Techmediabreaks Astrotech Corp. (NASDAQ: ASTC) Releases Financial Report, Corporate Updates For FY 2024

(MENAFN- Investor Brand Network) Astrotech (NASDAQ: ASTC) , an innovative science and technology company, is reporting on fiscal-year financial results and key company developments for the period ended June 30, 2024. According to the report, highlights for the year include a revenue increase of $1.7 million as 1st Detect, the company's subsidiary, gained traction in the international passenger market with its explosives trace detectors (“ETD”); an increase in gross margin of 45% compared to 41% in the prior period; approval from the U.S. Transportation Security Administration (“TSA”) for the TRACER 1000 for the Air Cargo Security Technology List; the company's entrance into the Developmental Test and Evaluation, which involves the Transportation Security Laboratory (“TSL”) testing the TRACER 1000; and the creation of Pro-Control, a wholly owned subsidiary. In addition, 1st Detect began accepting orders for its proprietary TRACER 1000 Narcotics Trace Detector (“NTD”) from worldwide customers and both the TRACER 1000 NTD and the TRACER 1000 ETD becoming registered with the U.S. General Services Administration (“GSA”) IT Schedule 70, which allows sales to the U.S. federal government.

“Our mission is to expand access to the precision of mass spectrometry for companies in our target markets,” said Astrotech chair, CEO and CTO Thomas B. Pickens, III, in the press release.“We intend to achieve our mission through simplification, customization, automation and configuration to provide relevant real-time solutions.
Our TRACER 1000 has been TSA approved for air cargo and is also on the GSA, and we are currently accepting orders. Both our NTDs and ETDs are being showcased at tradeshows around the U.S. Our gross profit is growing, and we look to increasing revenue in subsequent fiscal years.”

To view the full press release, visit

About Astrotech Corp.

Astrotech
is a mass-spectrometry company that launches, manages and commercializes scalable companies based on its innovative core technology through its wholly owned subsidiaries.
1st Detect
develops, manufactures and sells trace detectors for use in the security and detection market.
AgLAB
develops and sells chemical analyzers for use in the agriculture market.
BreathTech
is developing a breath-analysis tool to screen for volatile organic compounds that could indicate bodily infections and compromised conditions.
Pro-Control
is developing the mass-spectrometry technology for use in chemical manufacturing processes. Astrotech is headquartered in Austin, Texas. For more information, please visit .

NOTE TO INVESTORS:
The latest news and updates relating to ASTC are available in the company's newsroom at

About TechMediaWire

TechMediaWire
(“TMW”) is a specialized communications platform with a focus on pioneering public and private companies driving the future of technology. It is one of 60+ brands within
the
Dynamic Brand Portfolio
@
IBN
that delivers :
(1) access to a vast network of wire solutions via
InvestorWire
to efficiently and effectively reach a myriad of target markets, demographics and diverse industries ;
(2) article and
editorial syndication to 5,000+ outlets ;
(3) enhanced
press release enhancement
to ensure maximum impact ;
(4)
social media distribution
via IBN to millions of social media followers ;
and (5) a full array of tailored
corporate communications solutions . With broad reach and a seasoned team of contributing journalists and writers, TMW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today's market, TMW brings its clients unparalleled recognition and brand awareness. TMW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from TechMediaWire, text“TECH” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit

Please see full terms of use and disclaimers on the TechMediaWire website applicable to all content provided by TMW, wherever published or re-published:
/Disclaimer

TechMediaWire
Los Angeles, CA

310.299.1717 Office
[email protected]

TechMediaWire is powered by
IBN

MENAFN20092024000224011066ID1108697331