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ASTROTECH INTERNATIONAL CORPORATION

 PITTSBURGH, Aug. 6 /PRNewswire/ -- S. Kent Rockwell, Chairman and Chief Executive Officer of Astrotech International Corporation (AMEX: AIX) today announced that Astrotech reported net income of $82,000 on revenues of $9.3 million for the third fiscal quarter ended June 30, 1993. This compares with net income of $729,000 on revenues of $12.1 million for the comparable quarter last year.
 For the nine months ended June 30, 1993, Astrotech reported net income of $779,000 on revenues of $28.6 million. This compares with net income of $2.8 million on revenues $39.1 million for the same period of fiscal 1992.
 Mr. Rockwell said that "while the quarter performance was less than expected due to customer postponement of certain projects, backlog has increased monthly for three consecutive months and labor hours are steadily increasing. We anticipate that much of the deferred work will be scheduled for completion in the coming fiscal year. Additionally, our Inspection Services Division and new sales offices are now beginning to contribute to our performance."
 Astrotech's net income per common share, assuming full dilution, was $0.01 and $0.10 per share for the third quarter and nine months ended June 30, 1993, respectively. This compares with net income per common share, assuming full dilution, of $0.09 and $0.33 for the comparable periods of fiscal 1992.
 Astrotech is a leading supplier of proprietary products and services for the inspection, maintenance and repair of large aboveground storage tanks located primarily at petroleum and petrochemical terminals, refineries and pipeline facilities. These services and products enable its customers to comply with increasingly stringent environmental regulations and to improve operating efficiencies.
 Astrotech's Common Stock and Warrants currently trade on the American Stock Exchange under the symbols AIX and AIXws, respectively.
 EARNINGS SUMMARY
 (Unaudited)
 Three Months Ended
 June 30,
 (in thousands,
 except share data) 1993 1992
 Net sales and revenues $ 9,284 $ 12,146
 NET INCOME 82 729
 Preferred stock dividends -- (57)
 Net income applicable to common shares $ 82 $ 672
 Earnings per common share - assuming full dilution:
 Net income $ .01 $ .09
 Weighted average shares outstanding 8,166,802 8,483,602
 Nine Months Ended
 June 30,
 (in thousands,
 except share data) 1993 1992
 Continuing operations:
 Net sales and revenues $ 28,610 $ 39,081
 Income from continuing operations 215 2,398
 Discontinued operations:
 Gain on sale of assets of Astrotech Space
 Operations, Inc. 564 379
 NET INCOME 779 2,777
 Preferred stock dividends -- (190)
 Net income applicable to common shares $ 779 $ 2,587
 Earnings per common share - assuming full dilution:
 Income from continuing operations $ .03 $ .28
 Net income $ .10 $ .33
 Weighted average shares outstanding 8,189,021 8,426,183
 -0- 8/6/93
 /CONTACT: Raymond T. Royko, Vice President and Secretary of Astrotech International, 412-391-1896/
 (AIX)


CO: Astrotech International Corporation ST: Pennsylvania IN: OIL SU: ERN

KC -- PG010 -- 0290 08/06/93 11:32 EDT
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Publication:PR Newswire
Date:Aug 6, 1993
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