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Astrotech Reports Fourth Quarter And Fiscal Year 2012 Financial Results

Stocks in this article: ASTC

  • 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     
  • 1 st 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, Sept. 28, 2012 (GLOBE NEWSWIRE) -- 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 world's finest satellite processing facilities and services and serves as the corporation's 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."

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