Re: Tetra Tech (sym:WATR) Q3 Results
Thread,
I linked this response to my previous comments on WATR. Looks like they did pretty good this quarter. For a company selling at a PE of 26, yet grew Q3-Q3 revenues 60%, and Q3-Q3 income 55%, it's pretty cheap. Don't know the details yet, but I bet a large chunk of the growth may (but it's only a guess at this point) have come from telecommunications infrastructure projects.
MikeM(From Florida)
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TETRA TECH REPORTS THIRD QUARTER 1999
PASADENA, Calif.--July 21, 1999--Tetra Tech Inc.(NASDAQ:WATR) Wednesday announced third quarter results for fiscal year 1999.
Gross revenue for the quarter ended July 4, 1999, was $157.1 million, up 59.9 percent over gross revenue of $98.2 million for the same quarter last year. Net revenue for the quarter was $120.7 million, increasing 60.7 percent from $75.1 million for the same quarter last year.
Operating income for the third quarter of 1999 was $15.6 million, or 36.7 percent more than the $11.4 million for the same period last year. This includes the reversal of approximately $1.75 million of reserves previously provided for potential disallowances of certain government receivables collected during the quarter.
Net income rose 54.8 percent, to $8.5 million, compared with $5.5 million a year ago. Giving effect to the 5-for-4 stock splits which the company distributed on June 15, 1999, and on Sept. 15, 1998, diluted earnings per share increased to 21 cents from 15 cents for the previous year. |
