Mistras Group, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 04:01 pm EDT
Mistras Group, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 176.03 million compared to USD 179.03 million a year ago. Net income was USD 0.337 million compared to USD 4.64 million a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to USD 0.15 a year ago. Diluted earnings per share from continuing operations was USD 0.01 compared to USD 0.15 a year ago.
For the six months, sales was USD 344.05 million compared to USD 340.69 million a year ago. Net loss was USD 4.65 million compared to USD 0.72 million a year ago. Basic loss per share from continuing operations was USD 0.15 compared to USD 0.02 a year ago. Diluted loss per share from continuing operations was USD 0.15 compared to USD 0.02 a year ago.
Mistras Group, Inc. is a provider of integrated technology-enabled asset protection solutions. The Company's segments include Services, International and Products and Systems. The Services segment provides asset protection solutions in North America with a concentration on the United States along with a Canadian services business, consisting of non-destructive testing, inspection, mechanical and engineering services. The International segment offers services products and systems to select markets in Europe, the Middle East, Africa, Asia and South America. The Products and Systems segment designs, manufactures, sells, installs and services its asset protection products and systems, including equipment and instrumentation are primarily in the United States. The Company is integrating asset protection throughout supply chains and centralizing integrity data through a suite of Industrial Internet of things (IIoT) connected digital software and monitoring solutions, including OneSuite.