Team (TISI) Posts Q4 EPS of $0.31, Shy of Views; Guides FY11 Revs and EPS; Authorizes $15M Stock Buyback

August 3, 2010 5:03 PM EDT
Team (Nasdaq: TISI) reports Q4 EPS of $0.31, versus the analyst estimate of $0.34. Revenue for the quarter was $125.5 million, which compares to the estimate of $128.07 million.

Sees FY11 revs of $470 - $500 million and an EPS of $1.00 - $1.15. Consensus sees revs of $456.43 million and an EPS of $0.83.

Team's Board of Directors has authorized management to repurchase, in open market transactions, up to $15 million of Team common stock effective immediately. Based upon the current market share price, the stock repurchase plan represents approximately 5% of Team's issued and outstanding shares.

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