ASTROTECH APPOINTS CARLISLE KIRKPATRICK AS CHIEF FINANCIAL OFFICER

Austin, TX (August 9, 2012) - 

Astrotech Corporation (Nasdaq:ASTC) today announced that it has appointed Carlisle "Kirk" Kirkpatrick as Chief Financial Officer ("CFO") of the Company. Mr. Kirkpatrick's appointment is effective as of August 9, 2012 and follows the departure of John Porter as the Company's Chief Financial Officer.

 

"The Board and I are delighted to welcome Mr. Kirkpatrick to Astrotech Corporation," stated Thomas B. Pickens III, Chairman and Chief Executive Officer of Astrotech Corporation. "The Company and its shareholders are fortunate to have someone of his caliber join our executive leadership. Kirk has significant expertise as a senior financial executive and he brings the right skill set to the team."

 

From November 2010 to July 2012, Mr. Kirkpatrick served as a Managing Director of IncuHive, LLC, a business incubator focused on developing early and middle stage companies in the mobile commerce and risk solutions space. From November 2006 to November 2010, Mr. Kirkpatrick served as Executive Vice President and Chief Financial Officer of Authentium, Inc. In that capacity, Mr. Kirkpatrick was responsible for all aspects of the company's financial matters, including financial reporting and accounting, cash management and financing. From January 2001 to November 2006, Mr. Kirkpatrick served as Vice President, Corporate Development with Seisint, later acquired by LexisNexis Risk Solutions (a division of Reed Elsevier), and was responsible for the company's middle market M&A activities and FP&A group. From July 1998 to January 2001, Mr. Kirkpatrick served as a Managing Principal and a founding member of Accenture's venture capital group, which managed $500 million in partner capital and invested in over 100 high-tech companies worldwide.

 

"I am very pleased to join Astrotech Corporation as its CFO," said Mr. Kirkpatrick. "The Company has some tremendous opportunities and I will strive to maximize the value that is being created. The Company is poised for growth and I look forward to being part of the team."

 

Mr. Kirkpatrick's appointment follows John Porter`s separation from Astrotech Corporation, which was effective on August 3, 2012. Speaking on behalf of the Board of Directors, Chairman Thomas B. Pickens III said, "We very much appreciate John`s efforts and his service to Astrotech Corporation since his appointment in 2009. John has been an important member of our leadership team and made a number of substantial contributions to Astrotech Corporation during his tenure."

 

About Astrotech Corporation and Astrotech Space Operations (ASO)

Astrotech is one of the first space commerce companies and remains a strong entrepreneurial force in the aerospace industry. We are leaders in identifying, developing and marketing space technology for commercial use. Our Astrotech Space Operations (ASO) has been a global satellite processing leader since 1981. With nearly 300 successful spacecraft missions to date, Astrotech continues to provide adaptable and flexible services for its government and commercial customers. Astrotech Space Operations provides all support necessary for successful spacecraft processing to prepare for launch on a variety of domestic and foreign launch vehicles. Spacecraft undergo pre-launch hardware integration and testing, satellite encapsulation, and fueling before transport to the pad. Astrotech Space Operations business unit serves our satellite and spacecraft customers with pre-launch services on the eastern (Kennedy Space Center) and western (Vandenberg Air Force Base) ranges.