Mistras Group Q3 Results Miss Estimates

(RTTNews) - Mistras Group, Inc. (MG) reported net income for the third quarter of $1.8 million or $0.06 per share, compared to $1.2 million or $0.04 per share for the year-ago quarter.

Excluding acquisition-related items, adjusted net income for the third quarter was $0.2 million or $0.01 per share, compared to $1.8 million or $0.06 per share in the prior year's third quarter.

Revenues for the third quarter rose 7.5% to $163.10 million from $151.73 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.10 per share on revenue of $168.77 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward, the company said it now expects its fiscal year 2015 to fall at the low end of its $720 million to $740 million guidance range. Analysts currently expect the company to post revenue of $736.86 million for the fiscal year 2015.