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TEAM, INC. REPORTS RESULTS OF OPERATIONS FOR THE THIRD QUARTER OF FISCAL 1992

 TEAM, INC. REPORTS RESULTS OF OPERATIONS FOR
 THE THIRD QUARTER OF FISCAL 1992
 HOUSTON, April 1 /PRNewswire/ -- Team, Inc. (AMEX: TMI) today announced third quarter results for the period ended Feb. 29, 1992. Revenues for the quarter were $27,447, 000 compared to $23,867,000 reported for the same period last year. Pre-tax earnings were $52,000 for the quarter compared to a pre-tax loss of $661,000 for the same quarter last year. The company incurred a tax expense of $214,000 for the quarter as a result of federal and state income taxes, including the new Texas franchise tax, which, in addition to taxes based on net taxable capital, now includes a component that taxes a corporation's income. This resulted in a net loss for the quarter of $162,000, or $.03 per share compared to a net loss of $450,000, or $.09 per share for the third quarter of fiscal 1991. For the nine-month period, revenues and net earnings were $82,295, 000 and $759,000, respectively, compared to $76,080,000 and $1,882,000 for the same nine-month period last year.
 "We are feeling the effects of this recession through cutbacks in our customers' budgets and through pricing pressures from our competitors," commented H. Wesley Hall, president and chairman of the board. "This, along with the uncertainty caused by ongoing changes in regulatory requirements, has resulted in many of our customers temporarily postponing the performance of services related to future Clean Air Act regulations until those regulations become more determinable. In addition to the recessionary pressures, the unseasonably warm winter months resulted in decreased demand for our leak sealing services while the unusually high amount of rainfall during the quarter adversely effected both our transportation and infrastructure divisions. Fortunately, these problems are short-term, and we have already begun to see an increased demand for our services."
 Team, Inc. is a national service company providing environmental engineering and monitoring services to America's industrial facilities and repair and maintenance services to the public and private infrastructure. Headquartered in Houston, the company has 62 operating locations in 24 states and serves the international market through licensee arrangements in 12 countries.
 SUMMARY OF OPERATING RESULTS
Three Months Ended: Feb. 29, 1992 Feb. 28, 1991
Revenues $ 27,447,000 $ 23,867,000
Pre-tax earnings (loss) $ 52,000 $ (661,000)
Net earnings (loss) $ (162,000) $ (450,000)


Earnings (loss) per share Primary

Earnings (loss) per
 share $ (.03) $ (.09)


Weighted average
 shares 5,223,000 4,784,000


Fully diluted

Earnings (loss) per
 share $ (.03) $ (.09)


Weighted average
 shares 5,223,000 4,785,000
Nine Months Ended: Feb. 29, 1992 Feb. 28, 1991
Revenues $ 82,295,000 $ 76,080,000
Pre-tax earnings $ 1,831,000 $ 3,142,000
Net earnings $ 759,000 $ 1,882,000


Earnings per share Primary
 Earnings per share $ .15 $ .40
 Weighted average shares 5,047,000 4,731,000


Fully diluted
 Earnings per share $ .15 $ .40
 Weighted average shares 5,047,000 4,733,000
 -0- 4/01/92
 /CONTACT: Russell G. Donham, treasurer of Team, Inc., 713-659-3600/
 (TMI) CO: Team, Inc. ST: Texas IN: SU: ERN


TQ -- NY078 -- 3976 04/01/92 15:12 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Apr 1, 1992
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