Team Inc. (TISI, Financial) filed Quarterly Report for the period ended 2011-11-30.
Team Inc. has a market cap of $603.7 million; its shares were traded at around $30.93 with a P/E ratio of 22.5 and P/S ratio of 1.1. Team Inc. had an annual average earning growth of 12.6% over the past 10 years. GuruFocus rated Team Inc. the business predictability rank of 2.5-star.
Selling, General And Administrative Expenses. Our SG&A expenses for the three months ended November 30, 2011 were $33.8 million compared to $30.2 million for the three months ended November 30, 2010, an increase of $3.6 million or 12%. The increase in SG&A primarily is related to compensation and insurance related costs supporting organic revenue growth and the addition of Quest. SG&A in the current period includes a non-routine $0.8 million pre-tax legal settlement related to resolution of a long outstanding personal injury matter, and in the prior year period includes $0.6 million of non-routine expense related to the Quest acquisition. SG&A expenses as a percentage of revenue, was 21% for the three months ended November 30, 2011 compared to 23% for the three months ended November 30, 2010.
Taxes. The provision for income tax was $6.2 million on pre-tax income of $16.6 million for the three months ended November 30, 2011 compared to the provision for income tax which was $5.4 million on pre-tax income of $13.4 million for the three months ended November 30, 2010. The effective tax rate for the three months ended November 30, 2011 was 38% compared to 40% for the three months ended November 30, 2010. The decrease in the effective tax rate is primarily due to the realized tax benefits of equity compensation transactions in the current period and a change in the mix of foreign and domestic income. In general, the tax rates applicable to our foreign income are less than domestic tax rates and foreign earnings in the current period were substantially higher than the prior period.
Revenues. Our revenues for the six months ended November 30, 2011 were $299.4 million compared to $237.6 million for the six months ended November 30, 2010, an increase of $61.8 million or 26%. Revenues for our TCM division (inclusive of Quest) for the six months ended November 30, 2011 were $168.0 million compared to $132.5 million for the six months ended November 30, 2010, an increase of $35.5 million or 26%. Teams recent acquisition, Quest, contributed $17.5 million during the six months ended November 30, 2011 compared to $1.6 million for the six months ended November 30, 2010. (Quest was acquired on November 3, 2010). Organic revenue growth for the TCM division, excluding Quest, was $19.6 million or 15%. Revenues for our TMS division for the six months ended November 30, 2011 were $131.4 million compared to $105.1 million for the six months ended November 30, 2010, an increase of $26.3 million or 25%. Overall, organic revenue growth was geographically broad based as most regions benefited from new repair and upgrade projects and a return of previously deferred maintenance activities.
Selling, General And Administrative Expenses. Our SG&A expenses for the six months ended November 30, 2011 were $66.9 million compared to $55.4 million for the six months ended November 30, 2010, an increase of $11.5 million or 21%. The increase in SG&A primarily is related to compensation and insurance related costs supporting organic revenue growth and the addition of Quest. SG&A in the current period includes a non-routine $0.8 million pre-tax legal settlement related to resolution of a long outstanding personal injury matter, and in the prior year period includes $0.6 million of non-routine expense related to the Quest acquisition. SG&A expenses as a percentage of revenue, was 22% for the six months ended November 30, 2011 compared to 23% for the six months ended November 30, 2010.
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Team Inc. has a market cap of $603.7 million; its shares were traded at around $30.93 with a P/E ratio of 22.5 and P/S ratio of 1.1. Team Inc. had an annual average earning growth of 12.6% over the past 10 years. GuruFocus rated Team Inc. the business predictability rank of 2.5-star.
Highlight of Business Operations:
Revenues. Our revenues for the three months ended November 30, 2011 were $158.3 million compared to $133.1 million for the three months ended November 30, 2010, an increase of $25.2 million or 19%. Revenues for our TCM division (inclusive of Quest) for the three months ended November 30, 2011 were $91.0 million compared to $73.2 million for the three months ended November 30, 2010, an increase of $17.8 million or 24%. Teams recent acquisition, Quest, contributed $10.1 million during the three months ended November 30, 2011 compared to $1.6 million for the three months ended November 30, 2010. (Quest was acquired on November 3, 2010). Organic revenue growth for the TCM division, excluding Quest, was $9.3 million or 13%. Revenues for our TMS division for the three months ended November 30, 2011 were $67.3 million compared to $60.0 million for the three months ended November 30, 2010, an increase of $7.3 million or 12%. Overall, organic revenue growth was geographically broad based as most regions benefited from new repair and upgrade projects and a return of previously deferred maintenance activities.Selling, General And Administrative Expenses. Our SG&A expenses for the three months ended November 30, 2011 were $33.8 million compared to $30.2 million for the three months ended November 30, 2010, an increase of $3.6 million or 12%. The increase in SG&A primarily is related to compensation and insurance related costs supporting organic revenue growth and the addition of Quest. SG&A in the current period includes a non-routine $0.8 million pre-tax legal settlement related to resolution of a long outstanding personal injury matter, and in the prior year period includes $0.6 million of non-routine expense related to the Quest acquisition. SG&A expenses as a percentage of revenue, was 21% for the three months ended November 30, 2011 compared to 23% for the three months ended November 30, 2010.
Taxes. The provision for income tax was $6.2 million on pre-tax income of $16.6 million for the three months ended November 30, 2011 compared to the provision for income tax which was $5.4 million on pre-tax income of $13.4 million for the three months ended November 30, 2010. The effective tax rate for the three months ended November 30, 2011 was 38% compared to 40% for the three months ended November 30, 2010. The decrease in the effective tax rate is primarily due to the realized tax benefits of equity compensation transactions in the current period and a change in the mix of foreign and domestic income. In general, the tax rates applicable to our foreign income are less than domestic tax rates and foreign earnings in the current period were substantially higher than the prior period.
Revenues. Our revenues for the six months ended November 30, 2011 were $299.4 million compared to $237.6 million for the six months ended November 30, 2010, an increase of $61.8 million or 26%. Revenues for our TCM division (inclusive of Quest) for the six months ended November 30, 2011 were $168.0 million compared to $132.5 million for the six months ended November 30, 2010, an increase of $35.5 million or 26%. Teams recent acquisition, Quest, contributed $17.5 million during the six months ended November 30, 2011 compared to $1.6 million for the six months ended November 30, 2010. (Quest was acquired on November 3, 2010). Organic revenue growth for the TCM division, excluding Quest, was $19.6 million or 15%. Revenues for our TMS division for the six months ended November 30, 2011 were $131.4 million compared to $105.1 million for the six months ended November 30, 2010, an increase of $26.3 million or 25%. Overall, organic revenue growth was geographically broad based as most regions benefited from new repair and upgrade projects and a return of previously deferred maintenance activities.
Selling, General And Administrative Expenses. Our SG&A expenses for the six months ended November 30, 2011 were $66.9 million compared to $55.4 million for the six months ended November 30, 2010, an increase of $11.5 million or 21%. The increase in SG&A primarily is related to compensation and insurance related costs supporting organic revenue growth and the addition of Quest. SG&A in the current period includes a non-routine $0.8 million pre-tax legal settlement related to resolution of a long outstanding personal injury matter, and in the prior year period includes $0.6 million of non-routine expense related to the Quest acquisition. SG&A expenses as a percentage of revenue, was 22% for the six months ended November 30, 2011 compared to 23% for the six months ended November 30, 2010.
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