Mistras Group Inc. (MG) reported third quarter adjusted EPS of $0.07 after the bell Monday, down from $0.13 a year ago. The consensus estimate was for EPS of $0.17. Total revenue grew 28 percent to $133.26 million from $104.12 million last year, while three Wall Street analysts had a consensus revenue estimate of $131.62 million for the quarter.
The company expects revenue to be in the high end of its previous guidance of $525 million to $535 million for the full year 2013. Analysts currently expect revenues of $533.24 million for the year.
Mistras Group gapped open lower Tuesday and declined throughout the first 2 hours of trade. The stock finished down by 2.61 at $21.28 on strong volume. Mistras Group sank to a 1-month low and dropped below its 50 and 200-day moving averages.
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