Mistras Group, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended November 30, 2015. For the quarter, the company has posted revenue of $194,786,000 against $206,893,000 a year ago. Income from operations was $19,569,000 against $18,192,000 a year ago. Net income attributable to company was $11,425,000 or $0.39 diluted per share against $10,427,000 or $0.35 diluted per share a year ago. EBITDA was $27,527,000 against $26,593,000 a year ago. Adjusted EBITDA was $29,073,000 against $29,072,000 a year ago.

For the six months, the company has posted revenue of $374,639,000 against $373,466,000 a year ago. Income from operations was $32,501,000 against $21,856,000 a year ago. Net income attributable to company was $18,297,000 or $0.62 diluted per share against $12,093,000 or $0.41 diluted per share a year ago. EBITDA was $48,444,000 against $38,531,000 a year ago. Adjusted EBITDA was $51,343,000 against $42,455,000 a year ago. Cash flow from operating activities improved to $26.5 million compared with $3.2 million in the prior year's first half, driven by improved profitability and less drag from working capital, as days sales outstanding improved by approximately 5 days or 7% compared with the prior year's first six months. Free cash flow improved to positive $18.8 million compared with negative $4.7 million in the prior year. Total capital expenditures, including noncash capital lease outlays, were $9.3 million or 2.5% of revenue compared with 3.1% in the prior year's first half.

The company revised earnings guidance for the year 2016. For the year 2016, the company continues to expect that revenues will be similar to those of prior year in a range of from $710 million to $725 million. The range for adjusted EBITDA was increased to $79 million to $83 million from $72 million to $78 million.