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| Tetra Tech reports strong 3Q results US engineering giant Tetra Tech, Inc. announced results for the third quarter ended July 3, 2011. Revenue in the quarter was $673.8 million, up 19.8% compared to $562.4 million in the year-ago period. Revenue, net of subcontractor costs, was $480.5 million, up 29.8% compared to $370.1 million in the year-ago period. Earnings before interest, taxes, depreciation, and amortization (EBITDA) were $52.5 million, up 28.9% compared to $40.8 million in the year-ago period. Operating income was $39.4 million, up 20.5% compared to $32.7 million in the year-ago period. Net income was $23.8 million, up 15.5% compared to $20.6 million in the year-ago period. Diluted earnings per share (EPS) were $0.38, up 15.2% compared to $0.33 in the year-ago period. Backlog was $1.88 billion, up 11.8% compared to $1.68 billion at the end of the year-ago period. Cash generated from operations was $55.8 million, up 127.7% compared to $24.5 million in the year-ago period. Revenue for the nine-month period was $1.90 billion, up 20.6% compared to $1.57 billion in the year-ago period. Revenue, net of subcontractor costs, was $1.32 billion, up 26.6% compared to $1.04 billion in the year-ago period. EBITDA were $142.2 million, up 27.9% compared to $111.2 million in the year-ago period. Operating income was $103.0 million, up 17.9% compared to $87.3 million in the year-ago period. Net income was $63.6 million, up 18.6% compared to $53.7 million in the year-ago period. Diluted EPS were $1.01, up 17.4% compared to $0.86 in the year-ago period. Cash generated from operations was $98.4 million, up 52.4% compared to $64.6 million in year-ago period. Tetra Tech expects diluted EPS for the fourth quarter of fiscal 2011 to be in the range of $0.38 to $0.41. Revenue, net of subcontractor costs, for the fourth quarter is expected to range from $460 million to $480 million. For fiscal 2011, Tetra Tech is increasing its diluted EPS guidance to a range of $1.39 to $1.42. Revenue, net of subcontractor costs, for fiscal 2011 is now expected to range from $1.78 billion to $1.80 billion. write your comments about the article :: © 2011 Construction News :: home page |