Team, Inc. Approves Change in Fiscal Year End from May 31 to December 31
Nov 10 15
Team, Inc. announced that its Board of Directors has approved a change in fiscal year end from May 31 to December 31. This change in fiscal year end from May 31 to December 31.
Team, Inc. Presents at Stephens 2015 Fall Investment Conference, Nov-10-2015 02:00 PM
Oct 24 15
Team, Inc. Presents at Stephens 2015 Fall Investment Conference, Nov-10-2015 02:00 PM. Venue: The New York Palace Hotel, 455 Madison Avenue, New York, NY 10022, United States.
Team, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended August 31, 2015; Provides Earnings Guidance for the Fiscal Year 2016
Oct 6 15
Team, Inc. reported unaudited consolidated earnings results for the first quarter ended August 31, 2015. For the quarter, the company reported revenue of $222,694,000 compared to $188,121,000 a year ago. Operating income was $4,449,000 compared to $11,825,000 a year ago. Earnings before income taxes were $2,244,000 compared to $11,051,000 a year ago. Net income was $1,425,000 compared to $7,053,000 a year ago. Net income available to common shareholders was $1,425,000 compared to $7,031,000 a year ago. Diluted earnings per share were $0.07 compared to $0.33 a year ago. Adjusted net income was $4,913,000 compared to $7,136,000 a year ago. Adjusted diluted earnings per share $0.23 compared to $0.34 a year ago. Adjusted EBIT was $9,942,000 compared to $11,989,000 a year ago. Adjusted EBITDA was $19,031,000 compared to $18,493,000 a year ago. Net cash provided by operating activities was $9,816,000 compared to $4,868,000 a year ago. Capital expenditures were $11,218,000 compared to $5,468,000 a year ago.
For fiscal year 2016, the company expects adjusted earnings per share will be $2.15 per diluted share. At this time, it expects consolidated revenues and adjusted EBITDA to be approximately $1.05 billion and $124 million, respectively. These estimates include approximately 11 months of Qualspec operating activity, and exclude certain non-routine items that are not indicative of Team's ongoing operating activities of $3.5 million (net of tax), or $0.16 per diluted share, recorded in the current quarter as well as ongoing implementation expenses related to the ERP project during the course of fiscal year 2016. The 2016 tax rate is expected to trend closer towards 37%, rather than 36% last year.