PRINCETON JUNCTION, N.J., April 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 fiscal third quarter ending February 28, 2013. Revenue for the third quarter was $133.7 million and net income was $2.8 million, or $0.09 per diluted share. Revenue for the nine months ended February 28, 2013 was $384.8 million and net income was $16.2 million, or $0.56 per diluted share.
- Revenue growth of 28% in the quarter was led by acquisition growth of 23% and organic growth of 6%. Revenue in the first nine months grew by 24% led by acquisition growth of 20% and organic growth of 5%.
- The Services segment delivered 10% organic growth in the quarter, while International segment revenues more than doubled.
- Adjusted Diluted Earnings Per Share* was $0.07 and $0.54 in the third quarter and nine month period, respectively. Adjusted Diluted Earnings Per Share excludes a $0.02 benefit in both the quarter and the nine month period resulting from the reversal of certain acquisition-related contingent liabilities.
- Adjusted EBITDA* was $12.5 million in the third quarter and $51.8 million in the nine month period.
- During the first nine months of fiscal 2013, Net Cash Provided by Operating Activities was $27.5 million, an increase of 31%.
- Third quarter results include approximately $1.1 million in higher employee medical claims, an increase of 41% over the prior year.