mistras group inc (MG) Key Developments
Mistras Group, Inc. Presents at 16th Annual Capital Link Invest in Greece Forum: "Invest for Growth", Dec-01-2014 08:50 AM
Nov 28 14
Mistras Group, Inc. Presents at 16th Annual Capital Link Invest in Greece Forum: "Invest for Growth", Dec-01-2014 08:50 AM. Venue: The Metropolitan Club, One East 60th St., New York, United States. Speakers: Sotirios J. Vahaviolos, Founder, Chairman, Chief Executive Officer and President.
Mistras Group, Inc. Enters into Third Amendment and Modification Agreement
Nov 4 14
On October 31, 2014, Mistras Group, Inc. entered into a Third Amendment and Modification Agreement, dated October 31, 2014, to the Third Amended and Restated Credit Agreement, dated December 21, 2011, with Bank of America, N.A., and JPMorgan Chase Bank, N.A., Keybank, National Association and TD Bank, N.A., as lenders. The Amendment increased the company's revolving line of credit to $175 million and provides that under certain circumstances the line of credit can be increased by up to $50 million, for a total potential line of credit of $225 million. The Amendment also extended the original maturity date of the Credit Agreement from December 20, 2016 to October 30, 2019. Interest rates on loans under the Credit Agreement remain the same, except if the company's Funded Debt Leverage Ratio exceeds 2.5 to 1, the maximum rate is now LIBOR plus 1.75% (previously Libor plus 2.0%), or the base rate less .35% (previously base rate less 0.25%). In addition, the Amendment modified the financial covenant for Funded Debt Leverage Ratio by increasing the maximum permitted ratio to 3.25 to 1 from the previous ratio of 3.0 to 1.
Mistras Group, Inc. Presents at Stephens Inc. Fall Investment Conference 2014, Nov-11-2014 02:00 PM
Oct 23 14
Mistras Group, Inc. Presents at Stephens Inc. Fall Investment Conference 2014, Nov-11-2014 02:00 PM. Venue: New York Palace Hotel, 455 Madison Avenue, New York, New York, United States.
Mistras Group, Inc. Announces Unaudited Consolidated Financial Results for the First Quarter Ended August 31, 2014; Provides Earnings Guidance for the Full Year of 2015
Oct 7 14
Mistras Group, Inc. announced unaudited consolidated financial results for the first quarter ended August 31, 2014. For the quarter, the company reported total revenues of $166,573,000 compared with $135,838,000 for the same period a year ago. Income from operations was $3,664,000 compared with $9,575,000 for the same period a year ago. Income before provision for income taxes was $2,759,000 compared with $8,830,000 for the same period a year ago. Net income attributable to the company was $1,666,000 or $0.06 per diluted share compared with $5,641,000 or $0.19 per diluted share for the same period a year ago. Net cash provided by operating activities was $14,515,000 against $11,538,000 a year ago. EBITDA was $11,938,000 against $16,346,000 a year ago. Adjusted EBITDA was $13,144,000 against $15,793,000 a year ago. Diluted EPS excluding acquisition-related items (non-GAAP) was $0.04 against $0.14 a year ago. The company used $3.8 million of cash for capital expenditures and also made noncash outlays to lease $2 million of capital equipment. The company's free cash flow, defined as cash provided by operations less cash used by capital expenditures, was $10.7 million before the net use of cash for acquisitions of $36.8 million.
The company expects that NACHER will add approximately $25 million to its revenues during fiscal year 2015, which increases total revenues expected for fiscal year 2015 to a range of from $705 million to $730 million, representing growth of 13% to 17% over prior year. The company is maintaining its expected range of adjusted EBITDA of $78 million to $84 million, representing an increase of from 11% to 20%, with most of the increase occurring in the second half of its fiscal year. The company expects that the EBITDA generated by the NACHER acquisition will offset the shortfall experienced in the first quarter.
Mistras Group, Inc. to Report Q1, 2015 Results on Oct 07, 2014
Sep 23 14
Mistras Group, Inc. announced that they will report Q1, 2015 results at 5:00 PM, Eastern Standard Time on Oct 07, 2014