Team Rises on Solid Earnings, Increased Guidance

Shares of Team

are trading higher in the after-hours following the release of the company's Q2 earnings results. Currently, shares are higher by 1.67%, trading at $30.40; they ended the regular session higher by 0.50%, at $29.90. Team reported Q2 EPS of $0.50 on revenues of $158.3 million. Revenues increased 19% year over year. Reflecting first half results and a continuing positive outlook for its business, Team is raising its full year adjusted earnings guidance to $1.55 to $1.70 per fully diluted share for the fiscal year ending May 31, 2012 (an increase over prior guidance of $0.10 per diluted share). Earnings guidance is based on the expectation that revenues for the full fiscal year will be $585-610 million. "We are pleased with our performance this quarter and year to date, particularly the continued broad based growth of our business," said Phil Hawk, Team's Chairman and Chief Executive Officer. "Looking ahead, we expect continued business growth, building upon the positive momentum generated over the past several quarters." Team, Inc. is a provider of specialty maintenance and construction services required in maintaining high temperature and high pressure piping systems and vessels utilized in the heavy industries.