Spacehab = Todesrakete +86 %

Hallo zusammen,

was meint ihr zu Spacehab ?
Heute +86 % in Berlin-Bremen.
Und in den USA sehr hohes Handelsvolumen.

Wer weiss etwas darüber ??

Gruss Waxie  

Greetz  f-h

http://www.anmeldung.boerse-total.de

 

Greetz  f-h

http://www.anmeldung.boerse-total.de

 

SPACEHAB INC - Nasdaq National Market: SPAB
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SPACEHAB Files Tort Claim for Losses on Space Shuttle Mission

HOUSTON, Nov 8, 2004 (BUSINESS WIRE) -- SPACEHAB, Incorporated(NASDAQ/NMS:SPAB), a leading provider of commercial space services, todayannounced that it has filed a formal claim against NASA under the Federal TortClaims Act seeking restitution of its losses totaling in excess of $79.7 millionresulting from the tragic destruction of the Space Shuttle Columbia on February1, 2003.In January 2004 the Company filed a formal proceeding with NASA seekingindemnification under the Company's ReALMS contract in the amount of $87.7million for the value of the Company's Research Double Module (RDM) and relatedequipment that was destroyed during the STS-107 Space Shuttle Columbia tragedy.NASA responded to this contract claim on October 5, 2004. NASA's determinationstates that its liability is limited under the ReALMS contract to $8.0 million.The Company received payment of $8.2 million, which included $0.2 million ofinterest, from NASA in October 2004. The Company has the right to appeal NASA'sdecision to deny its claim for indemnification in excess of $8.0 million. Theappeal can be filed with either the Armed Services Board of Contract Appeals orthe U.S. Court of Federal Claims. SPACEHAB is evaluating its options inappealing NASA's determination.The claim now made under the Federal Tort Claims Act is separate and in additionto the previously filed claim under SPACEHAB's contract with NASA for which theRDM was provided. Under the Federal Tort Claims Act, SPACEHAB is claiming thatNASA's negligence led to the space shuttle accident and the destruction of theRDM and, accordingly, the Company seeks restitution of the loss it sufferedregardless of contractual arrangements between NASA and the Company. Underfederal tort claim procedures, NASA has statutory deadlines for responding tosuch claims. In the event that the Company's administrative claim is denied, theCompany would have the right to pursue the claim in the Federal district court.SPACEHAB's claim specifies the following four areas of negligence by NASA thatled to the destruction of the Space Shuttle Columbia and the Company's RDM: (i)NASA personnel negligently provided NASA decision-makers with false informationthat obscured the risks to STS-107 and the RDM, (ii) NASA negligently violatedits own rules on foam shedding when compliance with those rules would haveprevented the accident, (iii) NASA created organizational barriers thatprevented effective communication and analysis of critical safety informationand thereby caused the accident, and (iv) NASA negligently failed to comply withaccepted engineering standards and thereby caused the destruction of the RDM.These acts and their implicit negligence are documented in the Columbia AccidentInvestigation Board (CAIB) report which represents the findings of thepost-accident investigation. NASA has "embraced the CAIB report and itsrecommendations" and "fully accepts the Board's findings."About SPACEHAB, IncorporatedSPACEHAB, Incorporated (www.spacehab.com) is a leading provider of commercialand government space services with three primary business units. The FlightServices business unit develops, owns, and operates habitat and laboratorymodules and cargo carriers aboard NASA's Space Shuttles for Space Stationresupply and research purposes. SPACEHAB's Astrotech subsidiary provides payloadprocessing support services for both commercial and government customers atcompany-owned facilities in Florida and California. The Company's GovernmentServices business unit supports NASA's Johnson Space Center providingconfiguration management, product engineering, and support services for both theSpace Station and Space Shuttle programs. Additionally, through The Space Store,Space Media provides space merchandise to the public and space enthusiastsworldwide (www.thespacestore.com) The statements in this document may contain forward-looking statements that aremade pursuant to the Safe Harbor provisions of the Private Securities LitigationReform Act of 1995. Such forward-looking statements are subject to risks,trends, and uncertainties that could cause actual results to be materiallydifferent from the forward-looking statement. These factors include, but are notlimited to, continued government support and funding for key space programs,product performance and market acceptance of products and services, as well asother risk factors and business considerations described in the company'sSecurities & Exchange Commission filings including the annual report on Form10-K. Any forward-looking statements in this document should be evaluated inlight of these important risk factors. The Company assumes no obligation toupdate these forward-looking statements.

