SAN FRANCISCO (Thomson Financial) - Tetra Tech Inc. late Wednesday reported
first-quarter net earnings of $12 million, or 22 cents a share, a penny above
the mean estimate of analysts polled by Thomson Financial.
Net income for the year-earlier period was $9.43 million, or 16 cents a
share.
Revenue for the quarter ended Dec. 30 rose to $470.4 million from $369.2
million a year earlier. Revenue net of subcontractor costs rose to $277.2
million versus $244.9 million.
The mean Wall Street revenue estimate was $281.3 million.
First-quarter 2007 results were favorably affected by a $4 million
litigation reserve reversal, which was offset by a $4.2 million charge from the
early retirement of senior notes.
Tetra Tech expects second-quarter earnings per share of between 19 cents and
21 cents. Revenue net of subcontractor costs for the second quarter is expected
to range from $260 million to $280 million.
The company narrowed its earnings guidance for fiscal 2008 to a range of 87
cents to 93 cents. Revenue net of subcontractor costs for the year is expected
to range from $1.11 billion to $1.21 billion.
Brigid Gaffikin
bg/gm
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