Tetra Tech Inc. Reports Earnings Results for the First Quarter Ended December 29, 2013; Provides Earnings Guidance for the Second Quarter of Fiscal 2014; Reaffirms Earnings Guidance for the Fiscal Year 2014
January 29, 2014 at 09:45 pm
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Tetra Tech Inc. reported earnings results for the first quarter ended December 29, 2013. Revenue in the quarter was $645.85 million compared to $658.55 million in the first quarter last year. Operating income was $43.72 million, up 4.6% compared to $41.81 million in the first quarter last year. Diluted earnings per share (EPS) were $0.42, up 2.4% compared to $0.41 in the first quarter last year. Earnings before interest, taxes, depreciation, and amortization were $59.42 million, up 9.9% compared to $54.1 million in the first quarter last year. Cash generated from operations was $41.7 million, up 135.0% compared to $17.8 million in the first quarter last year. Net income attributable to the company was $27.315 million compared to $26.224 million a year ago.
The company expects diluted EPS for the second quarter of fiscal 2014 to be in the range of $0.37 to $0.42. Revenue, net of subcontractor costs, for the second quarter is expected to range from $450 million to $500 million.
Fiscal 2014 guidance remains unchanged. Diluted EPS is expected to range from $1.60 to $1.80 and cash EPS is expected to range from $2.30 to $2.60. Revenue, net of subcontractor costs, for fiscal 2014 is expected to range from $2.1 billion to $2.3 billion.
Tetra Tech, Inc. is a global provider of consulting and engineering services that is focused on water, environment, sustainable infrastructure, renewable energy and international development. The Company is Leading with Science to provide solutions for its public and private clients. The Company operates through its two segments: government services group (GSG) and commercial/international services group (CIG). Its GSG segment provides consulting and engineering services primarily to United States (U.S.) government clients and development agencies worldwide. The Company's CIG segment primarily provides consulting and engineering services to U.S. commercial clients and international clients that include both commercial and government sectors. Its CIG segment provides sustainable infrastructure and related environmental, engineering and project management services to commercial and local government clients across Canada, in Asia Pacific, the United Kingdom, as well as Brazil and Chile.
Tetra Tech Inc. Reports Earnings Results for the First Quarter Ended December 29, 2013; Provides Earnings Guidance for the Second Quarter of Fiscal 2014; Reaffirms Earnings Guidance for the Fiscal Year 2014