Mistras Group, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended November 30, 2014. For the quarter, the company has posted revenue of $206,893,000 against $156,755,000 a year ago. Income from operations was $18,192,000 against $15,252,000 a year ago. Net income attributable to company was $10,427,000 or $0.35 diluted per share against $9,257,000 or $0.32 diluted per share a year ago. EBITDA was $26,593,000 against $22,010,000 a year ago. Adjusted EBITDA was $28,249,000 against $22,639,000 a year ago. The company generated $3.2 million of operating cash flow during the first half of fiscal year 2015 as compared with $15.6 million in the prior year's first half. The company used $7.3 million of cash for capital expenditures, net of equipment sales, in the first half of fiscal year 2015, and also made noncash outlays to lease $3.5 million of capital equipment. The company's aggregate capital investment during the first half was $10.8 million or 2.9% of revenue.

For the six months, the company has posted revenue of $373,466,000 against $292,593,000 a year ago. Income from operations was $21,856,000 against $24,827,000 a year ago. Net income attributable to company was $12,093,000 or $0.41 diluted per share against $14,898,000 or $0.51 diluted per share a year ago. EBITDA was $38,531,000 against $38,356,000 a year ago. Adjusted EBITDA was $41,393,000 against $38,595,000 a year ago. Net cash provided by operating activities was $3,230,000 against $15,634,000 a year ago.

Based on the strong second quarter and additional upside from NACHER, the company is increasing its revenue expectation for fiscal year 2015 to a range of $720 million to $740 million, representing growth of 16% to 19% over prior year. The company expects its Adjusted EBITDA to be within the high end of its previously announced range of from $78 million to $84 million, representing an increase of from 11% to 20% over prior year.