Businessweek

Tetra Tech Inc. announced earnings results for the second quarter and six months ended March 31, 2013. For the quarter, the company reported revenue of $641,999,000 compared to $624,345,000 a year ago. Net income attributable to company was $24,820,000 or $0.38 basic and diluted per share compared to $22,284,000 or $0.35 basic and diluted per share a year ago. EBITDA was $54,188,000 compared to $49,217,000 a year ago. Cash generated from operations was $44.3 million, up 33.8% compared to $33.1 million in the second quarter last year. Operating income was $37,667,000, up 6.0% compared to $35,543,000 in the second quarter last year. For the six months, the company reported revenue of $1,300,544,000 compared to $1,306,972,000 a year ago. Net income attributable to company was $51,043,000 or $0.78 diluted per share compared to $44,894,000 or $0.71 basic and diluted per share a year ago. EBITDA was $108,265,000 compared to $100,267,000 a year ago. Cash generated from operations was $62.0 million compared to $71.4 million in year-ago period. Operating income was $79,476,000, up 10.9% compared to $71,635,000 in the year-ago period. For the third quarter of fiscal 2013, the company expects diluted EPS to be in the range of $0.32 to $0.42. Revenue, net of subcontractor costs, expected to range from $525 million to $575 million. For the fiscal year 2013, the company expects diluted EPS to be $1.60 to $1.75. Revenue, net of subcontractor costs, expected to range from $2.15 billion to $2.25 billion. The company expects its capex to be in the range of about $25 million to $30 million for fiscal 2013. The company expects its operating cash flow for the year will still be about $150 million to $170 million for fiscal 2013, and this translates to cash generated, on a per-share basis, of about $2.31 to $2.62, which is quite a bit more than its EPS guidance. The company expects effective tax rate of 34% for the second half of the year.

Tetra Tech Inc. announced that it has been awarded a $17.8 million contract with McClellan Business Park, LLC to perform environmental services for the privatized cleanup of portions of the former McClellan Air Force Base in California. The U.S. Air Force transferred portions of the former Air Force Base to McClellan Business Park prior to completion of remedial actions through a Findings of Suitability of Early Transfer.

Tetra Tech Inc., Q2 2013 Earnings Call, May 02, 2013

Tetra Tech Inc. reaffirmed its previous guidance for the second quarter 2013, which ended in March. The company announced that it anticipates weaker than expected operating performance during the second half of fiscal 2013 due primarily to its business in Eastern Canada. The company's Eastern Canadian operations have been adversely impacted by poor economic conditions, including budget deficits and reduced customer spending. In addition, there has been an on-going government investigation into political corruption in Quebec. Together these factors have slowed government procurements and business activity in Eastern Canada. As a result, Tetra Tech now anticipates weaker financial performance in its Eastern Canadian operations. The overall impact in Eastern Canada and in mining is anticipated to be a reduction of revenue, and a reduction of approximately $20 to $30 million to operating income, over the second half of fiscal 2013.

Tetra Tech Inc. announced that they will report Q2, 2013 results at 5:00 PM, Eastern Standard Time on May 01, 2013