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Team, Inc. Reports Record Second Quarter Results; Raises FY2013 Earnings Guidance



Team, Inc. Reports Record Second Quarter Results; Raises FY2013 Earnings
Guidance

ALVIN, Texas, Jan. 7, 2013 (GLOBE NEWSWIRE) -- Team, Inc. (NYSE:TISI) today
announced financial results for its fiscal year 2013 second quarter ending
November 30, 2012. Team reported earnings of $0.66 per diluted share versus
adjusted earnings of $0.53 per diluted share in the second quarter of the
prior year. Revenues for the second quarter were $201 million compared to
revenues of $158 million for the prior year quarter. Net income available to
shareholders was $13.9 million, compared to adjusted net income available to
shareholders of $10.8 million in the prior year quarter.

For the fiscal year to date, earnings were $1.03 per diluted share versus
adjusted earnings of $0.86 per diluted share in the first half of fiscal 2012.
First half revenues were $362 million compared to $299 million in the prior
year period and net income available to shareholders was $21.5 million versus
adjusted net income available to shareholders of $17.6 million in the first
half of fiscal 2012.

"We are on pace for another record year in fiscal year 2013," said Phil Hawk,
Team's Chairman and Chief Executive Officer. "We are proud to have achieved
the first $200 million revenue quarter in our history and more than a 20%
revenue growth rate for both the quarter and year to date—growth rates that
are consistent with our track record over more than ten years," said Hawk.

Highlights for Second Quarter

  * Record second quarter and year to date results.
  * The first quarter in Team's history with revenue over $200 million.
  * Total revenue growth rates of 27% for the quarter and 21% year to date.
  * Organic revenue growth rates of 24% for the quarter and 19% year to date.
  * Inspection and assessment revenues up over 40% for both the quarter and
    year to date.
  * Operating income was 11.5% of revenues for the quarter and 9.9% for the
    year to date.
  * EBITDA (adjusted) was 14.6% of revenues for the quarter and 13.2% for the
    year to date.
  * Net income available to shareholders (adjusted) up 29% in the quarter and
    22% for the year to date.

Fiscal year 2013 Earnings and Revenue Guidance

Team is raising its previously issued earnings guidance for fiscal year 2013
by $0.05 per share to a revised range of $1.90 to $2.05 per diluted share and
we now expect full fiscal year revenues to be $700 million to $730 million.

Earnings Conference Call

In connection with this earnings release, Team will hold its quarterly
conference call on Tuesday, January 8, 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 800-299-7635 and use
conference code 90022544 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".

Certain forward-looking information contained herein is being provided in
accordance with the provisions of the Private Securities Litigation Reform Act
of 1995.  We have made reasonable efforts to ensure that the information,
assumptions and beliefs upon which this forward-looking information is based
are current, reasonable and complete. Such forward-looking statements involve
estimates, assumptions, judgments and uncertainties. There are known and
unknown factors that could cause actual results or outcomes to differ
materially from those addressed in the forward-looking information. Such known
factors are detailed in the Company's Annual Report on Form 10-K and in the
Company's Quarterly Reports on Form 10-Q as filed with the Securities and
Exchange Commission, and in other reports filed by the Company with the
Securities and Exchange Commission from time to time. Accordingly, there can
be no assurance that the forward-looking information contained herein will
occur or that objectives will be achieved.  We assume no obligation to
publicly update or revise any forward-looking statements made today or any
other forward-looking statements made by the company, whether as a result of
new information, future events or otherwise.

TEAM, INC. AND SUBSIDIARIES
SUMMARY OF OPERATING RESULTS
(in thousands, except per share data)
                                                                    
                               Three Months Ended      Six Months Ended
                               November 30,            November 30, 
                               2012        2011        2012        2011
                               (unaudited) (unaudited) (unaudited) (unaudited)
Revenues                        $ 200,648   $ 158,273   $ 362,140   $ 299,366
Operating expenses              138,184     107,827     250,140     204,473
Gross margin                    62,464      50,446      112,000     94,893
                                                                    
Selling, general and            39,928      33,772      77,002      66,906
administrative expenses
Earnings from unconsolidated    504         406         866         848
affiliates
Operating income                23,040      17,080      35,864      28,835
                                                                    
Foreign currency loss (gain)    114         (107)       188         164
Interest expense, net           677         567         1,276       1,150
Earnings before income taxes    22,249      16,620      34,400      27,521
                                                                    
Provision for income taxes      8,232       6,232       12,728      10,320
Net income                     14,017      10,388      21,672      17,201
                                                                    
Less: Income attributable to   81          46          175          65
non-controlling interest
Net income available to common  $ 13,936    $ 10,342    $ 21,497    $ 17,136
shareholders
                                                                    
Earnings per common share:                                          
Basic                           $ 0.69      $ 0.53      $ 1.08      $ 0.88
Diluted                         $ 0.66      $ 0.50      $ 1.03      $ 0.83
                                                                    
Weighted average number of                                          
shares outstanding:
Basic                           20,052      19,591      19,963      19,549
Diluted                         20,994      20,548      20,932      20,524
                                                                    
Divisional revenues:                                                
TCM                             $ 124,493   $ 90,976    $ 220,658   $ 168,009
TMS                             76,155      67,297      141,482     131,357
                                $ 200,648   $ 158,273   $ 362,140   $ 299,366
                                                                    
Adjusted Net income:                                                
Net income available to common  $ 13,936    $ 10,342    $ 21,497    $ 17,136
shareholders
Legal settlement                --          800         --          800
Tax impact of adjustments       --          (300)       --          (300)
Adjusted Net income             $ 13,936    $ 10,842    $ 21,497    $ 17,636
                                                                    
Adjusted Net income per common                                      
share:
Basic                           $ 0.69      $ 0.55      $ 1.08      $ 0.90
Diluted                         $ 0.66      $ 0.53      $ 1.03      $ 0.86
                                                                    
Adjusted EBITDA:                                                    
Operating income ("EBIT")       $ 23,040    $ 17,080    $ 35,864    $ 28,835
Legal settlement                --          800         --          800
Adjusted EBIT                   23,040      17,880      35,864      29,635
Depreciation and amortization   5,081       4,196       9,654       8,335
Non-cash share-based            1,237       1,455       2,120       2,620
compensation costs
Adjusted EBITDA                 $ 29,358    $ 23,531    $ 47,638    $ 40,590
                                                                    

TEAM, INC. AND SUBSIDIARIES
SUMMARY CONSOLIDATED BALANCE SHEET INFORMATION
NOVEMBER 30, 2012 AND MAY 31, 2012
(in thousands)
                                                         
                                           November 30, May 31,
                                           2012         2012
                                           (unaudited)   
                                                         
Current assets                              $ 255,339    $ 218,675
                                                         
Property, plant and equipment, net          71,244       62,041
                                                         
Other non-current assets                    142,147      123,072
                                                         
Total assets                                $ 468,730    $ 403,788
                                                         
Current liabilities                         $ 67,517     $ 61,656
                                                         
Long term debt net of current maturities    105,520      85,872
                                                         
Other non-current liabilities               19,762       11,259
                                                         
Stockholders' equity                        275,931      245,001
                                                         
Total liabilities and stockholders' equity  $ 468,730    $ 403,788
                                                         

CONTACT: Ted W. Owen
         (281) 331-6154

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