Washington | 001-34426 | 91-1273737 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
401 Congress Ave. Suite 1650 Austin, Texas |
78701 |
|
(Address of principal executive offices) | (Zip Code) |
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
99.1 | Press release, dated May 2, 2011, issued by Astrotech Corporation. |
Date: May 2, 2011 | ASTROTECH CORPORATION |
|||
By: | /s/ Thomas B. Pickens, III | |||
Name: | Thomas B. Pickens, III | |||
Title: | Chairman of the Board and Chief Executive Officer |
Paper (P) or | ||||||
Exhibit No. | Description | Electronic (E) | ||||
99.1 | Press release, dated May 2, 2011, issued by Astrotech Corporation.
|
E |
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Astrotech Corporation 401 Congress, Suite 1650 Austin, Texas 512.485.9530 fax: 512.485.9531 www.astrotechcorp.com |
| Astrotech Space Operations (ASO), the Companys core business, supported three
missions which launched in the third quarter 2011; a U.S. government payload, Glory and
X37-B |
||
| GAAP net loss of $0.4 million (attributable to Astrotech Corporation) on revenue of $5.7
million, up 71% and 23%, respectively, compared to the prior quarter |
||
| Astrogenetix flew its eleventh scientific payload in microgravity aboard STS-133 with
research targeted on discovering a vaccine candidate for methicillin-resistant
Staphylococcus aureus (MRSA) |
Three Months | Nine Months | |||||||||||||||
Ended March 31, | Ended March 31, | |||||||||||||||
2011 | 2010 | 2011 | 2010 | |||||||||||||
Revenue |
$ | 5,720 | $ | 6,647 | $ | 15,667 | $ | 22,489 | ||||||||
Cost of revenue |
3,142 | 3,360 | 10,066 | 8,962 | ||||||||||||
Gross profit |
2,578 | 3,287 | 5,601 | 13,527 | ||||||||||||
Operating expenses: |
||||||||||||||||
Selling, general and administrative |
1,941 | 3,170 | 6,367 | 9,515 | ||||||||||||
Research and development |
1,256 | 1,117 | 2,962 | 2,119 | ||||||||||||
Total operating expenses |
3,197 | 4,287 | 9,329 | 11,634 | ||||||||||||
Income (loss) from operations |
(619 | ) | (1,000 | ) | (3,728 | ) | 1,893 | |||||||||
Interest and other expense, net |
(70 | ) | (26 | ) | (208 | ) | (366 | ) | ||||||||
Income (loss) before income taxes |
(689 | ) | (1,026 | ) | (3,936 | ) | 1,527 | |||||||||
Income tax (expense) benefit |
(5 | ) | 53 | (16 | ) | (22 | ) | |||||||||
Net income (loss) |
(694 | ) | (973 | ) | (3,952 | ) | 1,505 | |||||||||
Less: Net loss attributable to noncontrolling interest* |
(248 | ) | (326 | ) | (781 | ) | (326 | ) | ||||||||
Net income (loss) attributable to Astrotech Corporation |
$ | (446 | ) | $ | (647 | ) | $ | (3,171 | ) | $ | 1,831 | |||||
Net income (loss) attributable to Astrotech Corporation
per share, basic |
$ | (0.02 | ) | $ | (0.04 | ) | $ | (0.18 | ) | $ | 0.11 | |||||
Net income (loss) attributable to Astrotech Corporation
per share, diluted |
$ | (0.02 | ) | $ | (0.04 | ) | $ | (0.18 | ) | $ | 0.10 |
* | Noncontrolling interest resulted from grants of restricted stock in 1st
Detect and Astrogenetix to certain employees, officers and directors. Please refer to the March 31,
2011 Form 10-Q filed with the Securities and Exchange Commission for further detail. |
March 31, | June 30, | |||||||
2011 | 2010 | |||||||
Assets |
||||||||
Cash and cash equivalents |
$ | 7,489 | $ | 8,085 | ||||
Accounts receivable, net |
3,018 | 5,676 | ||||||
Prepaid expenses and other current assets |
1,098 | 1,203 | ||||||
Total current assets |
11,605 | 14,964 | ||||||
Property, plant, and equipment, net |
38,867 | 39,920 | ||||||
Other assets, net |
887 | 19 | ||||||
Total assets |
$ | 51,359 | $ | 54,903 | ||||
Liabilities and stockholders equity |
||||||||
Current liabilities |
$ | 4,999 | 12,341 | |||||
Long-term liabilities |
7,041 | 350 | ||||||
Stockholders equity |
39,319 | 42,212 | ||||||
Total liabilities and stockholders equity |
$ | 51,359 | $ | 54,903 | ||||
Three Months | Nine Months | |||||||||||||||
Ended March 31, | Ended March 31, | |||||||||||||||
2011 | 2010 | 2011 | 2010 | |||||||||||||
EBITDA |
$ | (49 | ) | $ | (359 | ) | $ | (2,054 | ) | $ | 3,494 | |||||
Depreciation & amortization |
570 | 535 | 1,674 | 1,601 | ||||||||||||
Interest and other expense, net |
70 | 26 | 208 | 366 | ||||||||||||
Income tax expense |
5 | 53 | 16 | 22 | ||||||||||||
Net income (loss) |
(694 | ) | (973 | ) | (3,952 | ) | 1,505 | |||||||||
Net loss attributable to noncontrolling interest |
(248 | ) | (326 | ) | (781 | ) | (326 | ) | ||||||||
Net income (loss) attributable to Astrotech Corporation |
$ | (446 | ) | $ | (647 | ) | $ | (3,171 | ) | $ | 1,831 | |||||
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