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TEAM REPORTS RESULTS OF OPERATIONS FOR THE SECOND QUARTER OF FISCAL 1992

 TEAM REPORTS RESULTS OF OPERATIONS
 FOR THE SECOND QUARTER OF FISCAL 1992
 HOUSTON, Dec. 19 /PRNewswire/ -- Team, Inc. (AMEX: TMI) today announced second quarter earnings of $.12 per share fully diluted, up from the $.07 reported for the first quarter of the year. Revenues and net earnings for the quarter were $28,386,000 and $577,000, respectively, down compared to the prior year's level of $28,780,000 and $1,653,000. For the six months revenues were $54,848,000 compared to $52,213,000 for the same period last year. Net earnings for this same period were $921,000 and $2,332,000, respectively. The decline in revenues and profits compared to the same period last year is due mainly to reduced customer maintenance expenditures in the Infrastructure Division and recessionary problems, along with declining natural gas prices, in the Transportation Division.
 "As the economy begins to improve, easing recessionary pressures, and budgeted maintenance expenditures return, we feel that the Infrastructure and Transportation Divisions will be positioned to respond to increased demand in their respective market areas. However, in spite of the decline in two divisions of the company, we were able to report our third consecutive quarterly earnings improvement. We are very pleased with the company's primary business of repair and specialty services where operating margins have improved relative to the two previous quarters. The environmental segment continues to have an extremely positive outlook," stated Team's president and chairman of the board, H. Wesley Hall.
 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.
 TEAM, INC.
 Summary of Operating Results
 Three months ended Nov. 30: 1991 1990
 Revenues $28,386,000 $28,780,000
 Pretax earnings 1,185,000 2,685,000
 Net earnings 577,000 1,653,000
 Earnings per share
 Primary
 Earnings per share $0.12 $0.35
 Weighted average shares 5,013,000 4,649,000
 Fully diluted
 Earnings per share $0.12 $0.35
 Weighted average shares 5,013,000 4,649,000
 Six months ended Nov. 30: 1991 1990
 Revenues $54,848,000 $52,213,000
 Pretax earnings 1,779,000 3,804,000
 Net earnings 921,000 2,332,000
 Earnings per share
 Primary
 Earnings per share $0.19 $0.50
 Weighted average shares 4,930,000 4,708,000
 Fully diluted
 Earnings per share $0.19 $0.50
 Weighted average shares 4,930,000 4,708,000
 -0- 12/19/91
 /CONTACT: Russell G. Donham of Team, 713-659-3600/
 (TMI) CO: Team Inc. ST: Texas IN: SU: ERN


TS -- NY053 -- 3931 12/19/91 13:06 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Dec 19, 1991
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