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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Astrotech Corporation | NASDAQ:ASTC | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.0201 | 0.22% | 9.0701 | 8.80 | 10.40 | 9.20 | 9.00 | 9.00 | 3,773 | 01:00:00 |
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) |
(Former name or former address, if changed since last report.) |
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Astrotech Corporation | |||
By: | /s/ Thomas B. Pickens III |
Name: | Thomas B. Pickens III | ||
Title: | Chairman of the Board and Chief | ||
Executive Officer |
Exhibit No. | Description | Paper (P) or Electronic (E) | ||
99.1 | Press release, dated February 9, 2016 issued by Astrotech Corporation. | E |
• | Revenue was $927 thousand, reflecting 1st Detect’s income from research-based, fixed-price, government-related subcontracts of $685 thousand and from the manufacturing sales of space-grade handrails, a legacy business, of $242 thousand. |
• | Gross profit was $295 thousand, or 32%, which reflects the benefit from the higher margin handrail sales. |
• | Loss from continuing operations before income taxes was $2.6 million, compared to $3.0 million in the second quarter of fiscal year 2015. This decrease is the result of the aforementioned revenue. |
• | Astrotech held $32.2 million in cash, investments, and an indemnity receivable at the quarter close. Management continues to expect to receive the full indemnity receivable of $6.1 million by the end of February 2016, and, as of February 8, was not aware of any claims against this receivable. |
• | Astrotech Corporation had no debt at December 31, 2015. |
• | The Board extended the share repurchase plan of up to $5 million of the Company’s outstanding common stock through December 31, 2016. |
• | 1st Detect received three U.S. patents during the second quarter. The total at January 31, 2016 reached 14 U.S. and nine international issued and 10 U.S. and 16 international pending. |
• | 1st Detect launched its new iONTRAC Process Chemical Analyzer at the Gulf Coast Conference where it contributed five technical programs in October. |
• | Astral Images signed a contract with a worldwide technology leader in the media and entertainment sector to use Astral Color ICE™ as part of its workflow to restore film. |
• | Astrogenetix continued its long-term efforts to use the unique power of microgravity to develop a novel vaccine and therapeutic products, and, in conjunction with NASA, continued the pursuit of an investigational new drug application with the Food and Drug Administration for Salmonella. |
Three Months Ended December 31, | Six Months Ended December 31, | |||||||||||||||
2015 | 2014 | 2015 | 2014 | |||||||||||||
Revenue | $ | 927 | $ | 4 | $ | 927 | $ | 324 | ||||||||
Cost of revenue | 632 | 4 | 632 | 281 | ||||||||||||
Gross profit | 295 | — | 295 | 43 | ||||||||||||
Operating expenses: | ||||||||||||||||
Selling, general and administrative | 1,671 | 2,012 | 3,957 | 3,972 | ||||||||||||
Research and development | 1,326 | 984 | 2,590 | 1,676 | ||||||||||||
Total operating expenses | 2,997 | 2,996 | 6,547 | 5,648 | ||||||||||||
Loss from operations | (2,702 | ) | (2,996 | ) | (6,252 | ) | (5,605 | ) | ||||||||
Interest and other expense, net | 94 | 24 | 193 | 36 | ||||||||||||
Loss from continuing operations before income taxes | (2,608 | ) | (2,972 | ) | (6,059 | ) | (5,569 | ) | ||||||||
Income tax benefit (expense) | — | 734 | (2 | ) | 2,059 | |||||||||||
Loss from continuing operations | (2,608 | ) | (2,238 | ) | (6,061 | ) | (3,510 | ) | ||||||||
Discontinued operations | ||||||||||||||||
Income from discontinued operations | — | — | — | 1,303 | ||||||||||||
Income tax expense | — | (184 | ) | — | (2,562 | ) | ||||||||||
Gain on sale of discontinued operations | — | — | — | 25,630 | ||||||||||||
(Loss) income from discontinued operations | — | (184 | ) | — | 24,371 | |||||||||||
