SUGAR LAND, Texas, March 14, 2013 (GLOBE NEWSWIRE) -- Team, Inc., (NYSE:TISI) today announced that it is lowering its earnings guidance for its fiscal year ending May 31, 2013 to a range of $1.70 to $1.85 per fully diluted share. The revised guidance is a decrease of $0.20 per share from the previously issued earnings guidance, and excludes the impact of a non-routine pre-tax charge estimated at $600,000 associated with the recent Venezuelan currency devaluation. Team is also modifying its full year revenue guidance to a range of $705 to $720 million. The revised guidance reflects disappointing results in Team's historically weak third fiscal quarter due primarily to lower than expected revenues from its Canadian and European business units as well as a now anticipated slowing of business growth in the fourth quarter due to the expected timing of large turnaround projects.
Team, Inc. Lowers Fiscal Year 2013 Earnings Guidance
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