on revenue of $10.4 million.
Fiscal Year Results
Astrotech’s net income for the fiscal year ended June 30, 2010 was $0.3 million, or $0.01 per diluted share on revenue of $28.0 million compared to net income of $4.7 million, or $0.28 per diluted share on revenue of $32.0 million for the prior fiscal year.
Update of Ongoing Operations
The Company’s 18-month rolling backlog, which includes contractual backlog and scheduled but uncommitted missions, was $24.9 million at June 30, 2010. The majority of the backlog is for ASO pre-launch satellite processing services, which include hardware launch preparation; advanced planning; use of unique satellite preparation facilities; and spacecraft checkout, encapsulation, fueling, transport, and command and control through launch.

 

 


The following information was filed by Astrotech Corp (ASTC) on Monday, August 30, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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