Astrotech Corporation

Astrotech to Showcase the Tracer 1000 Trace Detector at ISC West Conference

Retrieved on: 
Tuesday, April 2, 2024
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The TRACER 1000 is a high-performance laboratory instrument that is powered by the Astrotech Mass Spectrometer Technology™ (“AMS Technology”).

Key Points: 
  • The TRACER 1000 is a high-performance laboratory instrument that is powered by the Astrotech Mass Spectrometer Technology™ (“AMS Technology”).
  • Currently, the Company’s Tracer 1000 ETD is now found in multiple locations in 14 countries throughout the world.
  • “We are extremely excited to share our user-friendly mass spectrometer the TRACER 1000, which is powered by our AMS Technology, with leading industry experts and security industry professionals at the ISC West conference.
  • The TRACER 1000 is the first mass spectrometry-based ETD to have received European Civil Aviation Conference (“ECAC”) certification for both checkpoint and cargo security.

Astrotech Reports Second Quarter Of Fiscal Year 2024 Financial Results

Retrieved on: 
Monday, February 12, 2024
Acquisition, Astrotech Corporation, ECAC, Traction, Air cargo, Growth, Airport, ASTC, IMS, European, TRACER, ETD, TSA, Salvinia minima, Transport, Research

AUSTIN, Texas, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) reported its financial results for the second quarter of fiscal year 2024, which ended December 31, 2023.

Key Points: 
  • AUSTIN, Texas, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) reported its financial results for the second quarter of fiscal year 2024, which ended December 31, 2023.
  • Year-to-date fiscal year 2024 gross margin increased to 46% from 38% during the comparative period in the prior year, as we continue to benefit from the further refining and ruggedizing of our equipment.
  • After the end of the quarter, 1st Detect reentered detection and non-detection testing with the U.S. Transportation Security Administration (TSA) for cargo security.
  • We exhibited it at this year’s MJ BizCon held late in the second quarter of fiscal year 2024.

Astrotech Reports First Quarter of Fiscal Year 2024 Financial Results

Retrieved on: 
Monday, November 13, 2023
Acquisition, Research, Audit committee, THC, LLP, TRACER, Telecommunications, Air cargo, Salvinia minima, Transportation Security Administration, Cannabis, Explosives trace detector, Astrotech Corporation, Transport, ASTC, European, Letter, TSA, CBD

AUSTIN, Texas, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) reported its financial results for the first quarter of fiscal year 2024, which ended September 30, 2023.

Key Points: 
  • AUSTIN, Texas, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) reported its financial results for the first quarter of fiscal year 2024, which ended September 30, 2023.
  • Gross margin improved to 43% for the first quarter of fiscal year 2024, compared to 16% in the first quarter of the fiscal year 2023.
  • An engagement letter with RBSM was executed on October 12, 2023, for the appointment for the fiscal year ended June 30, 2024.
  • This is a significant improvement in cannabinoid oil processing yields and adds to our potential customer’s bottom line.” stated Thomas B. Pickens, III.

1ST DETECT SECURES SIGNIFICANT PURCHASE ORDER FOR ADDITIONAL CHECKPOINT SECURITY UNITS

Retrieved on: 
Monday, November 13, 2023
TRACER, Mass spectrometry, ETD, ECAC, Astrotech Corporation, ASTC, Conference, European, Certification, European Civil Aviation Conference

AUSTIN, Texas, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Astrotech Corporation (NASDAQ: ASTC) announced today that its 1st Detect subsidiary has accepted another significant purchase order for seven of its TRACER 1000™ explosives trace detectors (ETDs), for an airport security checkpoint.

