This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Team, Inc. Reports Third Quarter Results

SUGAR LAND, Texas, April 2, 2013 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE:TISI) today announced financial results for its fiscal year 2013 third quarter ending February 28, 2013. Team reported an adjusted loss of $0.01 per diluted share versus adjusted earnings of $0.10 per diluted share in the third quarter of the prior year. Revenues for the third quarter were $151.0 million compared to revenues of $136.5 million for the prior year quarter.  Adjusted net loss attributable to shareholders was $0.2 million, compared to adjusted net income available to shareholders of $2.0 million in the prior year quarter. The adjusted loss for the quarter excludes a $0.6 million pre-tax, non-routine charge associated with the Venezuelan currency devaluation announced by the government of Venezuela in February 2013. Including this charge, the loss in accordance with generally accepted accounting principles was $0.03 per diluted share and the net loss attributable to shareholders was $0.5 million.

For the fiscal year to date, adjusted earnings were $1.01 per diluted share versus adjusted earnings of $0.95 per diluted share in the first nine months of fiscal 2012. Year to date revenues were $513.1 million compared to $435.9 million in the prior year to date period and adjusted net income available to shareholders was $21.3 million versus adjusted net income available to shareholders of $19.6 million in the first nine months of fiscal 2012.

"In spite of the disappointing results for our third quarter announced on March 14, 2013, we remain on a pace for another record year in fiscal year 2013," said Phil Hawk, Team's Chairman and Chief Executive Officer. "While revenues declined in Canada and Europe for the reasons discussed in our pre-announcement conference call, we still achieved overall revenue growth of nearly 11% in the quarter. We remain confident in our business outlook and the overall strength of our end markets," said Hawk.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs