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Team Inc (TISI.N)

TISI.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Team ‍Expands Size Of Board From Six To Seven Members​
Tuesday, 16 Jan 2018 05:13pm EST 

Jan 16 (Reuters) - Team Inc ::TEAM INC SAYS ‍EXPANDED SIZE OF BOARD FROM SIX TO SEVEN MEMBERS - SEC FILING​.  Full Article

Team Names Amerino Gatti As CEO
Tuesday, 16 Jan 2018 04:30pm EST 

Jan 16 (Reuters) - Team Inc ::TEAM, INC. NAMES AMERINO GATTI AS CEO.TEAM INC - GARY YESAVAGE, WHO HAS SERVED AS TEAM'S INTERIM CEO SINCE SEPTEMBER 2017, WILL CONTINUE TO SERVE ON BOARD OF DIRECTORS.  Full Article

Team, Inc. reports third quarter 2017 results
Monday, 6 Nov 2017 07:34pm EST 

Nov 6 (Reuters) - Team Inc :Team, Inc. reports third quarter 2017 results.Q3 adjusted non-GAAP loss per share $0.38 excluding items.Q3 loss per share $2.80.Q3 revenue $285.1 million versus I/B/E/S view $283.3 million.Q3 earnings per share view $-0.18 -- Thomson Reuters I/B/E/S.  Full Article

Team Inc announces leadership changes
Monday, 18 Sep 2017 08:00am EDT 

Sept 18 (Reuters) - Team Inc :Says Gary G. Yesavage appointed interim CEO.Says CEO Ted W. Owen resigned.Says Owen resigned from the board.Team Inc - ‍company undertakes search for permanent CEO​.Team Inc - ‍board is continuing review of company's operating plan, including company's transaction integration process​.Team Inc - ‍expects cost reduction initiatives to be in addition to program to reduce annual operating expense run rate by approximately $30 million​.  Full Article

Team Inc reports second quarter 2017 results
Monday, 7 Aug 2017 04:44pm EDT 

Aug 7 (Reuters) - Team Inc :Q2 adjusted non-GAAP loss per share $0.23 excluding items.Q2 loss per share $0.37.Q2 earnings per share view $-0.05 -- Thomson Reuters I/B/E/S.Q2 revenue $312.3 million versus I/B/E/S view $314.9 million.  Full Article

Team Inc upsizes offering, prices $200 million of 5 percent convertible senior notes due 2023
Wednesday, 26 Jul 2017 01:01am EDT 

July 26 (Reuters) - Team Inc - :Team Inc upsizes offering, prices $200 million of 5 percent convertible senior notes due 2023.Agreed to sell to initial purchasers in a private offering $200 million principal amount of its 5.00 percent convertible senior notes due 2023.Size of offering was increased by $25 million from previously announced offering size of $175 million principal amount of notes.  Full Article

Team announces offering of $175 mln in convertible senior notes due 2023
Monday, 24 Jul 2017 04:57pm EDT 

July 24 (Reuters) - Team Inc ::Team Inc announces offering of $175 million in convertible senior notes due 2023.Team Inc - to use net proceeds from sale of notes to repay all outstanding borrowings under term loan portion its banking credit facility.Team Inc - notes are expected to mature on august 1, 2023.  Full Article

Team Inc sees Q2 revenue of about $310 mln
Monday, 24 Jul 2017 04:51pm EDT 

July 24 (Reuters) - Team Inc ::Sees q2 revenue $310 million versus i/b/e/s view $342.6 million.Team, inc. Pre-Announces preliminary second quarter 2017 results.Team inc - preliminary q2 operating loss will be in range of a $7 million loss to a $9 million loss compared to operating income of $14 million in prior year quarter.Team inc says q2 revenues will be approximately $310 million compared to $336 million in prior year comparable quarter.Continue to operate in a sluggish demand environment due to continuing soft end markets coupled with customer spending deferrals.Team inc - ‍negotiated amendment to credit agreement conditioned upon completion of financing transaction with net proceeds not less than $150 million​.Team -amendment will, among other things, eliminate maximum total leverage covenants through remainder of 2017, reduce revolving commitment to $300 million.Team inc - ‍in addition to reducing discretionary spending, to eliminate certain employee positions​.Resulting severance charges, which will be recorded in q3 of 2017, are expected to be approximately between $4 million to $6 million.Team inc -negotiated amendment to credit agreement primarily conditioned upon completion of financing transaction with net proceeds of not less than $150 million.Team inc - actions being taken are expected to ultimately reduce co's annual operating expense run rate by about $30 million.Team inc - ‍will continue to take direct actions to reduce overall cost structure of company​.  Full Article

Team Inc Q1 loss per share $0.32
Tuesday, 9 May 2017 05:57pm EDT 

May 9 (Reuters) - Team Inc :Team Inc reports first quarter 2017 results.Q1 adjusted non-GAAP loss per share $0.24 excluding items.Q1 loss per share $0.32.Q1 revenue $286.6 million versus I/B/E/S view $290.3 million.Q1 earnings per share view $0.02 -- Thomson Reuters I/B/E/S.Says "January 2017, reflected a continuation of softer than usual market demand conditions we had experienced for all of 2016".Says "in February and march, we began to see seasonal improvement in demand that we were expecting".  Full Article

Team Inc reports Q4 loss per share of $0.32
Tuesday, 7 Mar 2017 04:48pm EST 

Team Inc : Reports fourth quarter and full year 2016 results . Q4 adjusted earnings per share $0.08 excluding items . Q4 loss per share $0.32 . Q4 revenue $319.8 million versus I/B/E/S view $344.8 million . Q4 earnings per share view $0.44 -- Thomson Reuters I/B/E/S . "Until we begin to see a sustained pattern of market normalization, we will continue to withhold earnings guidance for 2017" . "In spite of soft demand in 2016, we continue to be optimistic that end markets will improve during 2017" . "After brief spike in demand for our services during first month of Q4, demand weakened again in November and December" ."Disappointed in our results for quarter", especially after seeing increased demand levels during fall turnaround months of Sept and Oct.  Full Article

BRIEF-Team Names Amerino Gatti As CEO

* TEAM INC - GARY YESAVAGE, WHO HAS SERVED AS TEAM'S INTERIM CEO SINCE SEPTEMBER 2017, WILL CONTINUE TO SERVE ON BOARD OF DIRECTORS Source text for Eikon: Further company coverage: