Tetra Tech Inc. (TTEK) posted first quarter net income of $18.7 million or $0.30 per share, compared to $16.3 million or $0.27 per share in the same quarter last year.
On average, 17 analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share. Analysts' estimates typically exclude special items.
Revenue in the quarter was $542.0 million, down 15.1% from $638.7 million in the preceding year period. Seventeen Wall Street analysts expected revenues of $339.71 million.
Looking forward, for the second quarter, Tetra Tech expects earnings per share in the range of $0.20 to $0.23. Revenue, net of subcontractor costs, for the quarter is expected to range from $310 million to $330 million.
Street analysts expect earnings of $0.30 per share on revenues of $354.69 million.
Further ahead, for the fiscal year 2010, Tetra Tech now expects earnings per share in the range of $1.08 to $1.18. Revenue, net of subcontractor costs, for fiscal 2010 is now expected to range from $1.4 billion to $1.5 billion. Previously, the company estimated earnings in the range of $1.25 - $1.35 per share on revenue, net of subcontractor costs, in the range of $1.45 billion - $1.55 billion.
Street analysts expect earnings of $1.32 per share on revenue of $1.50 billion.
For comments and feedback: editorial@rttnews.com