29.01.15

Tetra Tech: Q1 Results

Die untenstehende Meldung ist eine Original-Meldung des Unternehmens. Sie ist nicht von der ECOreporter.de-Redaktion bearbeitet. Die presserechtliche Verantwortlichkeit liegt bei dem meldenden Unternehmen.

PASADENA, California - Die untenstehende Meldung ist eine Original-Meldung des Unternehmens. Sie ist nicht von der ECOreporter.de-Redaktion bearbeitet. Die presserechtliche Verantwortlichkeit liegt bei dem meldenden Unternehmen.

PASADENA, California - Tetra Tech, Inc. (TTEK) announced results for the fiscal 2015 first quarter ended December 28, 2014.

First Quarter Results

Revenue in the quarter was $581.1 million and revenue, net of subcontractor costs1, was $437.1 million, each down 10% compared to the prior year. The declines were primarily due to the decision to complete certain fixed-price construction activities and wind-down the Remediation and Construction Management (“RCM”) segment. Operating income was $36.6 million and diluted earnings per share (EPS) were $0.41. Cash generated from operations was $5.5 million.

Tetra Tech’s Chairman and CEO Dan Batrack commented, “Our new Water, Environment and Infrastructure ('WEI') and Resource Management and Energy ('RME') segments started the year with solid first quarter results, which contributed to exceeding EPS guidance for the first quarter. In addition, combined backlog for our on-going operations grew 5% on a constant currency basis. We continue to make progress towards completing the remaining RCM projects, and are focused on long-term growth opportunities that will leverage our technically differentiated services in the water and environmental markets.”

Quarterly Dividend and Share Repurchase Program

On January 26, 2015, Tetra Tech’s Board of Directors declared a quarterly dividend of $0.07 per share payable on February 26, 2015 to stockholders of record as of February 11, 2015. Additionally, in the first quarter, the Company has spent $20 million of the approved $200 million share repurchase program.

Business Outlook

The following statements are based on current expectations. These statements are forward-looking and the actual results could differ materially. These statements do not include the potential impact of transactions that may be completed or developments that become evident after the date of this release. The Business Outlook section should be read in conjunction with the information on forward-looking statements at the end of this release.

Tetra Tech expects diluted EPS for the second quarter of fiscal 2015 to be in the range of $0.28 to $0.32. Revenue, net of subcontractor costs, for the second quarter is expected to range from $400 million to $450 million. For fiscal 2015, Tetra Tech is updating its guidance. Diluted EPS is now expected to range from $1.55 to $1.70. Cash EPS2 is expected to range from $2.30 to $2.55. Revenue, net of subcontractor costs, for fiscal 2015 is expected to range from $1.70 billion to $1.85 billion.


 About Tetra Tech (www.tetratech.com)

Tetra Tech is a leading provider of consulting, engineering, program management, and construction management services. The Company supports commercial and government clients focused on water, environment, infrastructure, resource management, and energy. With 13,000 staff worldwide, Tetra Tech provides clear solutions to complex problems. , Inc. (TTEK) announced results for the fiscal 2015 first quarter ended December 28, 2014.

First Quarter Results

Revenue in the quarter was $581.1 million and revenue, net of subcontractor costs1, was $437.1 million, each down 10% compared to the prior year. The declines were primarily due to the decision to complete certain fixed-price construction activities and wind-down the Remediation and Construction Management (“RCM”) segment. Operating income was $36.6 million and diluted earnings per share (EPS) were $0.41. Cash generated from operations was $5.5 million.

Tetra Tech’s Chairman and CEO Dan Batrack commented, “Our new Water, Environment and Infrastructure ('WEI') and Resource Management and Energy ('RME') segments started the year with solid first quarter results, which contributed to exceeding EPS guidance for the first quarter. In addition, combined backlog for our on-going operations grew 5% on a constant currency basis. We continue to make progress towards completing the remaining RCM projects, and are focused on long-term growth opportunities that will leverage our technically differentiated services in the water and environmental markets.”

Quarterly Dividend and Share Repurchase Program

On January 26, 2015, Tetra Tech’s Board of Directors declared a quarterly dividend of $0.07 per share payable on February 26, 2015 to stockholders of record as of February 11, 2015. Additionally, in the first quarter, the Company has spent $20 million of the approved $200 million share repurchase program.

Business Outlook

The following statements are based on current expectations. These statements are forward-looking and the actual results could differ materially. These statements do not include the potential impact of transactions that may be completed or developments that become evident after the date of this release. The Business Outlook section should be read in conjunction with the information on forward-looking statements at the end of this release.

Tetra Tech expects diluted EPS for the second quarter of fiscal 2015 to be in the range of $0.28 to $0.32. Revenue, net of subcontractor costs, for the second quarter is expected to range from $400 million to $450 million. For fiscal 2015, Tetra Tech is updating its guidance. Diluted EPS is now expected to range from $1.55 to $1.70. Cash EPS2 is expected to range from $2.30 to $2.55. Revenue, net of subcontractor costs, for fiscal 2015 is expected to range from $1.70 billion to $1.85 billion.


 About Tetra Tech (www.tetratech.com)

Tetra Tech is a leading provider of consulting, engineering, program management, and construction management services. The Company supports commercial and government clients focused on water, environment, infrastructure, resource management, and energy. With 13,000 staff worldwide, Tetra Tech provides clear solutions to complex problems.
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