PRINCETON JUNCTION, N.J., Aug. 8, 2012 (GLOBE NEWSWIRE) -- Mistras Group, Inc. (NYSE:MG), a leading "one source" global provider of technology-enabled asset protection solutions, today reported financial results for its fiscal year and fourth quarter ending May 31, 2012. Revenue for fiscal 2012 was $436.9 million and net income was $21.4 million, or $0.74 per diluted share.
Fiscal 2012 Financial Highlights:
- Revenue of $436.9 million increased 29%; organic revenue growth was 16%.
- Achieved double digit growth in all three business segments.
- Adjusted EBITDA*, a non-GAAP measure detailed later in this release, increased 25% to $65.2 million.
- Adjusted Net Income*, a non-GAAP measurement detailed later in this release, increased 31% to $21.8 million, or $0.76 per diluted share.
- Ended fiscal 2012 with $8.4 million in cash, $50.9 million in net debt and $100.0 million available on the revolving credit facility.
- SG&A as a percent of revenues was 19.0%, versus 19.5% in fiscal 2011.
Fourth Quarter 2012 Financial Highlights:
- Revenue was $127.1 million, an increase of 24% from the fourth quarter of fiscal 2011.
- Adjusted EBITDA* increased 11% to $19.3 million.
- Adjusted Net Income* was $7.1 million, or $0.25 per diluted share.