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401 Congress, Suite 1650
Austin, TX 78701
FOR IMMEDIATE RELEASE
ASTROTECH REPORTS FOURTH QUARTER AND FISCAL YEAR 2012 FINANCIAL RESULTS
GAAP results: net loss of $1.3 million, or $(0.07) per diluted share for the quarter ended June 30, 2012 and net loss of $2.7 million, or $(0.15) per diluted share, for the year ended June 30, 2012*
EBITDA loss of $0.8 million for the quarter ended June 30, 2012 and $0.6 million for the year ended June 30, 2012*
Astrotech Space Operations (ASO) supported the processing of eight missions during fiscal year ended June 30, 2012
Astrotech works to reduce controllable costs, lowering SG&A by $1.3 million versus fiscal year 2011, allowing for investment in the ASO core business and growth initiatives at Spacetech
1st Detect introduces the MMS-1000™ Miniature Mass Spectrometer and completes its first product sale during fiscal year ended June 30, 2012
*These figures include a one-time $0.7 million reserve against notes receivable included in other expense.
Austin, Texas, September 28, 2012 Astrotech Corporation (NASDAQ: ASTC), a leading provider of commercial aerospace services and products, today announced financial results for its fourth quarter and fiscal year ended June 30, 2012.
We are excited to report solid financial results for our fourth quarter and fiscal year ended June 30, 2012. Our financial performance is tracking to our new growth initiatives and we are excited by the evolving mix of business between our core satellite processing business and new business initiatives within Spacetech, said Carlisle Kirkpatrick, CFO of Astrotech Corporation. Our ASO subsidiary continues to provide the worlds finest satellite processing facilities and services and serves as the corporations financial foundation for future investments in our Spacetech programs. Our 18-month rolling backlog remains strong at $32.3 million and represents a solid mix of both repeat and new business.
"Our long held strategy to fully support our ASO subsidiary by meeting the needs of our customers with state-of-the-art facilities continues to perform as expected. We are also growing ASTC value by investing in our Spacetech initiatives. said Thomas B. Pickens III, Chairman and CEO of Astrotech Corporation. 1st Detect recently introduced its mini-mass spectrometer, the MMS-1000™, and we will continue to expand our product offering by specifically tuning our instrument and directing our sales force towards both established and new markets."
Fourth Quarter Results
The Company posted a fourth quarter fiscal year 2012 net loss of $1.3 million, or $(0.07) per diluted share on revenue of $7.6 million compared with a fourth quarter fiscal year 2011 net loss of $1.8 million, or $(0.10) per diluted share on revenue of $4.5 million.
The following information was filed by Astrotech Corp (ASTC) on Friday, September 28, 2012 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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