PRINCETON JUNCTION, N.J., Jan. 8, 2013 (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 second quarter ended November 30, 2012. Revenue for the second quarter of fiscal 2013 was $137.7 million and net income was $9.2 million, or $0.32 per diluted share.
- Revenue grew by 21% to $137.7 million for the quarter. In the first six months, revenues grew by 22% to $251.1 million driven by acquisition growth of 18% and organic growth of 5%.
- Adjusted EBITDA, a non-GAAP measure detailed later in this release, increased by 16% to $23.9 million and 21% to $39.3 million for the three and six month periods ended November 30, 2012, respectively.
- Gross profit increased by 19% to $41.9 million in the second quarter and 21% in the first six months to $75.6 million.
- Net Income increased by 15% to $9.2 million for the quarter and 20% in the first six months to $13.5 million
- During the first six months of fiscal 2013, Net Cash Provided by Operating Activities grew to $27.4 million and EPS increased to $0.46 per diluted share versus $0.39 per diluted share in the prior year.