Tag - Tisi

Skechers USA Inc. (Nasdaq:SKX), American Pacific Corp. (Nasdaq:APFC) and Mercantile Bancorp  (Nasdaq:MBR) are among the new 52-week lows in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Nara Bancorp Inc. (Nasdaq:NARA), TEAM Inc. (Nasdaq:TISI), Abiomed Inc. (Nasdaq:ABMD), Advisory Board Co. (Nasdaq:ABCO), Cutera Inc. (Nasdaq:CUTR) and Hawthorn Bancshares Inc. (Nasdaq:HWBK).

Corporate Executive Board Co. (Nasdaq:EXBD), Yadkin Valley Financial Corp. (Nasdaq:YAVY) and Abiomed Inc. (Nasdaq:ABMD) are among the new 52-week lows in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: First Financial Holdings Inc (Nasdaq:FFCH), Forrester Research Inc (Nasdaq:FORR), Astoria Financial Corp (Nasdaq:AF), TEAM Inc (Nasdaq:TISI), Advisory Board Co (Nasdaq:ABCO) and Hill Rom Holdings Inc (Nasdaq:HRC).

Fisher Communications Inc. (Nasdaq:FSCI), MB Financial Inc. (Nasdaq:MBFI) and National Penn Bancshares Inc. (Nasdaq:NPBC) are among the new 52-week lows in Tuesday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Cabot Corp. (Nasdaq:CBT), TEAM Inc. (Nasdaq:TISI), Astoria Financial Corp. (Nasdaq:AF), MainSource Financial Group Inc. (Nasdaq:MSFG), Cutera Inc. (Nasdaq:CUTR) and Alliance Financial Corp (Nasdaq:ALNC).

Spreading joy up to the maximum and bringing gloom down to the minimum: that’s the goal of Furmanite Corp. (NYSE:FRM). It’s been a profitable mission, too: the industrial services company just reported a pipeline of profits in its second quarter, strength that — barring a global recession — should continue for some time to come.

Dallas, Texas-based Furmanite focuses on maintaining high-pressure piping systems, of which leak sealing is a specialty. Its global technical and field services are for offshore drillers, pipelines, refineries and power generators, as well as chemical and petrochemical plants and other industries.

Furmanite is all about maximizing uptime and keeping downtime to a minimum, accentuating the positive and eliminating — or at least minimizing — the negative. It’s been in the pipe-fixing game for 80 years and is now reaping heady profits as high oil prices encourage capital spending by refiners and as other global industries invest in stressed-out infrastructure. Its strong financial performance is one affirmative; its global presence another.

In the quarter ended June 30, the company doubled earnings per share, reporting $0.21 compared with $0.11 in the previous year’s second quarter.  Revenues rose 21% to $90 million. For fiscal 2008, the average of three analysts puts earnings at $0.59, up 69% from $0.35 in 2007. Revenues are seen at $335.27 million, up 16%.

“In short, the demand for pipeline repair and monitoring services is about as robust as it has ever been,” wrote analyst Richard Nelson of Jesup and Lamont in early August, after the second-quarter results. Nelson raised his target to $12.50 from $10.50 and repeated his “buy” rating. Furmanite settled Friday at $11.56, at the high end of its 52-week range from $7.40 to $13.

Furmanite’s growth enhances its competitiveness and suggests long-term growth is achievable, Nelson said. The company now has 70 service centers worldwide; . . .

NB Capital Corp (Nasdaq:NBD), Horizon Lines (Nasdaq:HRZ) and SureWest Communications (Nasdaq:SURW) are among the biggest percentage gainers in Friday's trading among companies with market capitalizations under $1 billion.

Also included among the results: AngioDynamics Inc (Nasdaq:ANGO), James River Coal Co (Nasdaq:JRCC), Triumph Group (Nasdaq:TGI), TEAM Inc (Nasdaq:TISI), Endwave Corp (Nasdaq:ENWV) and Columbia Banking System Inc (Nasdaq:COLB).

Here are the biggest percentage gainers among small caps:

The Russell 2000 (NYSE:IWM) jumped today on news of better-than-expected economic data and hopes that the credit crunch is ending. The small-cap index rose 22.67 points, or 3.30%, to 710.64. The Dow Jones Industrial Average climbed 391.47 points, or 3.19%, to 12,654.36.

On a year-to-date basis, the Russell 2000 is down 7.23%, while the Dow has shed 4.61% and the S&P 500 is off 6.69%.

Stocks opened in the green and the bulls completely dominated the session on news before the opening that UBS AG (NYSE:UBS) will issue up to $15 billion in new stock and receive help from other banks in order to deal with $19 billion in writedowns stemming from the subprime mortgage mess.

Separately, Lehman Brothers Holdings Inc. (NYSE:LEH) announced before the opening that it will raise a higher-than-expected $4 billion in preferred stock.

Investors took the actions as a sign that the credit crunch is easing.

Among the winners today was small-cap Team Inc. (Nasdaq:TISI), which provides maintenance and construction services for high-temperature piping systems. The Alvin, Texas-based company reported . . .

Team, Inc. (Nasdaq:TISI) CEO Philip Hawk said he is confident the firm’s fourth quarter ending in May will be the firm’s strongest quarter of the year in terms of earnings and revenue. During a midday conference call with analysts and investors, Hawk also said it would be “misguided” to reduce fourth-quarter expectations based on the provider of specialty industrial services’ third-quarter performance.

