Team, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended November 30, 2012. For the quarter, the company reported revenues of $200.648 million, operating income of $23.040 million, earnings before income taxes of $22.249 million, net income of $14.017 million, net income available to common shareholders of $13.936 million or $0.66 per diluted share compared to the revenues of $158.273 million, operating income of $17.080 million, earnings before income taxes of $16.620 million, net income of $10.388 million, net income available to common shareholders of $10.342 million or $0.50 per diluted share for the same quarter year ago. Adjusted net income was $13.936 million or $0.66 per diluted share compared to the $10.842 million or $0.53 per diluted share for the same quarter year ago. Adjusted EBIT was $23.040 million compared to the $17.880 million for the same quarter year ago. Adjusted EBITDA was $29.358 million compared to the $23.531 million for the same quarter year ago. Capital expenditures for the quarter were $6.9 million.

For the six months period, the company reported revenues of $362.140 million, operating income of $35.864 million, earnings before income taxes of $34.400 million, net income of $21.672 million, net income available to common shareholders of $21.497 million or $1.03 per diluted share compared to the revenues of $299.366 million, operating income of $28.835 million, earnings before income taxes of $27.521 million, net income of 17.201 million, net income available to common shareholders of $17.136 million or $0.83 per diluted share for the same period year ago. Adjusted net income was $21.497 million or $1.03 per diluted share compared to the $17.636 million or $0.86 per diluted share for the same period year ago. Adjusted EBIT was $35.864 million compared to the $29.635 million for the same period year ago. Adjusted EBITDA was $47.638 million compared to the $40.590 million for the same period year ago. At November 30, net debt was $71 million.

The company is raising its previously issued earnings guidance for fiscal year 2013 by $0.05 per share to a revised range of $1.90 to $2.05 per diluted share and company now expect full fiscal year revenues to be $700 million to $730 million.