$TISI
TEAM INC

2015 Q1 Form 10-Q Financial Statement

#000119312515122977 Filed on April 08, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q1
Revenue $192.4M $163.2M
YoY Change 17.87% 8.12%
Cost Of Revenue $138.4M $121.5M
YoY Change 13.84% 8.44%
Gross Profit $54.04M $41.70M
YoY Change 29.61% 7.21%
Gross Profit Margin 28.09% 25.54%
Selling, General & Admin $46.34M $40.73M
YoY Change 13.8% 6.39%
% of Gross Profit 85.75% 97.67%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.690M $5.285M
YoY Change 7.66% 10.1%
% of Gross Profit 10.53% 12.68%
Operating Expenses $46.34M $40.73M
YoY Change 13.8% 6.39%
Operating Profit $7.699M $1.000M
YoY Change 669.9% 64.2%
Interest Expense -$2.400M -$2.500M
YoY Change -4.0% 66.67%
% of Operating Profit -31.17% -250.0%
Other Income/Expense, Net -$1.179M
YoY Change
Pretax Income $5.579M -$1.528M
YoY Change -465.12% 77.06%
Income Tax $2.213M -$557.0K
% Of Pretax Income 39.67%
Net Earnings $3.306M -$1.010M
YoY Change -427.33% 88.79%
Net Earnings / Revenue 1.72% -0.62%
Basic Earnings Per Share $0.16 -$0.05
Diluted Earnings Per Share $0.15 -$0.05
COMMON SHARES
Basic Shares Outstanding 20.40M shares 20.38M shares
Diluted Shares Outstanding 21.59M shares 21.19M shares

Balance Sheet

Concept 2015 Q1 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $35.60M $39.50M
YoY Change -9.87% 8.52%
Cash & Equivalents $35.44M $39.50M
Short-Term Investments
Other Short-Term Assets $12.30M $11.60M
YoY Change 6.03% -27.04%
Inventory $28.11M $26.30M
Prepaid Expenses
Receivables $172.2M $158.0M
Other Receivables $4.000M $0.00
Total Short-Term Assets $252.1M $235.4M
YoY Change 7.11% 0.56%
LONG-TERM ASSETS
Property, Plant & Equipment $93.12M $85.39M
YoY Change 9.05% 17.78%
Goodwill $108.2M $114.1M
YoY Change -5.2% 8.9%
Intangibles $24.39M
YoY Change -9.33%
Long-Term Investments
YoY Change
Other Assets $548.0K $974.0K
YoY Change -43.74% -65.63%
Total Long-Term Assets $231.4M $232.1M
YoY Change -0.3% 8.95%
TOTAL ASSETS
Total Short-Term Assets $252.1M $235.4M
Total Long-Term Assets $231.4M $232.1M
Total Assets $483.6M $467.5M
YoY Change 3.43% 4.55%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.45M $20.42M
YoY Change 5.06% 29.19%
Accrued Expenses $36.50M $39.30M
YoY Change -7.12% 3.69%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.800M
YoY Change
Total Short-Term Liabilities $61.05M $60.61M
YoY Change 0.73% 9.71%
LONG-TERM LIABILITIES
Long-Term Debt $86.45M $83.60M
YoY Change 3.4% -6.13%
Other Long-Term Liabilities $3.063M $5.389M
YoY Change -43.16% -19.1%
Total Long-Term Liabilities $89.51M $88.99M
YoY Change 0.58% -7.03%
TOTAL LIABILITIES
Total Short-Term Liabilities $61.05M $60.61M
Total Long-Term Liabilities $89.51M $88.99M
Total Liabilities $166.2M $165.0M
YoY Change 0.73% -0.92%
SHAREHOLDERS EQUITY
Retained Earnings $226.7M $190.1M
YoY Change 19.27% 9.88%
Common Stock $6.237M $6.132M
YoY Change 1.71% -0.7%
Preferred Stock
YoY Change
Treasury Stock (at cost) $21.14M
YoY Change
Treasury Stock Shares 547.0K shares 0.000 shares
Shareholders Equity $311.5M $296.9M
YoY Change
Total Liabilities & Shareholders Equity $483.6M $467.5M
YoY Change 3.43% 4.55%

Cashflow Statement

Concept 2015 Q1 2014 Q1
OPERATING ACTIVITIES
Net Income $3.306M -$1.010M
YoY Change -427.33% 88.79%
Depreciation, Depletion And Amortization $5.690M $5.285M
YoY Change 7.66% 10.1%
Cash From Operating Activities $9.905M $19.30M
YoY Change -48.68% 4.32%
INVESTING ACTIVITIES
Capital Expenditures $7.648M $10.14M
YoY Change -24.57% 64.89%
Acquisitions $0.00
YoY Change
Other Investing Activities -$98.00K $180.0K
YoY Change -154.44% -71.43%
Cash From Investing Activities -$7.930M -$9.960M
YoY Change -20.38% 80.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $21.14M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -17.82M -5.010M
YoY Change 255.69% -53.35%
NET CHANGE
Cash From Operating Activities $9.905M 19.30M
Cash From Investing Activities -7.930M -9.960M
Cash From Financing Activities -17.82M -5.010M
Net Change In Cash $9.905M 4.330M
YoY Change 128.75% 92.44%
FREE CASH FLOW
Cash From Operating Activities $9.905M $19.30M
Capital Expenditures $7.648M $10.14M
Free Cash Flow $2.257M $9.161M
YoY Change -75.36% -25.83%

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dei Document Type
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dei Entity Registrant Name
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TEAM INC
dei Trading Symbol
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TISI
us-gaap Error Corrections And Prior Period Adjustments Description
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The Company has revised its previously reported condensed consolidated statement of cash flows for an immaterial error associated with the classification of deferred consideration payments associated with our acquisition of TCI Services, Inc. in September 2012. The revision resulted in a $1 million increase in cash flows from operating activities and a corresponding decrease in cash flows from financing activities and had no impact on the Company's financial position or net income for the periods impacted.
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