In a regulatory filing released after Monday’s closing, Team affirmed its 2008 earnings guidance of a range from $1.10 to $1.20 per share. Analysts expect $1.21. Team does not provide quarterly earnings guidance.

“I understand that the analysts who follow us do make quarterly estimates of our performance and that the recently reported results for this quarter are below the consensus estimate,” the chief executive said. “Just as we have discouraged analysts and investors from increasing expectations based on above-Street . . .

Team Inc., (Nasdaq:TISI), which provides maintenance and construction services for high temperature and high pressure piping systems, reported third-quarter earnings after Monday’s close that fell short of the consensus on Wall Street. However, the company’s top-line surged 48% helped in part by its recent Aitec and LRS acquisitions.

Team also reiterated previous guidance, which was a penny below analysts’ consensus. Shares lost 3%, or $0.84, to $26.46 in pre-market trading.

For detailed price information and recent news stories about Team, click TISI.

The Russell 2000 (NYSE:IWM) futures are rising and the small-cap index will open in the green despite news of bank writedowns.

Stocks small and large are poised for a bullish opening on news this morning that Swiss banking giant UBS AG (NYSE:UBS) has announced more writedowns stemming from the subprime mortgage mess.

However, investors are taking that as a good sign because the bank will receive help from four others, an indication that it will get through the current rough patch.

The Russell 2000 generated a modest rally in Monday’s quarter-ending session, finishing the month at a higher level than where it began for the first time since October. For the day, the Russell gained 4.79, or 0.70%, to 687.97.

In this morning’s trading, support comes in at 681, then at 674 and 667. Meanwhile, resistance is at 695, 705 and 714. The ISM Manufacturing Survey at 10:00 a.m. ET could spark some volatility, while vehicle sales will be reported throughout the session.

With the onset of old age, there invariably comes the tweaking of this or the fine-tuning of that, and with industrial infrastructure it is no different. Furmanite Corporation (NYSE: FRM) and Team, Inc. (Nasdaq: TISI) are capitalizing on the growth opportunities in this sector by providing the repair services that keep it operating.

Refineries and power generation plants worldwide are operating at record high utilization rates to keep pace with rising demand. These plants suffer from frequent leaks and breakdowns because of overworked, poorly maintained equipment. In North American alone, the market for on-stream leak repairs consists of more than 10,000 plants and represents a $2.5 billion annual market opportunity. Demand is stable since repair services are considered a “necessary evil” and performed regardless of plant profit margins.  

One company performing the necessary evil is Furmanite, a provider of on-site repair of leaks in valves, pipes and other flow process system components. In addition to leak repair, Furmanite provides hot tapping services, fugitive emissions monitoring, passive fire protection, concrete repair, heat exchanger design, manufacturing design and repair and diagnostic services for valves and motors.

Formerly known as Xanser Corp., the company took the name of its principal subsidiary, Furmanite, in May 2007.

Furmanite’s customers come from the offshore drilling, refinery and power generation, chemical and petrochemical, pipeline, steel-making, automotive, pulp and paper, food and beverage processing, semiconductor and pharmaceutical manufacturing industries. The company operates from 50 locations across five continents.

Team, Inc. (Nasdaq: TISI) CEO Phil Hawk said the industrial maintenance company is raising its fiscal 2008 revenue and earnings guidance. Hawk made the comments during a midday conference call.

“Due to the strong results achieved during the first half of the year and our continuing positive outlook, we have again raised both our revenue and earnings guidance for the full year ending May 31, 2008,” Hawk said.

The Alvin, Tex.-based company is increasing its full-year revenue estimate to $450 million, from a previous $425 million. Fiscal 2008 earnings guidance is being increased by $0.05 per share to a range of $1.10 to $1.20 per share. Analysts, on average, expect earnings of $1.17 per share on revenue of $438.7 million.

After Monday’s closing, Team reported second-quarter net income of $7.8 million, or $0.40 per share, beating analyst estimates of $0.37 per share. This year’s second-quarter profit was up 42% from $5.5 million, or $0.29 per share, a year earlier.

“Obviously, we are very pleased with the financial performance of our business. The driver of this earnings growth continues to be strong, broad-based revenue growth,” Hawk said. “In my view, this growth is the result of a number of factors. There’s no question that overall market demand for our services remains robust, driven by continuing refinery turnaround and expansion projects, significant pipeline projects and generally firm demand in most other segments.”

Team, Inc. (Nasdaq: TISI) CEO Phil Hawk said the provider of specialty maintenance and construction services benefited customer trends, strong demand and organic growth in its Canadian operations. Hawk made the comments during a midday conference call.

“We believe that our growth continues to be positively impacted by the pervasive customer procurement consolidation trends, where our customers are continuing to shift toward fewer, larger, more professional service providers for their industrial service needs,” Hawk said. “Team benefited from much stronger demand. This may reflect some flattening of demand seasonality in our industry, as customers become more cognizant of skilled labor limitations in all of the industry, construction and maintenance trades.”

He said Team’s ability to attract, train and retain field technicians was also a factor in the Alvin, Tex.-based company’s success. The company also expects at least a 10% operating profit margin this year, he said.

Team raised its fiscal 2008 guidance after Wednesday’s close to revenue of $425 million and earnings in the range of $1.05 to $1.15 per share. The company previously forecast revenue of $400 million.

New Gold Inc. (AMEX: NGD), Chelsea Therapeutics International Ltd. (Nasdaq: CHTP) and Chindex International, Inc. (Nasdaq: CHDX) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $500 million.

Here are today's biggest percentage gainers: