This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Astrotech Reports First Quarter 2011 Financial Results

  • Astrotech Space Operations ("ASO"), the Company's core business, supported two Air Force missions which launched in the first quarter 2011, AEHF-1 and SBSS
  • 1 st Detect received a Small Business Innovation Research (SBIR) Phase II contract for $735,000 from the Joint Science and Technology Office for Chemical and Biological Defense
  • GAAP cash flow of $1.6 million the quarter ended September 30, 2010 resulting in $9.7 million in cash and cash equivalents at September 30, 2010

AUSTIN, Texas, Nov. 5, 2010 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq:ASTC), a leading provider of commercial aerospace services, today announced financial results for its fiscal year 2011 first quarter ended September 30, 2010.

"Over the last six months we have worked to improve our competitive position through cost cutting measures, debt restructuring and increasing our cash on hand," said Thomas B. Pickens III, Chairman and Chief Executive Officer of Astrotech. "As a service provider to the U.S. Government, we value the benefits of a solid customer base, both operationally and financially. Our reliance on the launch schedule of our customers causes ASO to experience variability quarterly and from year to year in our financial results. As we begin fiscal 2011, we are entering a period where we expect less launch activity than in previous years and where we no longer have the benefit of revenue from the construction of the facility at Vandenberg Air Force Base. In an effort to keep Astrotech in a strong financial position we are reducing costs and working diligently to increase future business prospects."

First Quarter Results

The Company posted a first quarter fiscal year 2011 net loss of $1.2 million, or $(0.07) per diluted share on revenue of $5.3 million compared with a first quarter fiscal year 2010 net income of $0.8 million, or $0.04 per diluted share on revenue of $7.8 million.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs