Highlights and Other Financial Data for Third Quarter
- Total revenue growth rates of 11% for the quarter and 18% year to date.
- Organic revenue growth rates of 8% for the quarter and 14% year to date.
- Inspection and assessment revenues up 25% for the quarter and 35% year to date.
- Operating income was 7.1% of revenue for the year to date.
- Adjusted EBITDA of $6.3 million (4.2% of revenue) for the quarter and $53.9 million (10.5% of revenue) year to date.
- Capital expenditures were $6 million for the quarter and $19 million year to date.
- Net debt (total debt less cash) was $53 million at the end of the quarter.
- Net debt to trailing twelve month adjusted EBITDA was .6 to 1.
Fiscal Year 2013 Earnings and Revenue Guidance
On March 14, 2013, Team announced that it lowered its full year earnings guidance for fiscal year 2013 to a range of $1.70 to $1.85 per diluted share and that full fiscal year revenues are expected to be $705 million to $720 million.
Earnings Conference CallIn connection with this earnings release, Team will hold its quarterly conference call on Wednesday, April 3, 2013 at 8:00 a.m. Central Time (9:00 a.m. Eastern). The call will be broadcast over the Web and can be accessed on Team's Website, www.teamindustrialservices.com . Individuals wishing to participate in the conference call by phone may call 877-280-4957 and use conference code 86751696 when prompted. About Team, Inc. Headquartered near Houston, Texas, Team, Inc. is a leading provider of specialty industrial services, including inspection and assessment, required in maintaining and installing high-temperature and high-pressure piping systems and vessels that are utilized extensively in the refining, petrochemical, power, pipeline and other heavy industries. Team offers these services in over 125 locations throughout the world. Team's common stock is traded on the New York Stock Exchange under the ticker symbol "TISI".