Re: Brain/Brawn Tetra Tech (sym:WATR) 99Q4 Results
Thread,
Well they hit their number of $.22/share for the quarter. So I still have no idea why they have gotten a 50% haircut off their high in January.
This whole industry is perfectly positioned for Last Mile spending. So it's puzzling? Two others I follow closely, IFCI and DY are also in the doldrums. In talking to DY, their employees are so in demand, they are worth their weight in gold. Go figure.
MikeM(From Florida)
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Tetra Tech Reports Fourth-Quarter 1999 Results
PASADENA, Calif Nov. 17, 1999--Tetra Tech Inc. today announced results for the fourth quarter and fiscal year 1999, which ended Oct. 3, 1999.
For the year, gross revenue was up 47.9 percent, to $566.5 million from $382.9 million in the previous year, and net revenue (gross revenue less subcontractor costs) was up 45.2 percent to $432.1 million from $297.6 million. Operating income increased 39.2 percent to $55.4 million from $39.8 million, and net income rose 41.4 percent to $29.1 million from $20.6 million.
Diluted earnings per share for fiscal 1999 increased 32.1 percent to 74 cents, compared with 56 cents last year.
Gross revenue reached $167.3 million for the quarter, up 33.3 percent over gross revenue of $125.5 million for the same quarter last year. Net revenue reached $125.1 million for the quarter, increasing 29.0 percent from $97.0 million for last year's fourth quarter. Net income rose 33.8 percent, to $8.7 million, compared with $6.5 million a year ago. Diluted earnings per share for the fourth quarter rose 22.2 percent, to 22 cents, compared with 18 cents a year ago.
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