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| Tetra Tech reports 1Q results  Headquartered in Pasadena, California, Tetra Tech, Inc., a provider of consulting, engineering and technical services in the areas of water resource management and civil infrastructure, announced results for the first quarter ended December 31, 2006. Revenue in the quarter was $369.2 million, up 8.2% from $341.2 million, and revenue, net of subcontractor costs, was $244.9 million, up 6.6% from $229.8 million for the same quarter last year. Income from operations for the quarter was $21.4 million, up 24.8% from $17.1 million for the same quarter last year. Net income for the first quarter was $9.4 million, up 17.5% from $8.0 million for the same quarter last year. Diluted earnings per share ("EPS") from continuing operations was $0.16, which achieved the high end of guidance.In the first quarter of fiscal 2007 compared to the same quarter last year, the resource management segment experienced strong growth in revenue and backlog. This performance was driven by new business with the Department of Defense and state and local governments. The infrastructure segment experienced broad-based growth in revenue and backlog. Tetra Tech expects diluted EPS for the second quarter of fiscal 2007 to be in the range of $0.16 to $0.18. Revenue, net of subcontractor costs, for the second quarter is expected to range from $240 million to $250 million. For fiscal 2007, Tetra Tech has narrowed its range, and now expects diluted EPS to be $0.71 to $0.76. Revenue, net of subcontractor costs, for fiscal 2007 is expected to range from $975 million to $1.025 billion. write your comments about the article :: © 2007 Construction News :: home page |