Team Inc. announces fiscal year 2012 earnings

Team Inc. announced a record year in revenue and earnings for 2012.

The company's earnings, adjusted for non-routine items, increased 37 percent, reaching $34.5 million in 2012, compared to $25.2 million in fiscal year 2011, according to a July 31 Team Inc. news release.

"We are pleased with and proud of the continued attractive development of our business this year as well as for the past decade," Chairman and CEO Phil Hawk said in the release. "Over both time periods, we have achieved similar attractive growth rates." The company also reported a total revenue growth of $116 million and a 20 percent organic revenue growth.

Team Inc. says it predicts revenues for the next fiscal year, which ends May 31, 2013, to climb as high as $680 million to $700 million, and that fully diluted shares could be worth $1.85 to $2.00 each.

The company, which specializes in providing services to petrochemical, power and other heavy industries, trades on the New York Stock Exchange under the ticker symbol "TISI."

To read Team Inc.'s proxy statement, or other financial filings, visit the Securities and Exchange Commission website, located at sec.gov/edgar.shtml.

For more information about the company and its services, visit investor.teaminc.com/releases.cfm.