SPACEHAB Reports Financial Results for First Quarter Fiscal Year 2005

HOUSTON, Nov 9, 2004 (BUSINESS WIRE) -- SPACEHAB, Incorporated(Nasdaq/NMS:SPAB)    Highlights    --  Net income of $7.0 million (inclusive of amounts received in        NASA claim)    --  First quarter revenue of $13.0 million despite space shuttle        grounding and anticipated lull in Astrotech payload processing    --  Cash plus short-term investments of $6.2 million (exclusive of        amounts received in NASA claim)    --  Contract backlog of $88.9 millionSPACEHAB, Incorporated (Nasdaq/NMS:SPAB), a leading provider of commercial spaceservices, today announced financial results for its first quarter fiscal year2005 ended September 30, 2004.Earnings and RevenueSPACEHAB posted a first quarter fiscal year 2005 net income of $7.0 million, or$0.55 per share ($0.49 per share diluted), on revenue of $13.0 million comparedwith prior year quarter net income of $0.67 million, or $0.05 per share ($0.05per share diluted), on revenue of $18.9 million. First quarter 2005 resultsreflect the recovery of $8.0 million from NASA for the loss of SPACEHAB'sResearch Double Module (RDM) on the STS-107 space shuttle accident. Therecovery, along with $0.2 million of interest, is reflected in operatingexpenses and accounts receivable for the first quarter fiscal year 2005. InOctober 2004 the Company received the payment of $8.2 million from NASA.Revenue for the first fiscal quarter of 2005 decreased from the prior yearprimarily due to the continuing postponement of space shuttle missions as wellas an anticipated slow quarter in spacecraft processed through the Company'sAstrotech subsidiary. Additionally, the prior year's first quarter includedrevenue from certain contracts that have now expired in the Company's SPACEHABGovernment Services (SGS) business unit."Although we anticipated the first quarter of 2005 to be our biggest financialchallenge for the year, we experienced a better quarter than expected with theaward of new business derived from non-shuttle programs," said Brian K.Harrington, SPACEHAB Senior Vice President, Finance and Chief Financial Officer."Our new role on NASA's lunar exploration initiative and our successfulcommercial delivery of research hardware to the International Space Station viaa Russian Progress vehicle are two examples of growing space commerceopportunities."Selling, general and administrative expenses declined to approximately $2.0million for the first quarter 2005 compared to $2.9 million for the same perioda year ago. This improvement in selling, general and administrative expenses isdue to decreases in personnel expenses from the Company's on-going costreduction efforts and benefits from consolidating the Company's corporateoffices in Houston, Texas. The first quarter 2005 selling, general andadministrative costs also include legal expenses incurred on the claim withNASA.LiquidityThe Company's cash and short-term investments were approximately $6.2 million asof September 30, 2004. As mentioned, in October 2004 the Company received $8.2million from NASA in indemnification of losses suffered in the STS-107 accident,which had been recorded in accounts receivable as of September 30, 2004.SPACEHAB expects to utilize existing cash, cash anticipated from futureoperations, and any potential additional proceeds from NASA in settlement of theCompany's claims related to the losses in the accident to support strategies fornew business initiatives and to reduce long-term debt.Deferred revenue as of September 30, 2004 was reduced to $4.2 million comparedto $14.7 million at September 30, 2003. The decrease is primarily due to thesuccessful execution of a commercial contract with the Japan AerospaceExploration Agency (JAXA) where SPACEHAB provided for the delivery of a thermalincubator system to the International Space Station (ISS) via the RussianProgress for one of its international customers.Current liabilities decreased to $19.9 million at September 30, 2004 compared to$24.5 million at September 30, 2003 mainly due to reductions in current deferredrevenue, accounts payable, and accrued expenses.Update of Ongoing Operations"I am pleased to see us begin our 2005 fiscal year stable, lean, and primed,"said Michael E. Kearney, SPACEHAB President and Chief Executive Officer. "Withthe Space Shuttle Discovery in process for an anticipated launch next May, afull processing schedule for the remainder of the year at Astrotech, emergingopportunities for new commercial business, and a NASA charter to develop newconcepts that support the Nation's vision for Moon, Mars, and beyond, thispromises to be an exciting year."SPACEHAB Flight Services (SFS) continues to provide logistics capabilities andassets in support of the ISS program. This business unit is under contract forthe use of SPACEHAB's single module as well as its Integrated Cargo Carriers(ICCs) to support four logistics missions to the ISS: STS-114, STS-121, STS-116,and STS-118, in order of their scheduled launch dates.As mentioned previously, the SFS business unit provided JAXA with launch andon-orbit use of a protein crystal growth incubation system under a contract withMitsubishi Corporation, SPACEHAB's marketing representative in Japan. Flownaboard a Russian Progress vehicle, this payload demonstrates SPACEHAB's abilityto offer timely and affordable commercial access to space via the Company'sinternational alliances.With the successful transition of all systems integration and operationscapabilities from SPACEHAB's previous Boeing subcontractor to an in-housecapability, the Company has improved the efficiency of its module services.SPACEHAB now provides end-to-end mission integration, hardware development, andsustaining engineering functions and has a stronger team able to support futurelogistics and research missions to the ISS as well as support NASA's explorationinitiatives.During the fourth quarter fiscal year 2004, SPACEHAB's Astrotech subsidiarysupported the processing of two NASA spacecraft that were successfully launchedduring the first quarter of 2005. The Aura mission, processed at