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Non-Tech : Tetra Tech (TTEK)

TTEK 31.98

-0.6%

Oct 31 3:59 PM EST

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To: Skywatcher who wrote (22)	12/17/2004 6:29:22 PM
From: Skywatcher	of 24

TTEK..>CROOKS AND SCREWED THE SHAREHOLDERS ONCE AGAIN!..... what's this like the FIFTH TIME IN A ROW!?!!? Tetra Tech to Restate 3 Years of Results Friday December 17, 6:04 pm ET Tetra Tech to Restate Three Years of Results Stemming From Legal Dispute PASADENA, Calif. (AP) -- Tetra Tech Inc. on Friday said it substantially completed the evaluation of accounting adjustments that will lead to the restatement of fiscal years 2001 to 2003. The company -- which consults on engineering and technical services -- said it expects the restatement to hurt income by $3 million to $5 million over the three-year period from 2001 to 2003. However, the restatements are not expected to impact 2004 operating earnings. The company recorded a $4.1 million reserve related to a legal judgment that was made against it in 2002 regarding a contract dispute with Zinc Corporation of America. In a separate matter, the company had a net receivable of $1 million from a Washington-based company relating to a design and construction contract. Disputes arose during fiscal 2001 and fiscal 2002, and the company said it is still attempting to collect amounts from the contractor and third parties. Shares of Tetra Tek closed up 2 cents to $15.66 on the Nasdaq.

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