Astrotech Corporation (NASDAQ: ASTC) reports Q4 EPS of $0.15 compared to an $0.11 loss for the same period last year. Revenues were $10.38 million compared to $6.05 million for the same period last year.
The Company has a backlog of $25.4 million as of June 30, 2009. The majority of this backlog is for ASO pre-launch satellite processing services, which include hardware launch preparation; advance planning; use of unique satellite preparation facilities; and, spacecraft checkout, encapsulation, fueling, transport, and remote control through launch.
Astrotech also announced today that its Board of Directors has engaged investment banking firm Lazard Ltd. to advise the Company in exploring strategic financial and business alternatives to enhance shareholder value. Lazard Middle Market is the midcap focused financial advisory business of Lazard. [SM]
LONDON, June 4 (Reuters) - Spain's Telefonica (TEF.MC) has appointed Lazard to manage the potential sale of its 32.2 percent stake in Meditel, Morocco's second-largest telecoms company, a person familiar with the matter said on Thursday.
The appointment means Arab bidders already pursuing Portugal Telecom's (PTC.LS) 32.2 percent interest will have a shot at gaining a majority stake in the company, several banking sources said.
Telefonica said on Wednesday it would study its options if an offer were made to buy its stake in Meditel.
Reuters reported previously that Portugal Telecom had selected Morgan Stanley to run its sales process.
Naguib Sawiris, chairman of Egypt's Orascom Telecom (ORTE.CA) has said his firm was eyeing an investment in Meditel.
Emirates Telecommunications Corp (ETEL.AD), known as Etisalat, Bahrain Telecommunications Co BTEL.BH, or Batelco, and Saudi Telecom Company are likley to be interested as well, bankers said previously.
Sirius XM: Lazard Launches Coverage With Buy Rating, $1 Target
Lazard Capital analyst Barton Crockett this morning picked up coverage of Sirius XM (SIRI) with a Buy rating and $1 price target.
?After surviving a close brush with bankruptcy in early 2009, Sirius XM has falling costs, more than 18.5 million loyal subscribers accepting price hikes, entrenched growth via factory installs in most new cars and limited debt maturities until 2013, when rising cash flow should make refinancing easy,? he writes in a research note.
Crockett also notes that because of past losses, the company has a ?mammoth? $6.8 billion in net operating loss carryforwards, shielding it from taxes for at least a decade. He thinks the NOLs alone have a net present value of $1.8 billion.
SIRI today is up 2.5 cents, or 3.7%, to 70.8 cents.
