Austin, Texas – July 9, 2018 – Astrotech (NASDAQ: ASTC) subsidiary Astral Images, a company that develops film-to-digital image enhancement, defect removal, and color correction technologies – and ColorTime, LLC, a post-production house specializing in media content creation, restoration, and distribution, today announced an agreement for ColorTime to incorporate Astral Images’ Image Correction and Enhancement (ICE™) software and proprietary scanner hardware into their workflow.
“Our team is excited to partner with ColorTime as they share our mission of enhancing the viewing experience for audiences everywhere. We are encouraged by the tremendous support we’re seeing from the creative community as our products continue to be made available on a larger scale,” said Thomas B. Pickens III, CEO of Astral Images and Astrotech.
With clients such as 20th Century Fox, Sony Pictures, NBC Universal, and AT&T, ColorTime has performed post-production services for major films and TV series including Arrested Development, Modern Family, and Columbo.
Astral ICE™ will enable ColorTime to consolidate its post-production process and keep its entire workflow in-house – reducing costs and turnaround time substantially.
“We had a great experience using Astral ICE technology in the past, and we’re excited to add it to the tools we offer our clients,” said Moshe Barkat, CEO of ColorTime, LLC.
ColorTime, LLC is a full-service content creation, restoration and management company based in North Hollywood, California. For the past two years, ColorTime has provided services to television programs such as Modern Family, Life in Pieces and Arrested Development as well as complete restoration in 4K HDR for the NBC Universal classic, Columbo. For more information, visit www.colortime2020.com.
Astrotech (NASDAQ: ASTC) is an innovative science and technology company that invents, acquires, and commercializes technological innovations sourced from research institutions, laboratories, universities, and internally, and then funds, manages, and builds proprietary, scalable start-up companies for profitable divestiture to market leaders to maximize shareholder value. Sourced from decades of image research from IBM and Kodak laboratories, Astral Images sells film-to-digital image enhancement, defect removal and color correction software, as well as post-processing services providing economically feasible conversion of television and feature 35mm and 16mm films to the new 4K ultra-high definition (UHD), high-dynamic range (HDR) format necessary for the new generation of digital distribution. 1st Detect develops, manufactures, and sells chemical analyzers for use in the security, defense, healthcare, food and beverage, and environmental markets. Sourced from NASA’s extensive microgravity research, Astrogenetix is applying a fast-track, on-orbit discovery platform using the International Space Station to develop vaccines and other therapeutics. Demonstrating its entrepreneurial strategy, Astrotech management sold its state-of-the-art satellite servicing operations to Lockheed Martin in August 2014. Astrotech is headquartered in Austin, Texas.
This press release contains forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, whether we can successfully develop our proprietary technologies and whether the market will accept our products and services, as well as other risk factors and business considerations described in the Company’s Securities and Exchange Commission filings including the annual report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. The Company assumes no obligation to update these forward-looking statements.
Eric Stober, Chief Financial Officer, Astrotech, (512) 485-9530
Nicole Conser, Marketing Director, Astrotech, (512) 485-9530