Team Q3 Earnings Meet Views

reported in-line earnings for the third quarter on Tuesday. The Sugar Land, Texas-based company posted quarterly net income of $0.3 million, or $0.01 per share, versus a year-ago net loss of $1.0 million, or $0.05 per share. Its adjusted earnings for the latest quarter came in at $0.11 per share, compared to adjusted earnings of $0.01 per share. Its revenue rose 7 percent to $174.6 million from $163.2 million. However, analysts were expecting earnings of $0.11 per share on revenue of $183.3 million. Adjusted EBITDA climbed 55 percent to $11.3 million for the the latest quarter. "We are pleased with our operating performance and progress," said Ted Owen, Team's President and Chief Executive Officer. "We remain on track to achieve our budgeted adjusted earnings of $2.00 per diluted share, which would be a 35% increase in year over year earnings and a record performance for Team." Team reaffirmed FY15 adjusted earnings of $2 per share, versus analysts' estimates of $2.01 per share. The average estimate among 7 Estimize users was for earnings of $0.11 per share and revenue of $182.91 million for the third quarter. Team shares fell 1.50 percent to $39.35 in the after-hours trading session.