Net (loss) income | (2,608 | ) | (2,422 | ) | (6,061 | ) | 20,861 | |||||||||
Less: Net loss attributable to noncontrolling interest | (82 | ) | — | (171 | ) | — | ||||||||||
Net (loss) income attributable to Astrotech Corporation | (2,526 | ) | (2,422 | ) | (5,890 | ) | 20,861 | |||||||||
Less: Deemed dividend to State of Texas | — | — | — | 531 | ||||||||||||
Net (loss) income attributable to common stockholders | $ | (2,526 | ) | $ | (2,422 | ) | $ | (5,890 | ) | $ | 20,330 | |||||
Amounts attributable to Astrotech Corporation: | ||||||||||||||||
Loss from continuing operations, net of tax | $ | (2,526 | ) | $ | (2,238 | ) | $ | (5,890 | ) | $ | (3,510 | ) | ||||
(Loss) income from discontinued operations, net of tax | — | (184 | ) | — | 24,371 | |||||||||||
Net (loss) income attributable to Astrotech Corporation | $ | (2,526 | ) | $ | (2,422 | ) | $ | (5,890 | ) | $ | 20,861 | |||||
Weighted average common shares outstanding: | ||||||||||||||||
Basic and diluted | 20,701 | 19,637 | 20,703 | 19,593 | ||||||||||||
Basic and diluted net (loss) income per common share: | ||||||||||||||||
Net loss attributable to Astrotech Corporation from continuing operations | $ | (0.12 | ) | $ | (0.11 | ) | $ | (0.28 | ) | $ | (0.20 | ) | ||||
Net (loss) income from discontinued operations | — | (0.01 | ) | — | 1.24 | |||||||||||
Net (loss) income attributable to Astrotech Corporation | $ | (0.12 | ) | $ | (0.12 | ) | $ | (0.28 | ) | $ | 1.04 | |||||
Other comprehensive (loss) income, net of tax: | ||||||||||||||||
Available-for-sale securities: | ||||||||||||||||
Net unrealized loss, net of tax benefit of $40, $0, $73, and $0 | $ | (74 | ) | $ | — | $ | (135 | ) | $ | — | ||||||
Reclassification adjustment for realized losses included in net (loss) income, net of taxes of $2, $0, $5, and $0 | 5 | — | 9 | — | ||||||||||||
Total comprehensive (loss) income | $ | (2,595 | ) | $ | (2,422 | ) | $ | (6,016 | ) | $ | 20,861 |
December 31, 2015 | June 30, 2015 | |||||||
Assets | ||||||||
Current assets | ||||||||
Cash and cash equivalents | $ | 2,145 | $ | 2,330 | ||||
Short-term investments | 18,192 | 23,161 | ||||||
Accounts receivable, net of allowance | 143 | 198 | ||||||
Inventory | 1,232 | 509 | ||||||
Indemnity receivable | 6,100 | 6,100 | ||||||
Prepaid expenses and other current assets | 475 | 296 | ||||||
Total current assets | 28,287 | 32,594 | ||||||
Property and equipment, net | 3,572 | 3,108 | ||||||
Long-term investments | 5,768 | 8,516 | ||||||
Total assets | $ | 37,627 | $ | 44,218 | ||||
Liabilities and stockholders’ equity | ||||||||
Current liabilities | ||||||||
Accounts payable | $ | 409 | $ | 398 | ||||
Accrued liabilities and other | 1,483 | 1,801 | ||||||
Income tax payable | — | 190 | ||||||
Total current liabilities | 1,892 | 2,389 | ||||||
Other liabilities | 130 | 101 | ||||||
Total liabilities | 2,022 | 2,490 | ||||||
Commitments and contingencies | ||||||||
Stockholders’ equity | ||||||||
Preferred stock, no par value, convertible, 2,500,000 shares authorized; no shares issued and outstanding, at December 31, 2015 and June 30, 2015 | — | — | ||||||
Common stock, no par value, 75,000,000 shares authorized; 21,864,548 shares issued at December 31, 2015 and June 30, 2015, respectively; 20,700,673 and 20,743,973 shares outstanding at December 31, 2015 and June 30, 2015, respectively | 189,185 | 189,007 | ||||||
Treasury stock, 1,163,875 and 1,120,575 shares at cost at December 31, 2015 and June 30, 2015, respectively | (2,789 | ) | (2,672 | ) | ||||
Additional paid-in capital | 1,210 | 1,139 | ||||||
Accumulated deficit | (151,912 | ) | (146,022 | ) | ||||
Accumulated other comprehensive loss | (217 | ) | (23 | ) | ||||
Equity attributable to stockholders of Astrotech Corporation | 35,477 | 41,429 | ||||||
Noncontrolling interest | 128 | 299 | ||||||
Total stockholders’ equity | 35,605 | 41,728 | ||||||
Total liabilities and stockholders’ equity | $ | 37,627 | $ | 44,218 |
1 Year Astrotech Chart |
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