Team Q1 Profit Down, Cuts FY14 Outlook - Quick Facts

(RTTNews) - Team, Inc. (TISI) Tuesday reported first-quarter earnings of $4.48 million, down from $7.66 million in the same period last year.

Net income available to common shareholders dropped to $4.51 million or $0.21 per share from $7.56 million or $0.36 per share last year.

On average, seven analysts polled by Thomson Reuters expected the company to earn $0.36 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues totaled $174.31 million, up from $161.49 million last year. Analysts expected revenues of $176.70 million. Looking ahead, the company has lowered its earnings guidance to a range of $1.55 to $1.85 per share, from is previous guidance range of $1.70 to $1.85 per share.

Revenues are currently projected in a range of $765 million to $790 million, up from $700 million to $730 million, issued previously. Analysts currently expect the company to report full-year earnings of $2.00 per share on revenues of $793.08 million.