Exhibit 99.1

Mistras Group, Inc. Delivers Strong Revenue and Earnings Growth as FY 2011 Revenue increases 24%, Adjusted EBITDA up 33%

Fourth Quarter Revenue and Adjusted EBITDA* Increases 28%; Provides Guidance of Continuing Double Digit Growth for FY 2012

PRINCETON JUNCTION, N.J., Aug. 09, 2011 (GLOBE NEWSWIRE) — Mistras Group, Inc. (NYSE:MG), a leading “one source” global provider of technology-enabled asset protection solutions, today reported record financial results for the fourth quarter and fiscal year ended May 31, 2011.  Revenue for the fourth quarter of fiscal 2011 was $102.1 million, an increase of 28%, over the $79.8 million reported in the fourth quarter of fiscal 2010. Adjusted EBITDA*, a non-GAAP measure detailed later in this release, increased 28% to $17.5 million in the fourth quarter of fiscal 2011 versus $13.7 million in the fourth quarter of fiscal 2010. Net income for the fourth quarter of fiscal 2011 grew by 27% to $6.7 million, or $0.25 per diluted share, versus $5.3 million, or $0.20 per diluted share, in the fourth quarter of fiscal 2010.  For the year, net income was $16.4 million, or $0.61 per diluted share, versus $10.4 million, or $0.43 per diluted share, in fiscal 2010. Fiscal 2011 net income includes a fourth quarter pre-tax provision of $0.7 million for slow-moving inventory. Earnings per share would have been $0.26 and $0.63 per diluted share for the 2011 fourth quarter and fiscal year, respectively, without this inventory charge.

Consistent with prior quarters, organic growth was a significant driver behind the overall revenue increase, contributing growth rates of 14% and 16% for the 2011 fourth quarter and fiscal year, respectively.  During the fourth quarter, the Company achieved broad based revenue growth across all of its business segments and surpassed $100 million in quarterly revenue for the first time.

Financial Highlights for the 4th Quarter and FY 2011 Fiscal Year:

·                  Revenue grew 24% in fiscal 2011 to $338.6 million, an increase of $66.5 million, up from $272.1 million in fiscal 2010.

·                  Adjusted EBITDA*, a non-GAAP measure detailed later in this release, grew 33% to $52.3 million in fiscal 2011 versus $39.5 in fiscal 2010.

·                  Adjusted EBITDA* as a percentage of revenue increased 100 basis points in fiscal 2011 to 15.5%, versus 14.5% for fiscal 2010.

·                  Net income grew 58% for fiscal 2011 to $16.4 million, or $0.61 per diluted share, up from $10.4 million or $0.43 per diluted share in fiscal 2010.

·                  The Company generated $25.3 million in net cash from operating activities in fiscal 2011, versus $19.0 million in fiscal 2010, representing an increase of 33%.

·                  Gross profit margin was 31.5% in the fourth quarter and 30.5% for all of Fiscal 2011.  Excluding the inventory provision mentioned above, Gross Profit margin was 32.2% in the fourth quarter and 30.7% for the 2011 fiscal year, representing increases over both corresponding prior year periods.

Chairman and Chief Executive Officer, Dr. Sotirios J. Vahaviolos stated that, “Once again, we are very pleased by the consistent financial results produced by the Mistras model.  In both the fourth quarter and fiscal year, the Company generated record revenues, gross profit, operating income, net income, earnings per share and adjusted EBITDA. Our unique approach which provides “One Source Asset Protection Solutions” to our customers, has once again produced significant amounts of organic and acquisition revenue growth.   The growth fundamentals of our business are strong and we believe this growth is a testament as to how our technology based solutions are being received and implemented by our customers.”

Business Outlook/Guidance for Fiscal Year 2012

The Company’s outlook is for continued double digit growth in revenue and Adjusted EDITDA*. The Company projects its fiscal 2012 revenues to be in the range of $375 million to $390 million and Adjusted EBITDA* to be in the range of $59 million to $64 million. Mistras does not provide specific guidance for individual quarters, but will reaffirm or update its annual guidance at least quarterly.  Dr.Vahaviolos concluded, “The Company is very pleased with the prospects for its business for fiscal 2012 and beyond.  We believe that the Mistras model will continue to deliver the double digit growth in revenue and adjusted EBITDA that we have achieved for several years.”

Earnings Conference Call

In connection with this earnings release, Mistras will hold its quarterly conference call on Wednesday, August 10 at 9:00 a.m. (Eastern). The call will be broadcast over the Web and can be accessed on Mistras’ Website, www.mistrasgroup.com.  Individuals in the U.S. wishing to participate in the conference call by phone may call 866-730-5770 and use confirmation code 90453125 when prompted. The International dial-in number is 857-350-1594.

About Mistras Group, Inc.

Mistras offers one of the broadest “one source” services and technology-enabled asset protection solution portfolios in the industry used to evaluate the structural integrity of energy, industrial and public infrastructure. Mission critical services and solutions are delivered globally and provide customers with the ability to extend the useful life of their assets, improve productivity and profitability, comply with government safety and environmental regulations and enhance risk management operational decisions.

Mistras uniquely combines its industry leading products and technologies - 24/7 on-line monitoring of critical assets; mechanical integrity (“MI”) and non-destructive testing (“NDT”) services; and its proprietary world class data warehousing and analysis software - to provide comprehensive and competitive products, systems and services solutions from a single source provider.

For more information, please visit the company’s website at www.mistrasgroup.com or contact Frank Joyce, Chief Financial Officer at 609-716-4103.

Forward-Looking and Cautionary Statements

Certain statements made in this press release are “forward-looking statements” about Mistras’ financial results and estimates, products and services, business model, strategy, growth opportunities, profitability and competitive position. These forward-looking statements  generally use words such as “future,” “possible,” “potential,” “targeted,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” “predict,” “project,” “will,” “may,” “should,” “could,” “would” and other similar words and phrases.  Such statements are not guarantees of future performance or results, and will not necessarily be accurate indications of the times at, or by which, such performance or results will be achieved, if at all.  These statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in these statements.  A list, description and discussion of these and other risks and uncertainties can be found in the “Risk Factors” section of the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on August 17, 2010 and its Annual Report on Form 10-K for fiscal year 2011, as updated by our reports on Form 10-Q and Form 8-K. The forward-looking statements are made as of the date hereof, and Mistras undertakes no obligation to update such statements as a result of new information, future events or otherwise.

* Use of Non-GAAP Measures

The term “Adjusted EBITDA” is a financial measurement not calculated in accordance with U.S. generally accepted accounting principles. The Company believes that investors and other users of the financial statements benefit from the presentation of Adjusted EBITDA because it provides an additional metric to compare the Company’s operating performance on a consistent basis and measure underlying trends and results of the Company’s business. An explanation of Adjusted EBITDA and a reconciliation of this to a financial measurement under GAAP are set forth in a table attached to this press release.

Mistras Group, Inc.

Unaudited Consolidated Balance Sheets

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Mistras Group, Inc.

Unaudited Consolidated Statement of Operations

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Mistras Group, Inc.

Unaudited Operating Data by Segment

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Mistras Group, Inc.

Unaudited Reconciliation of
Net Income Attributable to Mistras Group, Inc. to EBITDA and Adjusted EBITDA

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