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Astrotech Corp. Message Board

  • marsavian marsavian Jul 16, 2010 7:44 AM Flag

    Astrotech Corporation Announces Corporate Realignment - Astrotech Corporation President Terminated

    AUSTIN, Texas, July 16, 2010 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq:ASTC - News), a leading provider of commercial aerospace services and in the commercialization of space technologies, today announced a realignment of its corporate structure in order to optimize operational efficiencies. The Company's action follows an evaluation of each business and a review of strategic alternatives. Astrotech's corporate realignment includes the termination of James Royston, President of Astrotech Corporation.

    "This corporate leadership realignment allows us to streamline Astrotech, reduce overall costs and maximize shareholder value," said Thomas B. Pickens III, Chairman and Chief Executive Officer of Astrotech.

    The corporate realignment will allow Astrotech to put a greater focus on the pre-launch satellite service offering of its Astrotech Space Operations business unit. The Company has no immediate plans of filling the position created by Mr. Royston's termination.


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    • Well the stock currently has a future $18m loss baked into the pps based on one rogue million dollar losing last quarter which can be explained by unusually higher than normal R&D and Consultancy (Lazard ?) fees so I would say it was cheap too ! ;-)

    • Secondo Senior executive fired in a very short period of time.
      I am rather concerned. Moreover, there is no sensible explanation provided.
      I now fear that the earnings for Q2 2010 might be pretty bad.

      • 1 Reply to paola.piccinini
      • That's about 400-500K saved in salary as well as future dilutive options, no small beer. I thought the explanation was good and the emphasis being placed back on the profit making core business ASO encouraging. They are listening.

        As to Q2, seriously there has been too much emphasis been put on one quarter's earnings and even if Q2 is the same it would not indicate a long term trend. You only have to look at the future manifest to see upcoming quarterly missions go back up from 2 to 3 which will put us back in profit for sure.

        There is no real mystery to this company's future earnings, only about a +/- $1.5-2.0m margin of error (once you know the mission number) due to standing payments and variable R&D cost.

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