Astrotech Corporation Appoints Eric Stober as Chief Financial Officer

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AUSTIN, Texas, Nov. 14, 2013 (GLOBE NEWSWIRE) -- Astrotech Corporation (Nasdaq:ASTC) today announced that it has appointed Eric Stober as Chief Financial Officer ("CFO") of the Company. Mr. Stober's appointment is effective as of November 14, 2013.

"The Board is delighted to promote Mr. Stober to Chief Financial Officer," stated Thomas B. Pickens III, Chairman and Chief Executive Officer of Astrotech Corporation. "I have worked with Mr. Stober since 2008 and have found him to be hard working, trustworthy, competent and knowledgeable. Management and the Board of Directors are excited to promote Eric to this position as he has excelled in every position held over the last five and a half years."

Mr. Stober joined Astrotech Corporation in August of 2008 as a Senior Staff Financial Analyst. In the same year, he was promoted to Principal Financial Analyst and from 2012 to the present, Mr. Stober served as Vice President of Corporate Development. Mr. Stober brings 14 years of experience in private equity, finance and business start-ups. Prior to joining Astrotech Corporation, he worked at the private equity firm Virtus Financial Group, analyzing prospective middle market private equity investments. Additionally, Mr. Stober founded or co-founded several companies, including a web advertising company, a small business tax and financial advisory firm, a sports-based media and entertainment company, and a service provider sourcing company. He has helped numerous companies prepare business plans and raise start-up or growth capital. Mr. Stober began his professional career working for both The Ayco Company, a Goldman Sachs company, and Lehman Brothers, where he helped wealthy individuals and families manage their investments, taxes, insurance, estate plans, and compensation and benefits.

Mr. Stober has an MBA from the McCombs School of Business at the University of Texas where he was the President of the MBA Entrepreneur Society. He also has an undergraduate degree in finance from the University of Illinois where he graduated with honors.

"I am honored to assume the role of CFO," said Mr. Stober. "It has been exciting to see the opportunities at Astrotech Corporation develop over the years and I look forward to continuing my contribution to our culture of adding value for our shareholders."

About Astrotech Corporation

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 ASO business unit serves our government and commercial satellite and spacecraft customers with pre-launch services on the eastern and western range. 1st Detect Corporation is developing what we believe is a breakthrough miniature mass spectrometer, the MMS-1000™, while Astrogenetix, Inc. is a biotechnology company utilizing microgravity as a research platform for drug discovery and development.

CONTACT: Astrotech Corporation 401 Congress, Suite 1650 Austin, Texas 512.485.9530 fax: 512.485.9531 www.astrotechcorp.com

Source:Astrotech Corporation