Mistras Group, Inc. reported unaudited consolidated financial results for the second quarter and first six months ended November 30, 2016. Revenues for the second quarter of fiscal year 2017 declined by 9% compared with prior year to $176.6 million. Net income for the second quarter of fiscal year 2017 was $7.7 million, 32% below the prior fiscal year’s net income of $11.4 million. Earnings per diluted share for the second quarter of fiscal year 2017 were $0.26 per diluted share, 33% below the prior year’s $0.39 per diluted share. Adjusted EBITDA was $22.3 million, or 12.7% of revenues in the second quarter of fiscal year 2017, 23% below the prior year’s $29.2 million, or 15.0% of revenues. Income from operations was $13.240 million against $19.569 million a year ago. Income before provision for income taxes was $12.312 million against $18.234 million a year ago. Net income attributable to Mistras Group, Inc. $7.731 million against $11.425 million a year ago. The decline was organic, as the negative impact from foreign exchange was offset by a small amount of acquisition-related revenue growth. Services revenues declined 12% compared with prior year, driven by negative organic growth, stemming from the timing of customer projects, shorter duration turnarounds and a lower overall market for NDT spend. International segment revenues grew by 10% as low-teens organic growth was slightly reduced by foreign exchange. Revenues for the first half of fiscal year 2017 declined by 8% compared with prior year to $345.1 million. The company’s revenue declines related mostly to weak North American oil and gas market conditions, as well as the timing of customer project-related spending. In contrast, aerospace and other markets remained positive. Cash flow from operating activities was $26.0 million in the first half of fiscal year 2017, in line with prior year. The company’s net debt (total debt less cash) of $84.1 million was approximately 1.0x adjusted EBITDA at November 30, 2016. Net income for the first half of fiscal year 2017 was $14.4 million, while earnings per diluted share were $0.48, 22% and 23% lower, respectively, than the prior year’s first half. Adjusted EBITDA was $43.5 million, or 12.6% of revenues in the first half of fiscal year 2017, 16% below the prior year’s $51.5 million, or 13.8% of revenues. Income from operations was $24.396 million against $32.501 million a year ago. Income before provision for income taxes was $22.648 million against $29.244 million a year ago. Net income attributable to Mistras Group, Inc. $14.327 million against $18.297 million a year ago. Total capital expenditures in the first 6 months fiscal year 2017, including noncash capital lease outlays, were $9.2 million or 2.7% of revenue, in line with the prior year's 2.6%.