Team (TISI) Tops Q4 EPS by 1c

Team (NYSE: TISI) reported Q4 EPS of $0.77, $0.01 better than the analyst estimate of $0.76. Revenue for the quarter came in at $238.7 million versus the consensus estimate of $237.57 million.

"We are very delighted with our record operating performance in fiscal 2015 and I appreciate the collective efforts of our global organization in achieving this milestone," said Ted Owen, Team's President and Chief Executive Officer."Looking forward, we are optimistic and encouraged about the opportunities to continue our organic revenue and earnings growth in fiscal 2016 and, when coupled with the recent acquisition of the Qualspec Group, believe fiscal 2016 will be another record year for Team."

FY2016 Business Outlook

As a result of the recent acquisition of Qualspec Group (Qualspec) we are unable to provide a specific budget target for fiscal year 2016 earnings per share due to pending purchase accounting valuations that will have an impact on our annual depreciation and amortization expense targets. At this time, we expect our consolidated budgeted revenues and EBITDA to be approximately $1.1 billion and $135 million, respectively. These estimates include approximately 11 months of Qualspec operating activity, and exclude non-routine implementation expenses related to the ERP project during the course of the year.

We expect to finalize our fiscal 2016 adjusted EPS target during the first quarter of the year and will announce that budget target in connection with our first quarter earnings call in early October 2015.

For earnings history and earnings-related data on Team (TISI) click here.

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