Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASE OF EQUITY SECURITIES
Market for Common Stock
Our common stock currently trades on the New York Stock Exchange (NYSE) under the ticker symbol “MG.”
Holders of Record
As of March 11, 2021, there were 11 holders of record of our Common Stock. The number of record holders was determined from the records of our transfer agent and does not include beneficial owners of common stock whose shares are held in the names of various security brokers, dealers, and registered clearing agencies. The transfer agent of our common stock is American Stock Transfer & Trust Company, 6201 15th Avenue, Brooklyn, New York 11219.
Dividends
No cash dividends have been paid on our Common Stock to date. We currently intend to retain our future earnings, if any, to finance the expansion of our business and do not expect to pay any cash dividends in the foreseeable future.
Purchases of Equity Securities
The following sets forth the shares of our common stock we acquired during the fourth quarter of 2020 pursuant to the surrender of shares by employees to satisfy minimum tax withholding obligations in connection with the vesting of restricted stock units.
Month Ending Total Number of Shares (or
Units) Purchased Average Price Paid per
Share (or Unit) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs
October 31, 2020 221 $ 4.06 — $ —
November 30, 2020 5,281 $ 4.39 — $ —
December 31, 2020 18,475 $ 7.76 — $ —
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`ITEM 6. SELECTED FINANCIAL DATA
The following table presents selected financial data for the years ended December 31, 2020, 2019, 2018, 2017, the transition period ended December 31, 2016 (see footnote 5 below) and the fiscal years ended May 31, 2016. This selected financial data should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Item 7 and the audited consolidated financial statements and the notes thereto in Item 8 in this Annual Report.
For the year ended December 31, For the Transition period ended For the fiscal year
ended May 31,
2020 (1)
2019 (2)
2018 (3)
2017 (4)
December 31, 2016 (5)
2016 (6)
($ in thousands, except per share data)
Statement of Income Data:
Revenues $ 592,571 $ 748,586 $ 742,354 $ 700,970 $ 404,161 $ 719,181
Gross profit 178,531 217,297 207,874 187,712 117,004 203,008
Income (loss) from operations (101,217) 24,137 22,221 4,160 17,533 43,177
Net income (loss) attributable to Mistras Group, Inc. $ (99,461) $ 6,060 $ 6,836 $ (2,175) $ 9,568 $ 24,654
Per Share Information:
Weighted average common shares outstanding:
Basic 29,147 28,740 28,406 28,422 28,989 28,856
Diluted 29,147 29,046 29,427 28,422 30,125 29,891
Earnings (loss) per common share:
Basic $ (3.41) $ 0.21 $ 0.24 $ (0.08) $ 0.33 $ 0.85
Diluted $ (3.41) $ 0.21 $ 0.23 $ (0.08) $ 0.32 $ 0.82
Balance Sheet Data:
Cash and cash equivalents $ 25,760 $ 15,016 $ 25,544 $ 27,541 $ 19,154 $ 21,188
Total assets 583,313 719,878 694,037 554,441 469,427 482,675
Total long-term debt and obligations under finance leases, including current portion 235,096 271,887 303,617 181,491 103,466 104,776
Total Mistras Group, Inc. stockholders’ equity $ 197,021 $ 285,822 $ 270,897 $ 270,619 $ 270,582 $ 276,163
Cash Flow Data:
Net cash provided by operating activities $ 67,802 $ 59,110 $ 41,664 $ 55,799 $ 30,259 $ 68,124
Net cash (used in) investing activities (14,969) (25,280) (155,450) (102,797) (17,374) (16,752)
Net cash (used in) provided by financing activities $ (44,169) $ (44,137) $ 113,969 53,045 $ (12,869) $ (40,378)
1 - Includes pre-tax charges of $108.4 million relating to special items, including impairment charges of $106.1 million. See the Income from Operations table in Item 7 for a description of these items. The impact of these items, net of taxes, on net income and diluted earnings per share was $94.0 million and $3.22, respectively.
2 - Includes pre-tax charges of $5.7 million relating to special items. See the Income from Operations table in Item 7 for a description of these items. The impact of these items, net of taxes, on net income and diluted earnings per share was $4.4 million and $0.15, respectively. The Company modified the prior year tax effect on special items to be consistent with the current year methodology, which was to apply the current jurisdictional tax rate to each specific special item. The impact of this change on the year ended December 31, 2019 was a reduction of after-tax charges related to the special items of approximately $1.5 million and $0.05 per diluted share.
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3 - Includes pre-tax charges of $9.4 million relating to special items. The impact of these items, net of taxes, on net income and diluted earnings per share was $9.3 million and $0.32, respectively, including a $1.7 million tax charge related to the Tax Act.
4 - Includes pre-tax charges of $21.0 million relating to special items. The impact of these items, net of taxes, on net income and diluted earnings per share was $14.9 million and $0.51, respectively, including a $2.0 million tax charge related to the Tax Act.
5 - On January 3, 2017, the Company's Board of Directors approved a change in the Company's fiscal year end from May 31 to December 31, effective December 31, 2016. In connection with this change, we previously filed a Transition Report on Form 10-K to report the results of the seven-month transition period from June 1, 2016 to December 31, 2016. The transition period ended December 31, 2016 is the seven-month period from June 1, 2016 to December 31, 2016. Includes pre-tax charges of $2.2 million relating to special items. The impact of these items, net of taxes, on net income and diluted earnings per share was $1.6 million and $0.05, respectively.
6 - Includes pre-tax charges (benefits) of $6.0 million in fiscal 2016 relating to special items. Net income decreased by these items, net of taxes, by $3.2 million in fiscal 2016. The decrease of these items on diluted earnings per share was ($0.11) in fiscal 2016.
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