Spacehab Inc.

From the April 28, 1997 Washington Post

	'96 (in $ 000s)	% Change From '95
Revenue	56,400	22.3
Net Income	29,800	88.6
Rank Last Year: 86

Description:
Spacehab owns and operates supply and research modules that are carried onNASA's space shuttles. Its modules also supply Russia's Mir space station with items ranging from food to clothing to technical equipment.

Business Resume: Contact Info -- 1595 Spring Hill Rd. Vienna, Va. 22182 703-821-3000 Main Business -- Space modules Founded -- 1984 Chairperson -- Shelley A. Harrison (CEO) President -- Chester Lee Employees -- 55 D.C.-Area Employees -- 25

Developments:
Spacehab's revenue increased by more than $10 million this year, a gain the company has attributed mostly to the introduction of its Spacehab logistics double module. This new model, which had its inaugural flight aboard the shuttle Atlantis in September, increases the capacity to carry vital supplies into space as well as conduct scientific experiments. Until now, Spacehab had been using only single modules.

But because of accounting standards, the company cannot report revenue—even though it already may have been paid—until a mission has been completed and the modules returned to their facility. These standards can affect the company's revenue stream.

In February, Spacehab acquired Astrotech Space Operations in Titusville, Fla., which is the primary provider of satellite payload processing—a method of integrating satellites with the rockets that carry them into space. Spacehab expects this acquisition will boost its earnings for 1997 as well.