Team Inc (TISI) stock was on a bullish run in the regular trading session and gained 22.42% to $2.73 and further soared 7.33% in the pre-market to $2.93. The recent press release from the company came on 4 April 2022 in which TISI declared to have gained compliance with NYSE standards. Team Inc also declared the change in the leadership and the earnings for 4Q and FY2021. The firm also filed form 8-K with the SEC on 5 April 2022.
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Team Inc participates in the arrangement of digitally empowered resource execution affirmation and streamlining arrangements. TISI has a market cap of $117.72 million.
Team Inc declared that it got composed notice from the New York Stock Exchange that it has recaptured consistency with the NYSE norms. With this notification, TISI has restored the recently uncovered least stock price shortage and is currently consistent with NYSE rules which require recorded organizations to keep a normal closing share cost of no less than $1 over a continuous 30 exchanging time span. The CEO of TISI, Keith Tucker, commented that they are satisfied to have recaptured consistency with the NYSE. He further added that they will keep on focusing on their plans, including executing projects securely, conveying top-notch client assistance, and working on their financial execution.
Team Inc also declared the changes in the leadership of the company. The directorate has designated Keith Tucker to the job of Interim Chief Executive Officer of Team Inc. The board likewise designated Michael Caliel as non-chief Chairman of the Board. TISI board also declared the stepping down of Amerino Gatti from his role as Chairman and CEO.
The firm also published the financial results for 4Q and FY2021, which concluded on 31 December 2022. The key points of the results are
- In 4Q of FY2021, TISI posted revenue of $223.6 million compared to $207.3 million in 4Q of FY2020. This marks an increase of 7.8% in revenue YoY. Also, the revenue in FY2021 expanded by 2.5% to $874.5 million compared to $852.5 million in FY2020.
- The firm reported a total loss of $43 million in Q4 of FY2021 against $14.8 million in 4Q of FY2020. Also, the total loss in FY2021 was $186 million versus $237.2 million in FY2020.
- Besides, TISI posted a loss of $1.38 and $6.01 per stock in 4Q and FY2021, respectively.