Team, Inc. Reports Higher 2nd Qtr Earnings

Team, Inc., TISI today reported second quarter revenues of $133.1 million, an increase of $9.8 million or 8% compared to the second quarter of last year. Net income available to common shareholders for the second quarter was $8.1 million ($0.41 per diluted share). Adjusted net income available to common shareholders, a non-GAAP measure defined in the table below, was $8.4 million ($0.43 per diluted share) in the current quarter versus $6.6 million ($0.34 per diluted share) in the prior year quarter, a 28% improvement.