Astrotech Secures Navy Contract
AUSTIN, Texas, Jan. 7, 2011 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq:ASTC), a leading provider of commercial aerospace services, today announced that the Department of the Navy's Space and Naval Warfare Systems Command (SPAWAR) awarded its Astrotech Space Operations business unit a new contract for payload processing services in support of the Mobile User Objective System (MUOS) Program.
"Astrotech is proud to support the Navy in processing the MUOS satellites for launch," stated Astrotech Chairman and Chief Executive Officer, Thomas B. Pickens III. "This array of satellites will significantly improve communications for U.S. forces, and Astrotech is honored to play a small role by providing our capabilities and processing facilities for these missions."
Astrotech Space Operations has committed to provide payload processing support for up to five satellite launches for MUOS under the contract. The Navy has informed Astrotech that it will utilize Astrotech's processing services for the initial launch. The Navy has the right to exercise options to have Astrotech support up to four additional launches in support of MUOS. The contract stipulates that the contract services are targeted to begin in fiscal year 2012, and would potentially run through 2015.From Titusville, Florida, Vandenberg Air Force Base, California and the Sea Launch Home Port facilities in Long Beach, California, Astrotech Space Operations provides all support necessary for government and commercial customers to successfully process their satellite hardware for launch, including advance planning; use of unique facilities; and spacecraft checkout, encapsulation, fueling, and transport. In its 29 year history, Astrotech has supported the processing of more than 285 spacecraft without impacting a customer's launch schedule. About Astrotech Corporation Astrotech Corporation (Nasdaq:ASTC) is a commercial aerospace company that provides spacecraft payload processing and government services, designs and manufactures space hardware, and commercializes space technologies for use on Earth. The Company serves our government and commercial satellite and spacecraft customers with our pre-launch services from our Astrotech Space Operations (ASO) subsidiary and incubates space technology businesses now focusing on two companies: 1 st Detect Corporation, which is developing a mini-mass spectrometer first developed for the International Space Station; and Astrogenetix, Inc., which is developing biotech products in space and has recently developed a vaccine candidate for Salmonella. The Astrotech Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7456 The statements in this document may contain forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, continued government support and funding for key space programs, product performance and market acceptance of products and services, as well as other risk factors and business considerations described in the company's Securities & Exchange Commission filings including the annual report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. The Company assumes no obligation to update these forward-looking statements.
CONTACT: Scott Haywood Corporate Marketing and Communications Astrotech Corporation 512-485-9530 email@example.com
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