PRINCETON JUNCTION, N.J., Oct. 9, 2012 (GLOBE NEWSWIRE) -- Mistras Group, Inc. (NYSE:MG), a leading "one source" global provider of technology-enabled asset protection solutions, today reported financial results for the first quarter of fiscal 2013, which ended August 31, 2012. During the first quarter, the Company had revenues of $113.4 million, net income of $4.3 million, or $0.15 per diluted share, and Adjusted EBITDA*, a non-GAAP measure detailed later in this release, of $15.5 million. First Quarter Fiscal 2013 Financial Highlights:
- Revenue of $113.4 million increased 24%.
- Adjusted EBITDA* increased 29% to $15.5 million.
- Net income increased 33% to $4.3 million, or $0.15 per diluted share.
- Net cash provided by operating activities increased more than 60% to $21.5 million.
- Operating margins and Adjusted EBITDA* margins increased over the prior year.
- SG&A as a percent of revenues dropped to 20.7 % versus 21.2% in the prior year.