MISTRAS Announces First Quarter 2023 Results
PRINCETON JUNCTION, N.J., May 03, 2023 (GLOBE NEWSWIRE) -- MISTRAS Group, Inc. (MG: NYSE), a leading "one source" multinational provider of integrated technology-enabled asset protection solutions, reported financial results for its first quarter of 2023.
- Revenue increase of 3.9% as reported; up 5.5% in constant currency
PRINCETON JUNCTION, N.J., May 03, 2023 (GLOBE NEWSWIRE) -- MISTRAS Group, Inc. (MG: NYSE), a leading "one source" multinational provider of integrated technology-enabled asset protection solutions, reported financial results for its first quarter of 2023. - Selling, general and administrative expenses in the first quarter of 2023 were $42.8 million, up from $41.9 million in the first quarter of 2022, yet down as a percentage of revenue.
- Our Onstream inline inspection testing (ILI) business has continued its record 2022 performance into the first quarter of 2023.
- Gross profit margin was 26.8% for the first quarter of 2023, a 380 basis point improvement from 23.0% in the first quarter of the prior year.