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Strategies & Market Trends : Value Investing

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To: Sergio H who wrote (45926)	4/28/2012 11:36:48 PM
From: Sergio H	1 Recommendation Read Replies (1) of 78666

TTEK update. Hit 52 wk high last week. It's still trading at very reasonable multiples. Looking at it historically, TTEK has managed to eke out growth in earnings averaging in the mid teens or better for at least the last five years. They have successfully offset the decrease in U.S. govt. spending by increasing their revenues and earnings from international sources as well as U.S. commercial sources. The stock is up significantly this year and so is the U.S. stock market. I think going forward TTEK is well positioned regardless of what happens with the U.S. stock market in general. Their website offers a wealth of information. Start with presentations found under Investor Relations at tetratech.com TTEK offers advisory services and does not have the costs associated with delivering infrastucture services. They offer knowledge and therefore the margins are pure profit. The need for their knowledge base is just becoming a necessity. TTEK deals with solving water problems. People need water and they assure that when you turn on your tap, water will come out. TTEK provides water solutions to California, Colorado, Brazil and Afghanistan. Additionally, they are also involved in water solutions for the mining industry. There is a good presentation on their website on this. Mining has increased its impact on the environment and therefore has increased the need for environment protection services that TTEK offers. Earnings report is coming up in the first week in May. I like this stock going forward. Institutional investment has been solid, insider interest has been lacking. Lots of analysts follow this stock but probably due to the heavy competition, TTEK has not received much press. TTEK has almost no debt, so it is in a good position to expand growth by acquisition as it sees fit, but however management chooses to go forward, they have established a good platform to build on.

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