the Company'sVandenberg Air Force Base location, will study the ozone, pollution, andclimatic changes in the Earth's atmosphere. NASA's Messenger spacecraft,processed at SPACEHAB's Florida facilities, is designed to orbit the planetMercury at a distance of 125 miles to collect information on the planet's crust,atmosphere, and polar materials.After the first quarter 2005 scheduled downtime, Astrotech is moving into highgear with the arrival of NASA's Deep Impact spacecraft at the Company'sTitusville, Florida location, the first new processing activity scheduled forthe fiscal year. The purpose of this mission is to launch a copper projectileinto the surface of Comet Tempel and record photos and data of the large craterthat will be formed.Astrotech Long Beach operations supported the arrival of the Intelsat Americas-8(IA-8) spacecraft, built by Space Systems/Loral, at the Sea Launch Home Portfacilities in preparation for a December 2004 launch date. Set to arrive at theAstrotech Florida facilities in November is the AMC-16 spacecraft, a hybridKu/Ka-band satellite built by Lockheed Martin Commercial Space Systems and thefirst of its kind to be launched on an Atlas V launch vehicle. Astrotech is alsoworking with NASA on finalizing an Indefinite Delivery/Indefinite Quantity(IDIQ) contract format for future processing support for missions scheduled forlaunch during 2006 through 2010.SPACEHAB Government Services continues to provide configuration managementservices within the Program Integration and Control (PI&C) contract supportingthe ISS program. The first task order of this contract was successfullycompleted at the end of the Company's first quarter 2005 which coincides withthe end of NASA's fiscal year. A new task order at the same funding level tosupport another year's effort has been negotiated and approved by NASA despitereductions in the Agency's 2005 budget in this area.As reported, in January 2004 the Company filed a formal proceeding with NASAseeking indemnification under the Company's Research and Logistics MissionSupport (ReALMS) contract in the amount of $87.7 million for the value of theCompany's RDM and related equipment that was destroyed during the STS-107 spaceshuttle Columbia tragedy. NASA responded to this contract claim on October 5,2004. NASA's determination states that its liability is limited under the ReALMScontract to $8.0 million. The Company received payment of $8.2 million, whichincluded $0.2 million of interest, from NASA in October 2004. The Company hasthe right to appeal NASA's decision to deny its claim for indemnification inexcess of $8.0 million. The appeal can be filed with either the Armed ServicesBoard of Contract Appeals or the U.S. Court of Federal Claims. SPACEHAB isevaluating its options in appealing NASA's determination.On November 8, 2004 the Company filed a second claim with NASA seeking damagesof $79.7 million under the Federal Tort Claims Act for the loss of the RDMresulting from NASA's alleged negligence leading to the destruction of the SpaceShuttle Columbia and the loss of the RDM. The Company's claim represents itsloss of $87.7 million less the $8.0 million recovered from NASA. Under federaltort claim procedures, NASA has statutory deadlines for responding to suchclaims. In the event that the Company's administrative claim is denied, theCompany would have the right to pursue the claim in the Federal district court.In January 2004 Lloyd's of London (Lloyd's), the Company's insurer for the RDM,filed a complaint in the United States District Court for the Western Districtof Washington seeking the return of the $17.7 million Lloyd's had paid to theCompany under the RDM insurance policy alleging that, among other things, (i)such proceeds were paid erroneously primarily due to the fact that NASA had notpaid indemnification due to the Company prior to the payment of the insuranceproceeds, (ii) the Company and its insurance broker misled Lloyd's in issuingthe policy, and (iii) the Company has not cooperated with Lloyd's in protectingLloyd's right of subrogation. In February 2004 Lloyd's withdrew its complaintfrom the United States District Court and filed a similar complaint in SuperiorCourt of the State of Washington. On November 1, 2004 SPACEHAB filed a motionwith the Superior Court of the State of Washington to dismiss under forum nonconveniens. The Company believes that Lloyd's complaint is without merit andwill continue to respond to the complaint accordingly.Conference CallSPACEHAB will host a conference call today at 10:00 a.m. Central time followingthe earnings release. During the call, management will discuss the Company'sfirst quarter financial results as well as other recent and potential futuredevelopments relating to SPACEHAB. To participate on the call, please dial800-377-4872 (domestic calls) or 816-650-0783 (international calls) and ask forthe SPACEHAB Earnings Conference. A taped replay will be available following theconference call and accessible via access code 28810984 until 11:59 p.m. Easterntime on November 10, 2004 at 800-252-6030 (domestic calls) or 402-220-2491(international calls). To hear a replay of the call via the Internet, visit theInvestor Information section of the SPACEHAB website at www.spacehab.com. Thisaudio archived webcast of the conference call will be available on the Companywebsite for approximately 90 days.About SPACEHAB, IncorporatedSPACEHAB, Incorporated (www.spacehab.com) is a leading provider of commercialand government space services with three primary business units. The FlightServices business unit develops, owns, and operates habitat and laboratorymodules and cargo carriers aboard NASA's Space Shuttles for Space Stationresupply and research purposes. SPACEHAB's Astrotech subsidiary provides payloadprocessing support services for both commercial and government customers atcompany-owned facilities in Florida and California. The Company's GovernmentServices business unit supports NASA's Johnson Space Center providingconfiguration management, product engineering, and support services for both theSpace Station and Space Shuttle