astrotech corp (ASTC) Key Developments
Astrotech Corp., Annual General Meeting, Jun 30, 2015
May 19 15
Astrotech Corp., Annual General Meeting, Jun 30, 2015., at 09:00 Central Standard Time. Location: 555 Forge River Road, Suite 100. Agenda: To elect eight directors to the company's Board of Directors; to ratify the appointment of BDO USA, LLP as independent registered public accounting firm for the 2015 fiscal year; and to transact such other business as may properly come before the meeting and any related adjournments or postponements.
Astrotech Corp. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 31, 2015
May 11 15
Astrotech Corp. announced unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2015. The Company posted third quarter fiscal year 2015 net loss of $2.1 million, or $0.11 per diluted share, compared with a third quarter fiscal year 2014 net loss of $2.8 million or $0.14 per diluted share. Net loss attributable to Astrotech Corporation was $2.100 million compared to $2.837 million for the same period last year. For the quarter, the company reported loss from operations of $2.3285 million against loss from operations of $2.029 million a year ago. Loss from continuing operations was $1.358 million against $2.389 million a year ago. Loss from continuing operations before income taxes was $2.252 million compared to $2.029 million a year ago. LBITDA was $2.160 million against LBITDA $2.414 million a year ago.
The company posted year to date fiscal year 2015 net income of $18.8 million, or $0.93 per diluted share, which was primarily the result of a $25.6 million gain ($23.7 million after-tax) related to the sale of former ASO business to Lockheed Martin, compared with a third quarter year to date fiscal year 2014 net loss of $4.1 million or $0.22 per diluted share. The company reported loss from operations of $7.933 million against $6.677 million a year ago. Loss from continuing operations before income taxes was $7.821 million against $6.668 million a year ago. Loss from continuing operations was $4.868 million against $5.297 million a year ago. Net loss attributable to Astrotech Corporation was $18.761 million compared to $4.140 million for the same period last year. EBITDA was $19.724 million against LBITDA of $2.881 million a year ago.
Astrotech Corp. Announces Board Appointments
May 8 15
On May 4, 2015, the board of directors of Astrotech Corporation increased the size of the Board from six directors to eight directors. On the same date and upon the recommendation of the Governance and Nominating Committee, the Board appointed Michael R. Humphrey and Ronald W. Cantwell to serve as directors. Mr. Humphrey has served as Executive Vice President of Education 2020 since August 2011. He previously served as President and CEO of Education 2020 from January 2009 until August 2011. Prior to joining Education 2020, Mr. Humphrey was President and Founder of Human Performance Labs, LLC from August 2007 until December 2008. Mr. Humphrey is a graduate of Texas Tech University. Mr. Cantwell is President of VC Holdings Inc., through which Mr. Cantwell provides advisory services in corporate and project investment structuring, mergers and acquisitions, financial restructuring and operations management. In addition, Mr. Cantwell has served as Chairman and Chief Executive Officer of Catalyst Group Inc., which was traded on the NYSE before it was acquired and taken private in 1988 by Brookfield Asset Management. Prior to joining Catalyst Group Inc., Mr. Cantwell spent nineteen years in public accounting, most recently as a Tax Partner in the Ernst & Young LLP Dallas office.
Astrotech Corp. Presents at 16th Annual B. Riley & Co. Investor Conference, May-12-2015 09:30 AM
Apr 9 15
Astrotech Corp. Presents at 16th Annual B. Riley & Co. Investor Conference, May-12-2015 09:30 AM. Venue: Loews Hollywood Hotel, Los Angeles, California, United States. Speakers: Eric N. Stober, Chief Financial Officer, Treasurer and Secretary, Thomas Boone Pickens, Chairman and Chief Executive Officer.
Astrotech Corporation Announces Auditor Changes
Apr 7 15
The Audit Committee of the Board of Directors of Astrotech Corporation completed a competitive process to determine the company’s independent registered public accounting firm for the fiscal year ending June 30, 2015. As a result of that process, on April 1, 2015, the Committee notified Ernst & Young LLP that it had determined to dismiss E&Y as the company’s independent registered public accounting firm, effective as of that same date. On and effective as of that same date, the company appointed BDO USA, LLP as the company’s independent registered public accounting firm for the fiscal year ending June 30, 2015 and BDO will immediately conduct a review of the company’s unaudited financial statements for the quarter ended March 31, 2015. The appointment of BDO as the company’s independent registered public accountant was approved by the Committee.