Key Points: 
  • AUSTIN, Texas, Nov. 13, 2023 (GLOBE NEWSWIRE) -- Astrotech Corporation (NASDAQ: ASTC) announced today that its 1st Detect subsidiary has accepted another significant purchase order for seven of its TRACER 1000™ explosives trace detectors (ETDs), for an airport security checkpoint.
  • “We’re excited to begin Fiscal Year 2024 with increased sales and interest in the TRACER 1000 from the security checkpoint field.
  • The Astrotech Mass Spectrometer Technology™ (AMS Technology) drives the breakthrough TRACER 1000, the first certified ETD to employ mass spectrometry.
  • Due to its high sensitivity and rugged design, the TRACER 1000 is the only mass spectrometry-based ETD to have received European Civil Aviation Conference (ECAC) certification for both checkpoint and cargo security.

LogicMark Expands its Board of Directors by Naming Carine Schneider and Tom Wilkinson as Company’s Innovative Product Pipeline Continues to Grow (Updated with Additional Details)

Retrieved on: 
Tuesday, October 31, 2023
SONM, Astrotech Corporation, IPO, Certified Public Accountant, Morgan Stanley, Life, GEO, History, Nasdaq Private Market, OTC, FGE, PwC, ASTC, Quality of life, University, LGMK, Oracle Corporation, Strategic planning, Zebra Technologies, Democratization, Global Shares, Tower, Safety, Professional Football Compensation Committee, Moses Austin, Audit, Software as a service, Management, Stelletta

Ms. Schneider and Mr. Wilkinson both bring decades of corporate governance, finance, operations, technology, M&A, advisory and CEO experience.

Key Points: 
  • Ms. Schneider and Mr. Wilkinson both bring decades of corporate governance, finance, operations, technology, M&A, advisory and CEO experience.
  • "I am thrilled to welcome Carine and Tom to our Board of Directors.
  • Ms. Schneider started her career as a Manager of Shareholder Relations at Oracle Corporation, where she assisted in the company’s IPO.
  • Ms. Schneider also served on the Board of Directors of Certent, Global Shares, and AST Private Company Solutions.

Astrotech Reports Fiscal Year 2023 Financial Results

Retrieved on: 
Thursday, September 28, 2023
ECAC, Telecommunications, Bank statement, COVID-19, Astrotech Corporation, Research, ASTC, ETD, Acquisition, Collection, Patient, Cannabis, MVP, Federation, OEM, FDA, III, Tobacco

AUSTIN, Texas, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) reported its financial results for the fiscal year ended June 30, 2023.

Key Points: 
  • AUSTIN, Texas, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) reported its financial results for the fiscal year ended June 30, 2023.
  • Our AgLAB subsidiary released results from the ongoing field trials of the AgLAB Maximum Value Process™ solution (AgLAB MVP).
  • “The Company’s gross profit grew in fiscal year 2023 as recurring revenue related to our TRACER 1000 was a larger proportion of our sales.
  • During fiscal year 2023 we continued to develop and enhance our AMS Technology.

ASTROTECH BOARD UNANIMOUSLY REJECTS UNSOLICITED ACQUISITION PROPOSAL FROM BML INVESTMENT PARTNERS, L.P.

Retrieved on: 
Friday, June 30, 2023
Cleveland Clinic, Partnership, Astrotech Corporation, ASTC, History, Sale, BML, Acquisition, Investment, Risk management, Security (finance), Holding company, Proposal, Astrotech

AUSTIN, Texas, June 30, 2023 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) today announced that its Board of Directors (the “Board”) has unanimously rejected the unsolicited acquisition proposal from BML Investment Partners, L.P. (“BML”), received on June 26, 2023, to acquire all of the outstanding shares of common stock of the Company for $17.25 per share in cash (the “Proposal”).

Key Points: 
  • AUSTIN, Texas, June 30, 2023 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) today announced that its Board of Directors (the “Board”) has unanimously rejected the unsolicited acquisition proposal from BML Investment Partners, L.P. (“BML”), received on June 26, 2023, to acquire all of the outstanding shares of common stock of the Company for $17.25 per share in cash (the “Proposal”).
  • Our board has reviewed the BML proposal and believes that it is grossly undervalued,” stated Thomas B. Pickens III, CEO and CTO of Astrotech.
  • The Board believes that the Proposal significantly undervalues the Company and prioritizes the short-term gain of BML at the expense of the Company’s stockholders.
  • The Board believes the Proposal is an opportunistic attempt by BML to purchase the Company’s shares at a discounted price that significantly undervalues the Company’s business.

