Mistras Group, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended November 30, 2015; Revises Earnings Guidance for the Year 2016
January 06, 2016 at 04:13 pm
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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.
Mistras Group, Inc. is a provider of integrated technology-enabled asset protection solutions. The Companyâs segments include North America, International and Products and Systems. Its North America segment provides asset protection solutions in the United States and Canada, which consists primarily of non-destructive testing, inspection, mechanical and engineering services that are used to evaluate the structural integrity and reliability of critical energy, industrial and public infrastructure and commercial aerospace components. Software, digital and data services are included in this segment. Its International segment offers services, products and systems similar to those of the other segments to select markets within Europe, the Middle East, Africa, Asia and South America. Its Products and Systems segment designs, manufactures, sells, installs and services its asset protection products and systems, including equipment and instrumentation, predominantly in the United States.
Mistras Group, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended November 30, 2015; Revises Earnings Guidance for the Year 2016