ALVIN, Texas, Jan. 7, 2013 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE:TISI) today announced financial results for its fiscal year 2013 second quarter ending November 30, 2012. Team reported earnings of $0.66 per diluted share versus adjusted earnings of $0.53 per diluted share in the second quarter of the prior year. Revenues for the second quarter were $201 million compared to revenues of $158 million for the prior year quarter. Net income available to shareholders was $13.9 million, compared to adjusted net income available to shareholders of $10.8 million in the prior year quarter.
- Record second quarter and year to date results.
- The first quarter in Team's history with revenue over $200 million.
- Total revenue growth rates of 27% for the quarter and 21% year to date.
- Organic revenue growth rates of 24% for the quarter and 19% year to date.
- Inspection and assessment revenues up over 40% for both the quarter and year to date.
- Operating income was 11.5% of revenues for the quarter and 9.9% for the year to date.
- EBITDA (adjusted) was 14.6% of revenues for the quarter and 13.2% for the year to date.
- Net income available to shareholders (adjusted) up 29% in the quarter and 22% for the year to date.