ASTROTECH CONFIRMS RECEIPT OF UNSOLICTED NON-BINDING ACQUISITION PROPOSAL

Retrieved on: 
Tuesday, June 27, 2023
Astrotech, Astrotech Corporation, BML, ATM, Acquisition, ASTC, Tail, Cryptocurrency, Financial adviser

The non-binding proposal states that BML holds 13% of the Company’s outstanding shares.

Key Points: 
  • The non-binding proposal states that BML holds 13% of the Company’s outstanding shares.
  • Effective June 27, 2023, the Company terminated the ATM Agreement in accordance with its terms.
  • Consistent with its fiduciary duties, the Company’s board of directors will evaluate the non-binding proposal to determine the course of action that it believes is in the best interest of the Company and all Astrotech stockholders and respond appropriately.
  • The Astrotech stockholders do not need to take any action at this time.

Astrotech Reports Third Quarter of Fiscal Year 2023 Financial Results

Retrieved on: 
Thursday, May 11, 2023
Maintenance, Bank statement, COVID-19, Organic compound, Airport, Astrotech Corporation, TRACER, ASTC, ETD, Patient, Cannabis, MVP, III, Cryptocurrency

AUSTIN, Texas, May 11, 2023 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) reported its financial results for its third quarter of fiscal year 2023, which ended March 31, 2023.

Key Points: 
  • AUSTIN, Texas, May 11, 2023 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq: ASTC) (the “Company” or “Astrotech”) reported its financial results for its third quarter of fiscal year 2023, which ended March 31, 2023.
  • The decrease in revenue from the prior fiscal year is primarily the result of the long sales cycle for many of the ETD orders.
  • Year-to-date gross margin increased to 37% from 22%, an increase of 68%, for fiscal year 2023, compared to fiscal year 2022, due to the higher margins provided by recurring maintenance services and consumables sales.
  • Numbers presented in the financial statements presented below have been adjusted to reflect the reverse stock split.

ASTROTECH ANNOUNCES CONFIRMED AGLAB, INC. FIELD TRIAL RESULTS

Retrieved on: 
Tuesday, May 9, 2023
Cannabis, MVP, Astrotech Corporation, THC, Oil, ASTC, Salvinia minima, Medicinal plants, CBD, Astrotech

AUSTIN, Texas, May 09, 2023 (GLOBE NEWSWIRE) -- Astrotech Corporation (NASDAQ: ASTC) (the “Company”), is announcing today that its subsidiary, AgLAB, Inc., confirmed the results from field trials using the AgLAB 1000-D2TM mass spectrometer and the Maximum Value ProcessTM testing method (“AgLAB MVP”).

Key Points: 
  • AUSTIN, Texas, May 09, 2023 (GLOBE NEWSWIRE) -- Astrotech Corporation (NASDAQ: ASTC) (the “Company”), is announcing today that its subsidiary, AgLAB, Inc., confirmed the results from field trials using the AgLAB 1000-D2TM mass spectrometer and the Maximum Value ProcessTM testing method (“AgLAB MVP”).
  • AgLAB MVP is designed to improve yields and bottom-line profits for hemp (CBD) and cannabis (THC) producers of distilled oils.
  • Large scale CBD and THC oil processors use molecular distillation systems (“MDS”) to produce the valuable oils that are used in lotions, pills, tinctures, and cartridges.
  • During our field trials, we were able to improve ending-weight yields by an average of 30%, increasing customer profitability,” stated Thomas B. Pickens III, CEO and CTO of Astrotech.