Mistras Q1 Profit Misses Estimate

(RTTNews) - Mistras Group, Inc. (MG) reported net income for the first quarter of $1.7 million or $0.06 per share, compared to $5.6 million or $0.19 per share for the year-ago quarter.

Excluding acquisition-related items, adjusted net income for the first quarter was $1.1 million or $0.04 per share, compared to $4.3 million to $0.14 per share in the prior year quarter.

Revenues for the first quarter increased 23% over last year to $166.6 million.

Analysts polled by Thomson Reuters expected the company to earn $0.12 per share on revenue of $156.54 million for the first quarter. Analysts' estimates typically exlcude special items.

The company expects that NACHER will add about $25 million to its revenues during fiscal year 2015, which increases total revenues expected for fiscal year 2015 to a range of $705 million to $730 million, representing growth of 13% to 17% over prior year. Previously, the company expects its fiscal 2015 revenue to grow by 9% to 13%, to a range of $680 million to $705 million. Analysts currently expect the company to post revenue of $705.46 million for the fiscal year 2015.