Explosives detector maker Astrotech's FY revenue declines, net loss widens
ASTC•Astrotech reported fiscal-year revenue of $913,000 and a net loss of $14.43 million, which widened from the prior year. Operating expenses fell 6% to $14.36 million.
1. Fiscal-year results
Astrotech said fiscal-year results reflected investment in new products, including its Labrador handheld gas chromatograph and TRACER 1000 deployment. Gross profit was $217,000, and loss per share was $8.49.
2. Lunar initiative
The company launched a lunar infrastructure initiative through a new subsidiary to evaluate and potentially develop technologies for resource and computing development. Astrotech said it is focused on converting pipeline opportunities into revenue growth in the new year.