programs. Additionally, through The Space Store,Space Media provides space merchandise to the public and space enthusiastsworldwide (www.thespacestore.com) The statements in this document may contain forward-looking statements that aremade pursuant to the Safe Harbor provisions of the Private Securities LitigationReform Act of 1995. Such forward-looking statements are subject to risks,trends, and uncertainties that could cause actual results to be materiallydifferent from the forward-looking statement. These factors include, but are notlimited to, continued government support and funding for key space programs,product performance and market acceptance of products and services, as well asother risk factors and business considerations described in the company'sSecurities & Exchange Commission filings including the annual report on Form10-K. Any forward-looking statements in this document should be evaluated inlight of these important risk factors. The Company assumes no obligation toupdate these forward-looking statements.                 SPACEHAB, Incorporated and Subsidiaries       Unaudited Condensed Consolidated Statements of Operations                   (In Thousands, Except Share Data)                                                   Three Months                                                 Ended September 30,                                               -----------------------                                                  2004        2003                                               ----------- -----------Revenue                                           $13,033     $18,850Costs of revenue                                   10,786      13,527                                               ----------- -----------Gross profit                                        2,247       5,323                                               ----------- -----------Operating expenses  Selling, general and administrative               1,966       2,932  Research and development                              7           -  Recovery of nonrecurring charge, loss of   Research Double Module                          (8,244)                                               ----------- -----------     Total operating expenses                      (6,271)      2,932                                               ----------- -----------     Income from operations                         8,518       2,391Interest expense                                   (1,458)     (1,740)Interest and other income, net                         41          33                                               ----------- -----------     Income before income taxes                     7,101         684Income tax expense                                   (142)        (18)                                               ----------- ----------- Net income                                        $6,959        $666                                               =========== ===========Income per share:Net income per share - basic                        $0.55       $0.05                                               =========== ===========Shares used in computing net income per share - basic                             12,574,224  12,370,955                                               =========== ===========Net income per share - diluted                      $0.49       $0.05                                               =========== ===========Shares used in computing net income per share - diluted                           14,247,860  13,745,450                                               =========== ===========Condensed Consolidated Balance Sheets(In thousands)                                 September 30,  June 30,                                                   2004        2004                    ASSETS                      (unaudited)                                               -------------- --------Cash and cash equivalents                               $558     $936Short-term investments                                 5,677    6,641Accounts receivable, net                              14,676    7,878Prepaid expenses and other current assets                648      495                                               -------------- --------     Total current assets                             21,559   15,950Property and equipment, net of accumulated depreciation and amortization of $51,040 and $49,755, respectively                                78,420   79,600Other assets, net                                      3,194    4,375                                               -------------- --------     Total assets                                   $103,173  $99,925                                               ============== ========     LIABILITIES AND STOCKHOLDERS' EQUITYCurrent liabilities                                  $19,855   22,301                                               -------------- --------Long-term liabilities                                 66,905   68,214Stockholders' equity                                  16,413    9,410                                               -------------- -------- Total liabilities and stockholders' equity         $103,173  $99,925                                               ============== ========SOURCE: SPACEHAB, Inc.CONTACT:          SPACEHAB, Inc., Houston                  Kimberly Campbell, 713-558-5049                  campbell@spacehab.com                  www.spacehab.comCopyright (C) 2004 Business Wire.  All rights reserved.KEYWORD:          CALIFORNIA FLORIDA TEXASINDUSTRY KEYWORD: GOVERNMENT                  AEROSPACE/DEFENSE                  MANUFACTURING                  EARNINGS                  CONFERENCE                  CALLS                  Copyright                  Business                  Wire                  2004

Spacehab, Inc. (Nasdaq: SPAB) 35.25% HIGHER; filed a formal claim against NASA
under the Federal Tort Claims Act seeking restitution of its losses in excess of
$79.7 million resulting from the destruction of the Space Shuttle.

Greetz  f-h

http://www.anmeldung.boerse-total.de