Team Inc. (TISI, Financial) filed Quarterly Report for the period ended 2008-11-30.
TEAM INC. is a professional full service provider of environmental engineering consulting monitoring and repair services. Environmental engineering consulting and monitoring services primarily in air quality together with on-stream leak repair and related industrial services for piping systems and process equipment are provided by subsidiaries of the Company through its Environmental Services business segment. Team Inc. has a market cap of $491.6 million; its shares were traded at around $26.94 with a P/E ratio of 20 and P/S ratio of 1.03. Team Inc. had an annual average earning growth of 27.5% 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 for the three months ended November 30, 2008 was $32.1 million compared to $27.3 million for the three months ended November 30, 2007, an increase of $4.8 million or 18%. Approximately $3.8 million of the increase in SG&A was due to field operations and $1.0 million of the increase was due to centralized corporate support costs. The $1.0 million increase in corporate support costs in the current period included a $0.6 million increase in share-based employee compensation
Index to Financial Statements margin as a percentage of revenue was 33% for the six months ended November 30, 2008 and 2007. Gross margin for our TCM division for the six months ended November 30, 2008 was $43.5 million compared to $40.3 million for the six months ended November 30, 2007, an increase of $3.2 million or 8%. Gross margin for our TMS division (inclusive of LRS) was $45.7 million for the six months ended November 30, 2008 compared to $33.9 million for the period ended November 30, 2007, an increase of $11.8 million or 35%.
Selling, General, and Administrative Expenses. Our SG&A for the six months ended November 30, 2008 was $61.8 million compared to $51.8 million for the six months ended November 30, 2007, an increase of $10.0 million or 19%. Approximately $7.5 million of the increase in SG&A was due to field operations and $2.4 million of the increase was due to centralized corporate support costs. The $2.4 million increase in corporate support costs in the current period included a $1.2 million increase in share-based employee compensation expense and $0.7 million of costs directly attributable to hurricane (damages and repairs). SG&A as a percentage of revenue was 23% for the six months ended November 30, 2008, consistent with the six months ended November 30, 2007.
Cashflows Attributable to Our Investing Activities. For the six months ended November 30, 2008, cash used in investing activities was $10.4 million, consisting primarily of $1.5 million to fund our Alaska joint venture and $9.0 million of capital expenditures. Capital expenditures can vary depending upon specific customer needs that may arise unexpectedly. We anticipate capital expenditures for the fiscal year 2009 to be approximately $15 million to $20 million.
Cashflows Attributable to Our Financing Activities. For the six months ended November 30, 2008, cash provided by financing activities was $9.1 million. Borrowings under the Credit Facility and Canadian Line of Credit provided $10.3 million of cash and $1.7 million was provided by the issuance of our common stock in connection with our stock option compensation plans and was offset by $3.1 million in principal payments under our Credit Facility and other financings.
Read the The complete ReportMore on TISI:
Gurus buys and sells of TISI
10-year financial history of TISI.
Insider buys/sells of TISI.
TEAM INC. is a professional full service provider of environmental engineering consulting monitoring and repair services. Environmental engineering consulting and monitoring services primarily in air quality together with on-stream leak repair and related industrial services for piping systems and process equipment are provided by subsidiaries of the Company through its Environmental Services business segment. Team Inc. has a market cap of $491.6 million; its shares were traded at around $26.94 with a P/E ratio of 20 and P/S ratio of 1.03. Team Inc. had an annual average earning growth of 27.5% over the past 10 years. GuruFocus rated Team Inc. the business predictability rank of 2.5-star.
Highlight of Business Operations:
Gross Margin. Our gross margin for the three months ended November 30, 2008 was $50.1 million compared to $41.9 million for the three months ended November 30, 2007, an increase of $8.2 million or 20%. Gross margin as a percentage of revenue was 34% for the three months ended November 30, 2008 and 2007. Gross margin for our TCM division for the three months ended November 30, 2008 was $23.5 million compared to $23.4 million for the three months ended November 30, 2007, an increase of approximately $0.1 million. Gross margin for our TMS division (inclusive of LRS) was $26.6 million for the three months ended November 30, 2008 compared to $18.5 million for the three months ended November 30, 2007, an increase of $8.1 million or 44%.Selling, General, and Administrative Expenses. Our SG&A for the three months ended November 30, 2008 was $32.1 million compared to $27.3 million for the three months ended November 30, 2007, an increase of $4.8 million or 18%. Approximately $3.8 million of the increase in SG&A was due to field operations and $1.0 million of the increase was due to centralized corporate support costs. The $1.0 million increase in corporate support costs in the current period included a $0.6 million increase in share-based employee compensation
Index to Financial Statements margin as a percentage of revenue was 33% for the six months ended November 30, 2008 and 2007. Gross margin for our TCM division for the six months ended November 30, 2008 was $43.5 million compared to $40.3 million for the six months ended November 30, 2007, an increase of $3.2 million or 8%. Gross margin for our TMS division (inclusive of LRS) was $45.7 million for the six months ended November 30, 2008 compared to $33.9 million for the period ended November 30, 2007, an increase of $11.8 million or 35%.
Selling, General, and Administrative Expenses. Our SG&A for the six months ended November 30, 2008 was $61.8 million compared to $51.8 million for the six months ended November 30, 2007, an increase of $10.0 million or 19%. Approximately $7.5 million of the increase in SG&A was due to field operations and $2.4 million of the increase was due to centralized corporate support costs. The $2.4 million increase in corporate support costs in the current period included a $1.2 million increase in share-based employee compensation expense and $0.7 million of costs directly attributable to hurricane (damages and repairs). SG&A as a percentage of revenue was 23% for the six months ended November 30, 2008, consistent with the six months ended November 30, 2007.
Cashflows Attributable to Our Investing Activities. For the six months ended November 30, 2008, cash used in investing activities was $10.4 million, consisting primarily of $1.5 million to fund our Alaska joint venture and $9.0 million of capital expenditures. Capital expenditures can vary depending upon specific customer needs that may arise unexpectedly. We anticipate capital expenditures for the fiscal year 2009 to be approximately $15 million to $20 million.
Cashflows Attributable to Our Financing Activities. For the six months ended November 30, 2008, cash provided by financing activities was $9.1 million. Borrowings under the Credit Facility and Canadian Line of Credit provided $10.3 million of cash and $1.7 million was provided by the issuance of our common stock in connection with our stock option compensation plans and was offset by $3.1 million in principal payments under our Credit Facility and other financings.
Read the The complete ReportMore on TISI:
Gurus buys and sells of TISI
10-year financial history of TISI.
Insider buys/sells of TISI.
